Three leading high street banks have announced plans to shut down 71 branches next year due to the increasing trend of online banking. Lloyds Bank, Halifax, and Bank of Scotland, all under Lloyds Banking Group, cited the shift towards digital banking as the reason for these closures, which were initially disclosed earlier this year.
The branch closures will affect 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers impacted by these closures have alternative options available to them.
Affected 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 using a “banking hub” nearby, where a bank operates within a shared public space on the high street.
A representative from Lloyds Banking Group explained, “The banking habits of individuals have evolved, with more than 21 million customers now opting for apps to manage their finances. We are offering a wider range of choices, blending digital convenience with personal service.”
In addition to the mobile app, customers have the flexibility to utilize any Lloyds, Halifax, or Bank of Scotland branch, the Post Office, or banking hubs for their regular banking needs, including cash deposits at over 30,000 PayPoint locations.