Three leading high street banks will be shutting down a total of 71 branches next year due to the increasing trend of online banking. Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, have cited the shift towards digital banking as the reason for the closures, which were initially announced earlier this year.
The closures will affect 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers facing branch closures have alternative options available to them. Lloyds, Halifax, and Bank of Scotland customers can conduct their everyday banking at branches of any of the three banks. Additionally, they can locate “banking hubs” in shared public spaces on the high street.
A spokesperson from Lloyds Banking Group commented on the changes, stating, “The way people manage their finances has evolved, with more than 21 million customers opting for apps to handle their money. We are offering greater flexibility by combining digital convenience with personalized services. In addition to our app, customers can utilize any Lloyds, Halifax, or Bank of Scotland branch, the Post Office, or banking hubs for their day-to-day banking needs, and deposit cash at over 30,000 PayPoint locations.”
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