High street banks like NatWest, Lloyds, and others are planning to close a total of 162 branches in the coming months. NatWest will shut down 52 branches, Halifax 42, Lloyds 40, Santander 19, and Bank of Scotland 9. This move is primarily driven by the increasing trend of online banking, leading to concerns from charities about potential exclusion of vulnerable individuals from essential banking services.
According to data from Which?, banks and building societies have closed 6,522 branches since January 2015, averaging 53 closures per month. In case your local branch is closing, basic cash or counter services can still be conducted at nearby Post Offices for tasks like cash deposits, cheque payments, withdrawals, and balance inquiries.
Some banks have introduced pop-up branches or vans as alternative mobile banking solutions. To find out when these services will be available in your area, it is advisable to check online for scheduled visits.