High street banks like NatWest and Lloyds are planning to close 162 branches in the coming months. NatWest will shut down 52 physical banks, Halifax will close 42 sites, Lloyds will close 40, Santander has 19 branches set for closure, and Bank of Scotland has nine in the pipeline.
The increase in online banking usage has led to the closure of many high street bank branches. However, concerns have been raised by charities that vulnerable individuals may lose access to essential banking services.
According to data from Which?, banks and building societies have closed a total of 6,522 branches since January 2015, averaging 53 closures every month.
For those affected by branch closures, basic cash or counter services can be accessed at the nearest Post Office, including cash deposits, check deposits, withdrawals, and balance inquiries. Some banks also offer pop-up branches or vans, with schedules available online for upcoming visits to various towns.