Lloyds bank is set to close five branches this week as part of a series of closures impacting the UK’s high streets. The major bank is shutting down a total of 71 branches across the country. This move is part of a broader trend of banks retreating from high street locations, with consumer watchdog Which? reporting that 218 bank branches across Lloyds, Halifax, and Bank of Scotland are scheduled to close by 2025, largely due to the increasing number of customers opting for online banking.
The banking institutions attribute the closures to evolving customer behavior, as more individuals are choosing to manage their finances online rather than visiting physical branches. A spokesperson for Lloyds Banking Group highlighted that over 21 million customers now use mobile and online banking services, leading to a decline in physical branch visits.
Despite the closures, customers will still have access to services at Lloyds, Halifax, and Bank of Scotland branches, along with Post Offices and shared banking hubs. Additionally, cash deposits can be made at over 30,000 PayPoint locations nationwide. Other major banks like Santander, Barclays, and NatWest are also reducing their branch networks, raising concerns that traditional in-person banking may diminish in certain areas.
To provide alternatives, banks are introducing shared banking hubs where customers can conduct transactions and consult with advisors from different banks. As of August 19, 2025, 178 hubs had been established across the UK with more planned. Basic banking services are also accessible at over 11,500 Post Offices, although some advocates argue that this does not fully replace the presence of a dedicated branch.
Consumer advocacy groups have cautioned that the branch closures could disproportionately affect vulnerable populations such as the elderly, disabled, and those without digital access, particularly in rural regions with limited alternatives. The government-supported Cash Access UK program has acknowledged that millions of people still rely on cash for budgeting and daily needs, prompting discussions about the pace of transitioning towards a cashless society in the UK.
The recent wave of closures commenced on January 19 in Lewes, followed by Swadlincote on January 20. Branches in Hedge End, Penzance, and Petersfield are all slated for closure on January 21.
