Lloyds Banking Group announced the closure of 136 branches across the UK, attributing the decision to the shift towards mobile banking and online services. While customers will still have access to telephone banking, community bankers, and Halifax, Lloyds, and Bank of Scotland branches, the closures raise concerns about the availability of cash services in local communities.
LLOYDS Banking Group has announced that it will be shutting a total of 136 branches across the UK high street.Lloyds blamed the decision to shut the branches on customers shifting away from banking in person to using mobile services."Alongside our apps, customers can also use telephone banking, visit a community banker or use any Halifax, Lloyds or Bank of Scotland branch, giving access to many more branches.
Banks and building societies have closed 6,161 branches since January 2015 at a rate of around 53 each month, according to Which?.Once all previously announced closures are complete, Lloyds Banking Group will have a total of 757 branches - 386 Lloyds, 281 Halifax, and 90 Bank of Scotland.When they make changes, they need to check whether local communities will be left without important cash services, like branches or ATMs, and fix any significant gaps.
The vast majority of banking customers are moving online and don't need a physical branch as much as before.BANKING hubs offer a range of services to bridge the gap left by the closure of local branches. Each hub features private booths where customers can discuss more complex banking matters with staff from their respective banks.
BANKING BRANCH CLOSURES MOBILE BANKING CASH SERVICES COMMUNITIES
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