A total of 397 banks have closed or will close in England in 2023, with 37 in Wales, 20 in Scotland, and five in Northern Ireland.
Branch closures are due to a rise in online services, the popularity of mobile banking, and the running costs of branches. Of the bank closures announced or have already occurred this year, Barclays has overseen the most closures, with 122 branches.
It is followed by HSBC , NatWest , Lloyds , and Halifax . Barclays is closing or has closed most branches in areas that have no other physical banking services , followed by Lloyds and then Nat West .Barclays said it maintains an in-person presence in over 200 locations 'where there is no longer enough demand to support a branch' through the Barclays Local network, based in libraries, town halls, mobile vans, and 'banking pods'.
A spokesperson for Lloyds Banking Group, which owns Halifax, Lloyds Bank and several other firms, said increasing demand for online banking meant it needed to continue to develop 'services our customers want to use'. Lloyds said its branches would 'continue to be an option for our customers alongside our telephone services, mobile app and online bank'.
A NatWest spokesperson said:"We understand and recognise that digital solutions aren't right for everyone or every situation and that when we close branches, we have to make sure that no one is left behind. We take our responsibility seriously to support the people who face challenges in moving online, so we are investing to provide them with support and alternatives that work for them.
What are your thoughts on the closures? Are you happy to bank online? Let us know in the comments below.
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