More than 100 bank branches are scheduled to shut down in 2026 as the trend of moving away from physical locations on the high street continues rapidly.
This year, closure dates have been confirmed for 73 branches of major banks such as Lloyds, NatWest, Santander, Halifax, and Bank of Scotland. An additional 29 branches have announced closure plans without finalizing dates, totaling 102 closures. Lloyds is at the forefront with 40 branches nearing closure or awaiting finalization.
Santander, Bank of Scotland, Halifax, and NatWest are also set to close 18, 17, 15, and 7 branches, respectively. The decision for these closures was attributed to the increasing preference of customers towards digital banking services over in-person visits.
By the end of March, a total of 35 branches will have disappeared from high streets, with closures continuing in February and March. The remaining closures are scheduled for July and October or are yet to be determined. Cornwall has been most impacted by these closures, with four banks already scheduled to shut down this year.
Last year saw 13 branch closures, with a cumulative loss of 45 banks over the past few years. Scotland’s Highland council area is also expected to lose six banks this year. In total, Scotland will lose 20 banks, with additional closures in Wales and Northern Ireland. England, particularly the South East and South West regions, are heavily affected, with 17 branch closures in each region.
Since February 2022, major banking groups have been evaluating the impact of closures under a voluntary agreement, resulting in 2,065 branches shutting down or announcing closure plans. A LINK initiative was established to oversee each closure and ensure that essential services are maintained for vulnerable customers and small businesses transitioning to digital banking.
In response to community needs, banking hubs and free ATMs are being established in areas left without local bank services. The shift towards digital banking is evident, with more banking hubs opening every week to accommodate customers’ changing preferences. These hubs are becoming busier, offering a range of services to meet the needs of businesses and consumers relying on cash transactions.