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Join Which? MoneyBank branch closures: could changes be on the way?
A government review is considering how to protect face-to-face banking as branches disappear
Josh is an award-nominated journalist with nearly a decade of experience, including writing for national newspapers. A data whizz, he specialises in covering personal finance and investing.
With 214 bank branches shuttered this year, and 100 more due to go by the end of December, the government has launched a review of banking services.
Putting out a call for evidence, the Treasury is concerned that reshaped branch networks and the push towards digital banking have made life harder for people who rely on face-to-face services.
The announcement has triggered responses from a range of stakeholders, including Which?. Here is what you need to know.
What will the review cover?
The aim of the review is to gather up-to-date evidence of the challenges faced by those who need in-person banking services.
The government will use this evidence to establish the impact of service changes, identify who is most affected, and determine the steps needed to protect essential services.
The call for evidence focuses particularly on vulnerable consumers and those with specific access needs.
The final report, which is expected to contain new recommendations, will be published in October.
- Find out more: Is your local bank closing?
The scale of branch closures
Which? has been tracking branch closures for more than a decade now. By our count, banks and building societies have closed a staggering 6,872 branches since January 2015 – 69% of the nation’s physical banking network.
A survey of Which? members last year found that 40% had lost access to their local bank branch in the past five years.
We’ve also investigated community banking hubs, which have long been touted as the solution to Britain’s banking crisis.
Although customers of all major banks can use hubs for basic counter services, not every bank will send community bankers to every hub.
Most hubs are also closed at the weekend, and banking representatives are only available on a rotational basis, with one day per week usually given to each represented bank.
In addition, many hubs don’t offer the full range of banking services you would expect to find at a traditional bank.
Banking hub openings have been gathering pace
*2026 data is for the year up until August 12
- Find out more: Are banking hubs keeping up with bank branch closures?
Who stands to lose out the most?
Many older people rely on physical branches or a local post office to manage their money. Research from Age UK shows that 75% of people aged 65 and over want to do at least some of their banking in person
The most requested in-person services include:
- Depositing money (50%)
- Managing bereavement procedures (29%)
- Opening new accounts (28%).
High street banks point to reduced footfall and digital banking as reasons for closures. Yet 2.6 million adults in the UK still used physical cash for most of their purchases in 2024, according to the Financial Conduct Authority (FCA).
- Find out more: Is this the end of TSB?
What could this mean for you?
While the FCA currently has the power to delay branch closures, it can’t keep branches open indefinitely.
Responding to the request for evidence, Which? has highlighted the need for stronger statutory powers, as well as expanding the role of community banking hubs.
There remains room for improvement with the operation of hubs, particularly regarding the limited hours offered by banking representatives, the range of services offered, and the lack of consistency across hubs.
Additionally, the provision of shared banking hubs relies on voluntary undertakings from the banking industry. Which? would like to see this placed on a firmer statutory footing, with a requirement for retail banks to engage.
Age UK is also pushing for legislation to put the provision of physical banking services on a statutory footing, and wants hubs to fully replicate the usual services provided in a typical bank branch.
- Find out more: Could this be your new bank branch?
