Experts at Martin Lewis’ MoneySavingExpert (MSE) have given a rundown on at least 292 branches shutting their doors this year and next across three major banks. The vast number of closures come after the launch of a drastic UK initiative designed to protect access to cash on the high street.
Almost 300 banks have already closed so far this year and, by the end of 2024, a staggering 415 branches may be lost. Among them, 124 closures will leave the communities they served with no remaining branches of any bank, according to a stark Mirror report.
MSE claims that 19 more Lloyds branches (total of 128) and four more Bank of Scotland branches (total of 45) will be encompassed in the next wave of closures between 2024 and 2025. Around 32 Halifax branches will be included in this too, as part of a whopping 119 shutting.
The experts explained: “If you no longer want to stay with Lloyds, Halifax or Bank of Scotland, you might want to consider switching to a bank that does have a local branch nearby – though bear in mind there’s no guarantee that too won’t close.”
