Lloyds, Barclays, Natwest, Halifax and Santander to Close 24 Branches in November – Full List

Banking Giants Prepare for a Major Round of Branch Closures

In a significant reshaping of the UK’s high street, five major banks are set to close 24 branches across the country in November. The affected institutions include Lloyds Bank, Barclays, NatWest, Halifax, and Santander. This move comes as part of an ongoing strategy to streamline operations and adapt to changing consumer preferences towards digital banking services.

The closures will disrupt access to in-person banking for millions of customers, with specific branches including Biggleswade, Blandford, Bristol Bishopsworth, Chard, Coventry Foleshill, Dunstable, East Grinstead, Feltham, Ferndown, Hexham, Loughton, Manchester Newton Heath, Plymstock, Pontardawe, Sheffield Woodhouse, Shipston-on-Stour, and others. Additionally, two Bank of Scotland branches will also permanently close.

Historical Context: A Decade of Branch Decline

Data from the consumer magazine Which? reveals that since January 2015, a total of 6,443 bank and building society branches have closed across the UK. This staggering figure represents an average of 53 closures per month over nearly a decade. The decline has been most pronounced in recent years: annual closures peaked at 633 in 2023 but dropped to 399 last year, with an expected further reduction to 364 by the end of 2025.

According to a House of Commons Library report, the decline in cash and banking services is partly due to “changing consumer behaviour” as more individuals and businesses opt for online banking and digital payments. The report also notes that reductions in ATM earnings are driving further industry changes, which have resulted in fewer banking services available.

Impact on Vulnerable Groups

The reduction in bank branches has raised concerns about its impact on vulnerable groups. A spokesperson from the House of Commons Library highlighted that a decrease in cash and banking service availability disproportionately affects elderly individuals, those who are digitally excluded, and people with low incomes. These groups may face additional challenges in accessing financial services due to reduced physical branch networks.

The closure of branches could also affect businesses, particularly those dealing with high volumes of cash transactions. Some businesses might start refusing cash payments as a result, potentially creating further difficulties for individuals who rely on cash for their daily needs.

Industry Perspectives and Future Outlook

Experts believe that the trend towards digital banking will continue in the coming years, although at a slower pace than before. The UK’s financial services sector is expected to undergo further consolidation as banks adapt to new technologies and consumer preferences. However, the ongoing closure of branches poses challenges for those who are less familiar with online banking systems.

Industry watchers suggest that while digital platforms offer convenience, they cannot entirely replace the in-person support provided by traditional branch networks.

For many customers, particularly those in rural or remote areas, the loss of physical bank access could be a significant inconvenience.

The November closures mark just one part of an ongoing transformation in the UK’s banking landscape. As digital technologies continue to evolve, banks will need to balance their commitment to innovation with the needs of consumers who still rely on traditional banking methods.