Approximately 100 bank branches are expected to close in 2026 as part of the ongoing trend of high street withdrawals. This year has already seen 73 branches of major banks, such as Lloyds, NatWest, Santander, Halifax, and Bank of Scotland, confirm closure dates.
An additional 29 branches have revealed closure plans without finalizing dates yet, totaling 102 closures. Lloyds leads with 40 branches nearing closure or awaiting a set date. Other closures include 18 Santander branches, 17 Bank of Scotland branches, 15 Halifax branches, and seven NatWest branches.
Last year, Lloyds and Santander announced closures, attributing the shift to customers opting for mobile banking over in-person services. By the end of this month, 35 branches will have closed, with more closures scheduled for February and March.
The remaining closures are planned for July and October or are pending confirmation. Cornwall is most impacted by major bank retreats, with four closures confirmed and two awaiting closure dates this year. In recent years, branch closures have affected various regions, including Scotland’s Highland council area and England’s South East and South West.
Since February 2022, over 2,000 branches have either closed or announced closure plans following a voluntary agreement by major banking groups to evaluate closure impacts. The LINK initiative ensures support for vulnerable customers and businesses during the transition to digital banking.
In response to branch closures, banking hubs and free ATMs are established in communities left without local banks. Despite the shift to digital banking, the importance of cash remains, with over £76 billion withdrawn from LINK cash machines last year.
Officials emphasize the commitment to preserving cash services for those who rely on them, with ongoing efforts to provide banking hubs and deposit services to meet customer needs. The rise of such hubs, with around 150 transactions daily on average, aims to facilitate cash access for businesses and consumers.