THOUSANDS of banking customers are set to see their local branch shut up shop this month as more outlets leave the high street.
The closure come as major high street banks move more of their banking services online.
Data from the UK’s largest cash machine network, LINK, keeps track of any planned branch closures across the UK.
So far, six branches are earmarked to close in June.
Lloyds Bank will close one in Wales while Halifax will shut one in England.
Danske Bank is set to close four branches in Northern Ireland.
It comes after 53 branches were closed for good in May.
Many people, particularly the elderly, still rely on in-person services and the closures will make it more difficult for this demographic to access accessible services.
But there are still a number of ways in which affected customers can access basic banking services without having to venture to the next town.
You can use one of the Post Office’s 11,635 branches to perform basic banking tasks — but not open new bank accounts or take personal loans and mortgages.
Many banks also offer a mobile banking service. This is where your bank brings a bus to your local area that has the services that are usually available at your branch.
You should call up your bank to see if it runs a banking bus and they will be able to tell you where and when it will be parked.
Other banks use buildings such as village halls or libraries to offer mobile banking services.
Banking hubs, which offer traditional shared services, have also been set up in four locations around the UK to help plug the gap — in Brixham, Cambuslang, Cottingham and Rochford.
There are plans to open dozens more hubs across the UK and the ATM provider LINK announced plans for a further eight new locations last month – taking the total number of planned hubs to 47.
The branches closing this month:
Halifax
- Saffron Walden, England, closing June 26
Lloyds
- Cardigan, Wales, closing June 27
Danske Bank
- Carrickfergus, Northern Ireland, closing June 7
- Belfast, Northern Ireland, closing June 7
- Sainfield, Northern Ireland, closing June 7
- Derry, Northern Ireland, closing June 7
HIGH STREET WOES
The news comes as high streets across the country feel the pinch from the cost of living crisis and the ongoing impact of the pandemic.
Just yesterday, Marks & Spencer shut two stores in the North East.
The city centre branch in Sunderland and the smaller site in Hexham, Northumberland, shut their doors for the last time.
Marks & Spencer CEO Stuart Machin has set about overhauling the legendary department chain in a bid to right the ship after several years of financial struggles.
The project has seen significant investment into the company’s food and clothing output, as well as its supply chain.
However, it has also been accompanied by swinging cuts to underperforming stores.
The closures come despite the company’s revival plan seemingly already starting to bear fruit.
Just last week, M&S reported its first dividend since 2019 as profits shot up by 58 per cent to over £716million, a rise much larger than had been expected.
The high street has been hit hard in recent years as shoppers increasingly turn to online retail.
High energy costs and business rates have further piled pressure on businesses.
This has left some remaining retailers grappling with budgets and having no choice but to close stores.
Several major brands have fallen into administration since the start of 2023, including Wilko and Paperchase.
This year, The Body Shop fell into administration and it has seen dozens of branches close, 82 will have shut in total by the end of the month.
Administrators for Ted Baker have confirmed 15 sites across England will close permanently in a blow to the high street.
Boots announced it would be closing 300 stores over the next year as part of plans to evolve its brand.
