Lloyds Bank customers are no longer able to deposit cheques at the Post Office as part of a recent change. This adjustment also affects Halifax and Bank of Scotland, both under the Lloyds Banking Group umbrella. Despite this alteration, customers can still conduct cash withdrawals and deposits at Post Office branches.
Reportedly, the banking group, serving approximately 28 million customers, eliminated the cheque deposit option last month along with announcing further bank branch closures. Lloyds Banking Group disclosed plans to shutter an additional 95 bank branches from May this year to March 2027, comprising 53 Lloyds, 31 Halifax, and 11 Bank of Scotland locations.
Over the past decade, Lloyds Banking Group has closed 1,470 sites, according to consumer organization Which?. To ensure continued access to cash nationwide, the cash access network Link announced the establishment of 14 new banking hubs.
Banking hubs are collaborative spaces shared by different bank staff on varying days, offering services like cash withdrawals, deposits, and bill payments. A spokesperson from Lloyds mentioned that most customers now prefer using the bank’s app to deposit cheques easily by taking a photo on their phones, as the bank has introduced a new freepost cheque service for those in need.
While the exact impact on staff due to closures was not specified, Lloyds assured that affected employees would be offered roles at other sites or within different areas of the business. The ongoing closures, set to close 49 sites by October, follow a previous announcement of 136 closures around a year ago. Once all planned closures are finalized, Lloyds will retain 610 branches.
Stressing the importance of customer choice, a Lloyds spokesperson emphasized the array of banking options offered, from mobile apps and 24/7 messaging services to local banking solutions like community bankers, PayPoint, and access to Lloyds, Halifax, and Bank of Scotland branches.