Lloyds, Halifax, and Bank of Scotland customers will no longer be able to deposit cheques at Post Office branches in a recent change. However, the option for withdrawing and depositing cash remains available. These banks, serving approximately 28 million customers collectively, eliminated the cheque deposit service last month, despite ongoing bank branch closures. Lloyds Banking Group has confirmed the closure of an additional 95 branches between May 2022 and March 2027, including sites from Lloyds, Halifax, and Bank of Scotland.
According to consumer group Which?, Lloyds Banking Group has shut down 1,470 sites over the past decade. To ensure continued access to cash nationwide, 14 new locations will host banking hubs. These shared spaces, managed by staff from various banks on different days, offer cash withdrawal and deposit services, along with bill payments.
A spokesperson from Lloyds mentioned that most customers now prefer depositing cheques through the bank’s app by simply taking a photo. For those still needing to deposit cheques physically, a new freepost cheque service has been introduced. Although the exact impact on staff from the closures was not specified, affected employees will be offered roles at other sites or within the company.
The ongoing closures will see 49 more sites shutter by October, following a previous announcement of 136 closures. Once the current closures are finalized, Lloyds will have 610 branches remaining. The company emphasizes providing customers with diverse banking options, including mobile apps, 24/7 messaging services, community bankers, PayPoint services, and access to physical branches.