Three prominent high street banks are planning to shut down 71 branches next year due to the increasing trend of online banking. Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, have cited the shift towards digital banking as the reason for the closures, which were initially announced earlier this year.
The closure list comprises 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers affected by the closures have alternatives available to them.
Customers of Lloyds, Halifax, and Bank of Scotland can conduct their everyday banking at branches of any of these three banks. Additionally, individuals can explore the option of using a “banking hub” nearby, where a bank operates within a shared public space on the high street.
A spokesperson from Lloyds Banking Group stated, “The way people manage their finances has evolved, with over 21 million customers opting for apps to handle their money. We are now offering a wider range of options, combining digital convenience with human interaction.”
In addition to the mobile app, customers can utilize any Lloyds, Halifax, or Bank of Scotland branch, the Post Office, or banking hubs for their routine banking needs, including cash deposits at over 30,000 PayPoint locations.