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 due to the increasing popularity of online banking. The affected branches include 40 Lloyds locations, 14 Halifax branches, and 17 Bank of Scotland sites. Customers facing closures can utilize branches of any of these three banks for their regular banking needs or find nearby “banking hubs” established in shared public spaces on the high street.
According to a spokesperson from Lloyds Banking Group, the shift in customer banking behavior towards digital platforms has been significant, with over 21 million customers opting for apps to manage their finances. The group aims to provide enhanced flexibility by combining digital convenience with personalized services, offering customers the option to conduct everyday banking at Lloyds, Halifax, or Bank of Scotland branches, Post Offices, or banking hubs, and deposit cash at over 30,000 PayPoint locations.