A MAJOR bank is set to close 23 branches this month, as British high streets struggle to survive.
The first round of Santander’s closures is underway, after the bank announced in March of this year that they would be shutting at least 95 sites nationwide.
Santander is set to close 23 stores this month[/caption]
They cited the reason for the closures as customers moving increasingly online, reducing the need for in-person services.
A statement on its website reads: “We last did a major review of our branches in 2021.
“Since then, many of our customers are choosing to use Mobile, Online and Telephone Banking more, and branches less.”
However, there are concerns about the impact these closures could have on vulnerable people with limited access to online facilities.
Charities like Age UK are campaigning to maintain some in-person banking options, with 4 million older Britons unable to manage their finances online.
Caroline Abrahams, charity director at Age UK, said: “Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks.
“The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.”
The only alternative is ‘Banking Hubs’ which have been launched to give customers access to cash and services, regardless of which bank they are with.
In addition to the 95 closures countrywide, Santander will also be making changes to surviving branches.
This includes reduced opening hours, converting some to ‘counter-free’ businesses, and opening work cafes.
These ‘work cafes’ provide free co-working spaces, bookable meeting rooms and banking facilities, available to anyone, even if you aren’t a Santander customer.
The closures are part of a wider financial shift in which banks are prioritising online services.
According to consumer group Which?, more than 6,300 bank and building societies have closed since January 2015.
This averages out to 53 store closures per month.
Banks have reduced in-person services as customers move online[/caption]
Other major banks have also made the decision to close a number of branches, with 102 set to close across different banks this month.
This includes major providers like Lloyds, Natwest and Halifax, in addition to Santander’s closures.
Meanwhile Nationwide has promised to keep its nearly 700 branches open until the start of 2028 as they claim more customers are visiting their stores.
Santander is set to close even more stores over the coming months, with the dates of 18 branches still yet to be announced.
Reduced hours will come into effect on June 30, with 36 stores affected.
Here is the full list of June closures:
- Aberdare – 24 June
- Arbroath – 17 June
- Blackwood – 23 June
- Brecon – 25 June
- Clacton – 16 June
- Cleveleys – 23 June
- Croydon 128 NE – 16 June
- Dungannon – 23 June
- Eltham – 23 June
- Fleet – 30 June
- Gateshead Metro – 16 June
- Glasgow LDHQ – 24 June
- Glasgow MX – 23 June
- Greenford – 24 June
- Kidderminster – 18 June
- Kilburn – 17 June
- Launceston – 16 June
- Louth – 17 June
- Magherafelt – 24 June
- Musselburgh – 30 June
- Peterhead – 16 June
- Portadown – 30 June
- Swandlincote – 30 June
- Torquay – 17 June
