NEXT year already spells bad news for Brits as hundreds of bank branches are expected to close.
In fact, 45 branches are planned for closure in January alone, according to data from Link, which tracks branch closures.
Banks and building societies have shut up shop on 6,214 since January 2015, with around 53 typically closing each month, according to research carried out by consumer champion Which?.
And next year looks to be no different, with plenty of closures already scheduled in.
For instance, Lloyds Banking Group plans to close 55 branches between January and September 2025, affecting 19 Lloyds branches, 4 Bank of Scotland branches, and 32 Halifax branches.
Which?’s research says that the NatWest group is the biggest offender for shutting down its branches, with 1,428 closing since 2015.
Barclays is the individual bank that has shut the most, with 1,228 closed to date.
It found that the South-East has been the hardest hit region so far, followed by London, Scotland, and the North West.
Even more concerning, Which? Found that there are 30 constituencies in the UK that now don’t have access to a single bank branch, including Liverpool Wavertree, North East Derbyshire, and Reading West and Mid-Berkshire.
Thanks to pressure from campaigners, including Link, some banks have agreed to create voluntary banking hubs, giving customers access to some face-to-face banking services.
These hubs allow you to pay in cash, withdraw cash, check your balance, pay utility bills and top up gas and electricity.
It doesn’t matter who you bank with – you should be able to use the services whatever.
Banks inform Link if a branch is closing so that it can assess whether a hub is needed.
It says it typically recommends banking hubs in local areas with at least 10,000 people and 70 shops.
It also looks at the average age and digital skills in the area, and even looks at bus routes to see which areas need services the most.
You can even lobby for a hub yourself – we recently revealed 57 towns where locals campaigned for a banking hub and won.
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.
A full list of running hubs is available on the Cash Access UK website.
If you don’t have access to a bank, you should still be able to carry out some banking at your nearest Post Office.
Services typically include cash withdrawals, balance enquiries, cash deposits, cheque deposits, bill payments, and topping up gas and electricity.
Here are all the closures planned for January.
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