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Lloyds Bank and Halifax reveal additional 66 bank branches will close

Find out if your local bank branch will be shutting its doors this year
Lloyds branch

Lloyds Banking Group has announced the closure of an additional 66 bank branches, on top of the 88 it had already earmarked to shut. 

The new closures include 48 Lloyds Bank branches and 18 Halifax sites. This means the banking giant will be closing 141 in total in 2022, and 13 in January 2023.

Here Which? takes a closer look at what branches are closing, and explains how the new access to cash legislation announced in the Queen’s Speech will impact bank branch closures in the future.

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Which Lloyds Group branches are closing?

Here are the locations of the 66 new closures confirmed by the banking group in July. You can use the search bar to see whether your local branch is affected.

The table below shows the branch closures that had already been announced earlier this year in March, and in May. Again, you can use the search bar to see if your local branch is listed. In the table, BoS refers to Bank of Scotland.

Why are more branches closing?

Lloyds Banking Group says that as it has 19m online banking customers and over 15m mobile app users, it needs to make sure 'its branches are in the right place,  where they are being used regularly'. 

It said branch closures were a result of a significant reduction in branch visits over several years, and added that average visits to each of these branches listed for closure had dropped by 60% since 2016.

It said each of these locations had a free-to-use ATM and a Post Office within one mile

Russell Galley, director of consumer relationships at Lloyds Banking Group, told us: 'Our customers have more choice than ever in how they bank with us. As our customers do more online, visits to some branches have fallen by as much as 85% over the last five years. 

'Alongside our digital, online and telephone services, we'll continue to invest in our branches, but they need to be in the right places, where they're well-used.'

LINK - the UK's main ATM operator, and the body in charge of reviewing the impact of bank branch and ATM closure decisions - has recommended the following cash solutions, as a result of the Lloyds closures:

  • A banking hub in Looe and Welshpool
  • An additional ATM in Helston and Bishops Waltham.

Over 400 bank branches will close in 2022

Once the Lloyds Banking Group closures are complete, it will have 1,321 branches made up of:

  • Lloyds Bank: 646
  • Halifax: 510
  • Bank of Scotland: 165

Lloyds is not the only banking group to announce closures this year - with many being announced since legislation was revealed in the Queen's Speech to protect access to cash. In the last month, we've had announcements from NatWest Group and Barclays

 The list below sets out how many branches each bank has already closed in 2022, how many more it plans to close by the end of the year.

  • Barclays: 76 closed; 83 scheduled to close
  • Danske Bank: Four branches scheduled to close
  • HSBC: Seven closed; 63 scheduled to close
  • NatWest (including Royal Bank of Scotland): 55 closed; 28 scheduled to close
  • Nationwide: Five closed, six scheduled to close
  • Metro Bank: Three closed
  • Santander: One scheduled to close
  • TSB: 70 closed 
  • Virgin Money: 30 closed 

Find out more: is your local bank branch closing?

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What's being done to protect access to cash?

In May during the Queen’s Speech, the government pledged to bring forward a Financial Services and Markets Bill following a longstanding campaign on cash access from Which?. 

The legislation aims to 'strengthen the United Kingdom's financial services industry, ensuring that it continues to act in the interest of all people and communities'. 

Part of this includes making sure people across the UK can access their own cash with ease.

A Financial Services and Markets Bill was given its first reading in Parliament in July. 

What's in the Financial Services and Markets Bill?

The bill will ensure people can continue to conveniently withdraw and deposit cash, and the cash provision will be regulated by the Financial Conduct Authority (FCA).

To make sure people can still access cash, the FCA will be given new powers to enforce this, and could stop banks and building societies from closing cash access services if there was no suitable alternative.  

However, separate rules will apply in Northern Ireland, as the banking market works differently. 

The FCA will also be given oversight of coordinating bodies, with powers to access information from designated firms and organisations involved in the provision of cash. 

To support the FCA, the government said it will soon set out its expectations for a reasonable distance for people to travel when depositing and withdrawing cash. This will reflect the existing spread of cash withdrawal and deposit facilities in the UK, it added

Further details such as the criteria for cash provision and geographic distances will be set out by the Treasury in a policy statement. 

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Why is cash legislation needed?

Which? has been tracking bank branch closures since 2015, and during this period 4,834 have shut their doors, with a further 305 already scheduled to close by the end of the year and 15 due to close in 2023

In addition, a total of 12,178 free-to-use ATMs have vanished since 2018, creating areas of the UK with particularly poor access to cash. 

However, LINK estimates 5.4m people still rely on cash. 

Cash is a lifeline to many vulnerable groups in society including the elderly, digitally excluded, low income households and those struggling with mental illness or physical disability.

Recent Which? research suggests people's reliance on cash could be on the rise due to the cost of living crisis; with households turning to cash to keep track of their spending.

‘Which? will scrutinise the legislation closely’ 

Which? will scrutinise the legislation closely in the coming weeks to ensure that adequate consumer protections are in place. 

Rocio Concha, Which? Director of Policy and Advocacy, says: ‘It's good to see the government moving quickly on this important legislation, which will pave the way for protection of access to cash for millions of people who rely on it, and give reassurance to consumers that they will have greater protection against suffering significant losses if they fall victim to a bank transfer scam.'