OVER 1,000 bank branch closures have been announced in the last 18 months and 44 more are set to shut for good in August 2024.
Halifax, Bank of Scotland, Lloyds, NatWest and Barclays have all announced they will close branches across the UK, leaving Brits struggling to access in-person services on the high street.
AlamyBank branches continue to close with 44 shutting their doors in August[/caption]
Branches will see their doors shut for good in towns and cities including Exeter, Rhyl, Sudbury, Gravesend and Halifax.
Banks and building societies have shut around 6,000 branches since 2015 — at a rate of 54 each month — to almost half the number of branches that existed a decade ago.
Since 2022 almost 1,500 branch closures have been announced, according to data from ATM provider LINK, with 174 further closures slated for the remainder of 2024.
Barclays has shrunk its network the most, with more than 1,100 branches closed, followed by NatWest, Lloyds and Santander, according to Which? data.
Closures can cause headaches for locals who have to travel further to access services or switch to alternative providers.
Of the 44 branches to close in August, 10 will leave customers with no other branches nearby.
NatWest will close the most branches in August, with 22 set to shut for good, while Halifax will close eight, Lloyds five, Barclays five and Bank of Scotland four.
This is the full list of 44 bank branches closing and the 10 with no other banks nearby:
Bank of Scotland, Buckie, Scotland, 01/08/2024
NatWest, Chadwell Heath, England, 01/08/2024 – No other branches nearby
Halifax, Abergavenny, England, 05/08/2024
Lloyds, Exeter, England, 05/08/2024 – No other branches nearby
Lloyds, Commercial Road, London, 06/08/2024
NatWest, Muswell Hill, London, 06/08/2024
NatWest, Streatham, London, 06/08/2024
Halifax, Exmouth, England, 07/08/2024
Lloyds, Clitheroe, England, 07/08/2024
NatWest, Hackney, England, 07/08/2024
NatWest, Paddington, England, 07/08/2024
Halifax, Haverfordwest, Wales, 08/08/2024
NatWest, Islington, England, 08/08/2024
NatWest, Ramsgate, England, 08/08/2024
Barclays, Rhyl, Wales, 09/08/2024
Barclays, Keighley, England, 09/08/2024
Barclays, Acton, England, 09/08/2024
Barclays, Northampton, England, 09/08/2024
Halifax, Sudbury, England, 12/08/2024
Bank of Scotland, Lesmahagow, Scotland, 12/08/2024 – No other branches nearby
Bank of Scotland, Lanark, Scotland, 13/08/2024
NatWest, Shepherd’s Bush, England, 13/08/2024
Lloyds, Ilminster, England, 14/08/2024 – No other branches nearby
NatWest, Gravesend, England, 14/08/2024
Halifax, Hessle, England, 15/08/2024 – No other branches nearby
Bank of Scotland, Kilcreggan, Scotland, 15/08/2024 – No other branches nearby
NatWest, Marylebone, England, 15/08/2024
Barclays, Halifax, England, 16/08/2024
Halifax, Loughton, England, 19/08/2024
Lloyds, Malpas, England, 20/08/2024 – No other branches nearby
NatWest, East Grinstead, England, 20/08/2024
NatWest, Eltham, England, 20/08/2024
Halifax, Midsomer Norton, England, 21/08/2024
NatWest, Lewisham, England, 21/08/2024
NatWest, Woking, England, 21/08/2024
Halifax, Redhill, England, 22/08/2024
NatWest, West Wickham, England, 22/08/2024
NatWest, Worcester Park, England, 22/08/2024
NatWest, City of London, England, 27/08/2024
NatWest, Andover, England, 28/08/2024
NatWest, Stalybridge, England, 29/08/2024 – No other branches nearby
NatWest, West Kirby, England, 29/08/2024 – No other branches nearby
NatWest, Marylebone, England, 29/08/2024
NatWest, Hendon, England, 29/08/2024 – No other branches nearby
Closures have followed a shift in the way people access banking services with most customers using online banking to manage their finances.
Branch closures are also seen as a way for banks and building societies to cut costs.
However, there are fears the continued closures will hurt certain parts of our society more than others.
Research found around 39% of people over 65 did not use online banking and were at “high risk of financial exclusion“.
While a survey conducted by Which? last year, found more than half of disabled or impaired people had negatively been impacted by bank closures.
In May TSB announced it would close 36 branches in the next two years.
Some banks or building societies such as HSBC and Nationwide have made pledges to limit branch closures or not shut any at all.
Nationwide has announced its commitment to keep its existing branches open until 2028.
What to do if your local bank closes
If a recent bank or building society closure has left you without one nearby, you have some alternatives.
You can carry out most basic banking tasks at your nearest Post Office, although you won’t be able to apply for a loan or open a new bank account there.
You can find your nearest Post Office branch by using the locator tool on its website.
Meanwhile, 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.
Last month it was announced that new super ATMs would launch in 17 UK locations where branch closures have left residents unable to access essential banking services.
The ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash.
Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank are already signed up to allow deposits, at the super ATMs, with more banks set to sign up soon.
How many new banking hubs are planned?
THE first four banking hubs were successfully piloted in 2022 in Brixham, Cambuslang, Cottingham and Rochford.
More have since opened in Acton, Buckingham, Carnoustie and Troon and the following locations:
Axminster, Devon
Barnoldswick, Lancashire
Barton, North Lincolnshire
Belper, Derbyshire
Brechin, Angus
Bury Park, Bedfordshire
Cambusland, South Lanarkshire
Carnoustie, Angus
Cheadle, Staffordshire
Clay Cross, Derbyshire
Downham Market, Norfolk
Haslemere, Surrey
Hornsea, East Yorkshire
Horwich, Bolton
Kilkeel, County Down
Kilwinning, North Ayrshire
Kirkcudbright, Dumfries and Galloway
Knaresborough, Harrogate
Looe, Cornwall
Lutterworth, Leicestershire
Maryport, Cumbria
Newton Aycliffe, County Durham
Prestatyn, Denbighshire
Rochford, Essex
Royal Wootton Bassett, Wiltshire
Shoreham-by-Sea, West Sussex
Stapleford, Nottinghamshire
Syston, Leicestershire
Troon, South Ayrshire
Welling, London
Welshpool, Powys
Following further branch closures LINK, the UK’s Cash Access and ATM network, has identified a further 83 locations which require banking hubs.
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