Three major high street banks, Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, have announced the closure of 71 branches next year. The decision comes as a response to the increasing trend of online banking among customers. The list of affected branches includes 40 Lloyds, 14 Halifax, and 17 Bank of Scotland locations. Customers facing closures have alternative options available.
Affected customers of Lloyds, Halifax, and Bank of Scotland can utilize branches across any of the three banks for their everyday banking needs. 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 emphasized the changing banking landscape, citing that more than 21 million customers opt for apps to manage their finances. The group aims to provide enhanced digital convenience while still offering access to physical branches, Post Offices, and banking hubs for everyday banking activities, along with the option to deposit cash at over 30,000 PayPoint locations.