Santander has announced the closure of 95 bank branches as part of a significant restructuring plan. This move will also involve adjustments to the operating hours of some branches.
Approximately 750 jobs will be cut due to these changes. Santander, currently operating 444 branches, plans to reduce this number to 290 full-service branches and five work cafés, which are free co-working spaces, after the reorganization.
In 18 remaining branches, Santander will eliminate the front desk to create counter-free banks. Additionally, 36 branches will see reduced operating hours, opening either on specific weekdays from 9:30 am to 3:00 pm or on Saturdays from 9:30 am to 12:30 pm.
Effective June 30, 2025, the branches will operate on reduced hours, except for the Caerphilly branch. The decision to close branches is attributed to the increasing trend of online banking, with a 63% surge in digital transactions since 2019 and a 61% decline in financial transactions conducted in branches during the same period.
Despite the closures, Santander estimates that 93% of the UK population will still have a branch within ten miles. For affected customers, alternative banking options include Santander community bankers, banking hubs, and utilizing Post Office services for various transactions.
Santander will personally reach out to vulnerable customers impacted by branch closures. The bank has set up a dedicated hotline at 0330 678 2469 to assist customers with information regarding the closures.
A Santander UK spokesperson emphasized the company’s commitment to adapting to changing customer behaviors. They highlighted the introduction of Community Bankers and plans for the remaining branch network and Work Cafés to strike a balance between digital banking and in-person financial guidance.
In the past two years, Santander has invested millions in refurbishing branches, with more refurbishments planned for the coming year. The refurbished branches now feature digital self-serve rooms for customer privacy and enhanced online banking access.