High street banks like NatWest, Lloyds, and others are planning to close 162 branches in the coming months. NatWest will shut down 52 physical banks, Halifax 42, Lloyds 40, Santander 19, and Bank of Scotland 9. The rise in online banking usage has led to the closure of many branches, raising concerns among charities about accessibility to essential banking services for vulnerable individuals.
Since January 2015, banks and building societies have closed a total of 6,522 branches, averaging 53 closures each month as per Which? data. In case your local branch is closing, basic cash and counter services can be availed at the nearest Post Office, such as cash deposits, withdrawals, and balance inquiries.
Some banks now offer pop-up branches or mobile vans, but it is advisable to check online for schedules in your area. Stay updated on money news and deals by joining the Money WhatsApp group or signing up for Mirror’s Money newsletter for valuable advice and shopping offers directly to your inbox.