The 19 bank branches closing in February including Belfast, Swindon and St. Ives
The 19 bank branches closing in February including Belfast, Swindon and St. Ives
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HUNDREDS of bank branches are set to close this year after a whopping 45 outlets were shut in January alone. February has 19 confirmed closures, according to tracking data from LINK, which works out as two branches shutting every three days. Research from consumer champion Which? found that banks and building societies across the UK have closed 6,228 branches in total since January 2015.
On average, that works out at almost two branches shutting every single day for a decade. Which? says this is 63% of all the branches that were open when its research began. Worryingly, banks and building societies are continuing to press ahead with closures.
This is particularly concerning for older people who may not be banking online. While the rate of closures has slowed, the research found that 410 bank branches shut in 2024 - more than one a day on average. And despite it only being January, there are already 114 planned branch closures this year, with more expected to follow.
Here are all the closures planned for February. Lloyds bank closures: 11 planned. Halifax bank closures: 5 planned. Bank of Scotland closures: 3 planned. Which?'s research found that the NatWest Group has been the worst offender so far, closing 1,431 branches across NatWest, Royal Bank of Scotland and Ulster Group since its research began.
Lloyds Banking Group, which comprises Lloyds, Halifax and Bank of Scotland, closed down 1,252 of its premises. But Barclays customers have been hardest hit overall, with 1,230 sites closed. Region makes a big difference in terms of whether you want access to a banking service in person. For instance, Which? has identified 30 constituencies that have no bank branches left at all.