Over 100 bank branches are scheduled for closure in 2026 as the trend of moving away from physical locations on the high street continues rapidly.
This year, closure dates have been confirmed for 73 branches of major banks such as Lloyds, NatWest, Santander, Halifax, and Bank of Scotland. An additional 29 branches have announced closure plans without finalizing dates, bringing the total to 102 closures. Lloyds is at the forefront with 40 branches nearing closure or awaiting finalization.
Santander, Bank of Scotland, Halifax, and NatWest are also part of the closure wave, with 18, 17, 15, and 7 branches, respectively, set to shut down.
Last year, Lloyds and Santander initiated a significant number of closures, attributing the decisions to the shift of customer preferences towards mobile banking over in-person visits.
Currently, 35 branches have already closed, with two more to follow in February and an additional 23 in March. The remaining closures are planned for July and October or are yet to be determined. Cornwall has been significantly impacted by the closing of four banks this year, with two more awaiting closure dates.
In the past years, a total of 45 banks closed, including 13 in 2021, six in 2024, 14 in 2023, and six in 2022. Scotland’s Highland council area is also expected to lose six banks this year, with two not yet announcing closure dates.
Scotland is anticipated to lose 20 banks, with Wales losing five and Northern Ireland one. In England, the South East and South West regions are most affected, each facing the closure of 17 bank branches.
Since February 2022, a total of 2,065 bank branches have either closed or announced future closures following a voluntary agreement among major banking groups to evaluate the impact of each closure.
The LINK initiative was established to oversee closures and ensure that vulnerable customers and small businesses are adequately supported during the transition to digital and virtual banking. When communities are left without local banks, banking hubs or free ATMs are established to bridge the gap.
Nick Quin, Chief Corporate Affairs Officer at LINK, emphasized the importance of maintaining cash services despite the digital shift. Gareth Oakley, CEO of Cash Access UK, highlighted the opening of more banking hubs to cater to those still reliant on cash and in-person services.
The rise of digital banking has prompted changes in the industry, but efforts are being made to ensure access to cash services for those who need it, with the opening of more banking hubs and innovative cash solutions.