A TOTAL of 10 more bank branches are set to shut before the end of the year, leading to growing fears about customers’ access to cash.
It comes as fresh data reveals more than 7,000 ATMs have disappeared and 115 post office sites are set to close.
According to Link, the ATM provider, five million people in the UK still rely on cash every day.
It found that the total number of all cash machines fell from 53,791 in 2021 to 46,097 in 2024.
This includes both free ATMs and those that charge a withdrawal fee.
By 2032, Link predicts the number of free cash machines could fall to 20,000, as more people shift to paying digitally.
It comes as the Post Office revealed it is looking to offload 115 branches within its 11,500 network.
A lot of consumers, particularly older people, also rely on Post Office branches to withdraw and deposit cash and make balance queries.
With high street banks shutting thousands of branches, many have been relying on their local Post Office to access cash.
Martin Quinn from Campaign for Cash previously said: “This is another nail in the coffin for communities who rely on the Post Office network for access to cash services.
“The Government must immediately demand that this closure programme be stopped, and treat the Post Office network as national infrastructure.”
Banks and building societies have closed 6,161 branches since January 2015 at a rate of around 53 each month, according to Which?.
The NatWest Group, which encompasses NatWest, Royal Bank of Scotland, and Ulster Bank, has closed 1,409 branches, making it the banking group with the highest number of closures.
Lloyds Banking Group, comprising Lloyds Bank, Halifax, and Bank of Scotland, has shut down 1,216 sites.
Barclays is the individual bank that has reduced its network the most, with 1,227 branch closures.
Ten bank branches are set to shut before the end of the year alone, with dozens earmarked for closure early next year too.
This is made up of seven Lloyds sites, one Halifax, one Bank of Scotland (BoS) and one Barclays branch.
Nine of the branches are located in England and one is in Scotland.
The full list of branches shutting before December 31 is as follows:
New rules from the Financial Conduct Authority (FCA) mean banks and building societies that shut branches have to make sure customers can still get cash.
When they make changes, they need to check if local communities will be left without important cash services, like branches or ATMs, and fix any big gaps.
Residents and community groups can also ask for a review of cash-access gaps, and the providers have to respond.
If big gaps are found, banks and building societies need to offer reasonable alternatives, like keeping branches or ATMs open until new ones are set up.
Solutions can include setting up banking hubs, new ATMs, or using Post Office facilities to keep cash services going.
The vast majority of banking customers are moving online and don’t need a physical branch as much as before.
But any closures can be an issue for others, particularly elderly people in rural areas who don’t have access to the internet.
However, if your local branch is set to close, or has recently, you have some options.
You can carry out most basic banking tasks at your nearest Post Office.
You won’t be able to apply for a loan or open a new bank account at once though.
You can find your nearest Post Office branch by using the locator tool on its website.
Plus, hundreds more banking hubs are set to open to replace lost banking services following years of widespread branch closures.
Banking hubs offer a solution by allowing staff from multiple banks to share the same space, filling the gaps that branch closures left.
Banking hubs typically feature a counter service operated by the Post Office as standard, enabling customers to conduct routine banking transactions conveniently.
BANKING hubs offer a range of services to bridge the gap left by the closure of local branches.
Operated by the Post Office, these hubs allow customers to perform routine transactions such as deposits, withdrawals, and balance enquiries.
Each hub features private booths where customers can discuss more complex banking matters with staff from their respective banks.
Staff from different banks are available on a rotational basis, ensuring that customers have access to a wide range of banking services throughout the week.
Additionally, customers can receive advice and support on various financial products and services, including loans, mortgages, and savings accounts.
Many banks offer a mobile banking service – where they bring a bus to your area offering services you can usually get at a physical branch.
Other banks use buildings such as village halls or libraries to offer mobile banking services.
It’s worth contacting your bank to see what services they have available, and when they might next be in your area.
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