Three major high street banks, including Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, are planning to shut down 71 branches next year due to the increasing trend of online banking. The closures were initially announced earlier this year.
Among the affected branches, there are 40 Lloyds locations, 14 Halifax branches, and 17 Bank of Scotland sites. Customers facing branch closures have alternative options 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, they can explore the possibility of using “banking hubs,” which are bank setups in shared public spaces on the high street.
A spokesperson for Lloyds Banking Group highlighted the shift in customer banking behavior, with over 21 million customers opting for apps to manage their finances. The group aims to offer a blend of digital convenience and in-person services, enabling customers to utilize various channels for their banking needs, including branches, the Post Office, and over 30,000 PayPoint locations for cash deposits.