High street banks such as Santander, NatWest, Lloyds, and Halifax are planning to close a total of 52 branches in May. According to Which? magazine, banks and building societies have collectively shut down 6,719 branches since January 2015, averaging around 53 closures per month.
The rise in online banking usage is cited as the primary reason for these closures, although concerns have been raised by charities about the potential impact on vulnerable individuals who rely on physical bank locations for cash access.
In May, Santander is scheduled to close 27 branches, while NatWest will be shutting down 15. Lloyds Bank will be closing eight branches, and Halifax will be closing two locations.
For a detailed list of the branch closures set for May, see below.
Santander’s spokeswoman mentioned that the shift towards digital banking has prompted adjustments to better cater to customer needs across various branch formats. NatWest also emphasized its ongoing investment in branches despite necessary closures to minimize disruptions for customers and staff.
Lloyds Banking Group’s spokesperson highlighted the importance of offering customers multiple banking options, including mobile apps, messaging services, and local branch access to ensure flexibility and convenience in banking needs.
