Third of UK bank branches closed in past five years
A third of all UK bank and building society branches were closed in the past four and a half years, according to research by consumer group Which?.
The closures, which amount to more than 3,000 branches in total from January 2015 to August 2019, were driven mostly by the ‘Big Four’ banks: Barclays, HSBC, Lloyds Banking Group and RBS Group.
RBS closed 74% of its branches during the period, while NatWest shut 49% of its outlets. The majority of the more than 1,000 RBS closures were in Scotland and the North West of England.
Barclays closed at least a third of its branches, or 481, although the true figure could be higher as the bank did not share full closure information with Which?.
HSBC shuttered two fifths of its network, or 442 branches, while Lloyds Banking Group closed a quarter of its network overall, or 404 branches.
Santander shut 294 branches, while the Co-op and Yorkshire Bank closed 152 and 74, respectively, Which? said.
According to the research, Nationwide Building Society stood alone in retaining 96% of its branches.
Which? money editor Jenny Ross said: "Banks are closing their branches at an alarming rate, which risks shutting many people out of vital financial services and affecting their ability to access their own cash.
"Bank branches play a crucial role within communities, serving consumers and businesses alike.
"The industry must ensure no-one is left behind by the digital transition and that when banks shut their doors, they don't shut their customers out of important banking services."