Three major high street banks, Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, have announced plans to close a total of 71 branches next year. This decision is attributed to the increasing trend of online banking among consumers. The closures were initially revealed earlier this year.
The breakdown of the closures includes 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers affected by these closures have alternative options available to them.
Impacted customers of Lloyds, Halifax, and Bank of Scotland can conduct their everyday banking at branches of any of these three banks. Additionally, they can explore the possibility of utilizing “banking hubs” located in shared public spaces on the high street.
A spokesperson for Lloyds Banking Group emphasized the shift in banking preferences, noting that more than 21 million customers now opt for managing their finances through apps. The group aims to offer a diverse range of banking options, combining digital convenience with personalized services. In addition to the mobile app, customers can access banking services at any Lloyds, Halifax, or Bank of Scotland branch, as well as at the Post Office or designated banking hubs. Cash deposits can also be made at over 30,000 PayPoint locations.
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