More than 100 bank branches are scheduled to shut down in 2026 as the trend of moving away from physical locations on the high street continues rapidly.
Since the beginning of this year, closure dates have been confirmed for 73 branches of major banks such as Lloyds, NatWest, Santander, Halifax, and Bank of Scotland. Additionally, another 29 branches have announced closures without finalizing the dates, bringing the total number of planned closures to 102. Lloyds is at the forefront with 40 branches nearing closure or awaiting finalization of the shutdown date.
Santander, Bank of Scotland, Halifax, and NatWest are also part of the closure wave, with 18, 17, 15, and 7 branches respectively on the list for closure.
The decision for these closures was attributed to the shift in customer behavior towards digital banking services, prompting Lloyds and Santander to announce a significant number of closures last year.
By the end of this month, 35 branches will have disappeared from high streets, with two more set to close in February and an additional 23 in March. The remaining closures are scheduled for July and October or are pending finalization. Cornwall has been heavily impacted by the retreat of major banks from high streets, with four closures confirmed for this year and two more branches yet to announce their closure dates.
Last year witnessed 13 branch closures, while in 2024, 2023, and 2022, six, 14, and six branches closed, totaling 45 banks lost. Scotland’s Highland council area is also expected to lose six banks this year, including two without confirmed closure dates.
Overall, Scotland is projected to lose 20 banks, with five closures in Wales and one in Northern Ireland. Among the 76 remaining closures in England, the South East and South West regions are the most affected, with 17 bank branches closing in each area.
Since February 2022, when major banking groups committed to evaluating the impact of every closure, a total of 2,065 branches have either shut down or announced closure plans.
To ensure that vulnerable customers and small businesses are not left behind in the transition to digital and cashless payments, the LINK initiative has been monitoring each closure and establishing banking hubs or free ATMs in communities left without a local bank.
Nick Quin, Chief Corporate Affairs Officer at LINK, highlighted the increasing preference for digital banking among consumers and the importance of maintaining cash services, emphasizing the commitment to protecting the cash infrastructure for those who rely on it.
Gareth Oakley, CEO of Cash Access UK, mentioned the evolving banking trends towards digital platforms but reassured those dependent on cash that more banking hubs are being established. These hubs, alongside deposit services and innovative cash solutions, aim to provide easy access to cash for businesses and consumers in need.