A significant number of bank branches are slated for closure in 2026 as the trend of moving away from traditional high street locations accelerates. 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 projected closures to 102. Lloyds is at the forefront with 40 branches nearing closure or awaiting finalization.
Santander, Bank of Scotland, Halifax, and NatWest are also set to close 18, 17, 15, and 7 branches, respectively. Last year, Lloyds and Santander initiated numerous closures, citing the shift of customers towards digital banking services. By the end of this month, 35 branches will have closed, with two more closures in February and an additional 23 in March.
The remaining closures are scheduled for July and October or are pending confirmation. Cornwall has been heavily impacted by the withdrawal of major banks, with four closures already scheduled and two more pending finalization this year. Over the past few years, several closures have occurred, with Scotland’s Highland council area facing a potential loss of six banks this year.
Scotland is expected to lose 20 banks in total, while Wales and Northern Ireland will see five and one closures, respectively. In England, the South East and South West regions are the most affected, with 17 bank branches closing in each area. Since February 2022, when major banking groups committed to evaluating the impact of each closure, a total of 2,065 branches have either closed or announced closure plans.
To address the impact of bank closures on vulnerable customers and small businesses, the LINK initiative was established to oversee each closure and ensure access to cashless payments and virtual banking. In areas left without a local bank, banking hubs or free ATMs are being established to bridge the gap.
Nick Quin, Chief Corporate Affairs Officer at LINK, highlighted the increasing preference for digital banking among consumers but emphasized the continued importance of cash transactions. Gareth Oakley, CEO of Cash Access UK, noted the shift towards digital banking while assuring that new banking hubs are being introduced to cater to those still reliant on cash services. These hubs, along with deposit services and innovative cash solutions, aim to facilitate access to cash for businesses and consumers.