Where are Lloyds and Halifax closing 40 branches in 2023 and what does the high street exodus mean for you?
Lloyds Banking Group said it will close a further 40 branches this year, as the exodus of banking branches from Britain’s high streets continues.
Lloyds will close the doors at 22 branches while there will be 18 closures at Halifax. The branches will be closed between April and June this year.
The bank noted that the branches have seen fewer visits over the last five years, with visits falling by around 60 per cent.
A Lloyds Banking Group spokesperson said: “Branches play an important part in our strategy but we need to have them in the right places, where they are well-used. We’ll continue to invest in branches that are being used regularly, alongside our online, mobile app and telephone services.”
Lloyds confirmed that all of the branch locations announced for closure have at least one free to use ATM within a third of a mile and a Post Office within the same distance.
There will be no job losses as a result of the closures, although staff members will have to move to other locations or other parts of the business.
London closures include Marylebone High Street, Twickenham, Fenchurch Street, Crouch End and Putney
Many high street lenders have moved much of their operations online as the rise of online banking continues.
Stastita figures show online banking usage at 93 per cent in 2022, up from 32 per cent in 2007.
As a result more and more physical branches are being shut in 2023. HSBC will shut 114 branches in 2023, on top of the 69 it closed in 2022, while Natwest will close 43
Earlier this week Barclays confirmed it will close a further 15 branches, bringing its total figure of planned closures for the year to 26.