Three major high street banks, including Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, are planning to shut down a total of 71 branches next year due to the increasing trend of online banking. The closures were initially announced earlier this year and will affect 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites.
Customers of Lloyds, Halifax, and Bank of Scotland will have the option to conduct their everyday banking at branches of any of these three banks. Additionally, they can explore the possibility of using nearby “banking hubs,” where banking services are offered in shared public spaces on the high street.
According to a spokesperson for Lloyds Banking Group, the shift in customer behavior towards digital banking is evident, with more than 21 million customers opting for apps to manage their finances. The group aims to provide increased flexibility by combining digital convenience with personalized customer service. Customers can also utilize any Lloyds, Halifax, or Bank of Scotland branch, the Post Office, or various banking hubs for their banking needs, along with the option to deposit cash at over 30,000 PayPoint locations.