Santander has announced plans to close 95 bank branches and will reduce the opening times in some locations – resulting in 750 jobs being cut. The high street bank will turn 18 of its remaining branches into counter-free banks, while a further 36 will be reduced hours branches.
Santander currently has 444 branches. The changes mean it will have 290 full-service branches and five work cafés – which are free co-working spaces – once the closures and changes to other branches have been implemented. Customers who are impacted by the closures will be able to visit a Santander community banker, who visit local community venues for a set period of time to provide account management support.
There are also banking hubs, which are shared spaces on the high street where customers can deposit and withdraw cash and perform other everyday banking tasks. Santander customers can also visit their nearest Post Office to pay in and withdraw cash, check their balance, and deposit cheques.
Santander said the closures are down to more people using online banking. The bank said it has seen a 63% increase in digital transactions since 2019, while financial transactions completed in branches reduced by 61% in the same period. Santander estimates 93% of the UK population will continue to be within 10 miles of a Santander branch.
The bank will be contacting all potentially vulnerable customers by phone if their branch is closing. It has also published details of its dedicated phone number that is available to provide customers with help and information on the closures, which you can contact on 0330 678 2469.
A spokesperson for Santander UK, said: “As customer behaviour changes, we are ensuring that our branches remain fit for the future. Our new combination of full-service branches, alongside Work Cafés, counter-free branches and reduced hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance.
“As a business, we must move with customers and balance our investment across all the places where we interact with customers, to deliver the very best for them now and in the future. Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers.
“However, we believe that the introduction of our new Community Bankers and the exciting plans we have for our remaining network of 349 branches and Work Cafés, alongside the rapid and innovative improvements to our award-winning mobile banking app, will provide the right balance of digital banking and human interaction when required.”
The latest data from Which? shows banks and building societies have closed 6,293 branches since January 2015, at a rate of around 53 each month. This represents 64% of the branches that were open at the start of 2015. Santander said it is investing in more work cafés, with two new work cafés recently opened, and an additional site to be announced shortly.
The bank said it has also invested tens of millions of pounds in a branch investment programme over the last two years, refurbishing 99 branches, with a further 50 branches due to be completed over the coming year. The newly refurbished branches include a digital self-serve room providing customers with privacy as well as the space to talk to specific teams, and access online banking.
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