More than 6,000 bank branches now gone in nine years of ‘disastrous’ closures | Banks and building societies

The number of UK bank branches to close for good in the past nine years will top 6,000 on Friday, and by the end of the year the pace of closures could leave 33 parliamentary constituencies – including two in London – without a single branch.

The data is published by the user group Which? as it seeks to turn the “avalanche” of closures and the “disastrous” impact they can have on local communities into an election battleground.

Eight more Barclays branches are due to close on Friday, taking the total to 6,005 since 2015, when Which? started counting.

Barclays is the bank accused of closing the most branches: its closed offices are said to make up around 20% (1,216) of the total.

The rate of closures peaked in 2017 but appears to have slowed before what the consumer group described as an “alarming spike” in recent months. It accused banks of “seemingly engaging in a race to close branches” after the government announced plans in 2020 for laws to protect access to money, which would potentially make it harder to close a branch if there is no alternative provision.

New closures are announced every few weeks, with banks justifying the reduction of their networks by saying that customers are rejecting traditional counters in favor of online and mobile banking.

There are now 200 planned closures for the remainder of 2024, including 50 from NatWest, 43 from Lloyds, 28 from TSB, 26 from Halifax, 20 from Royal Bank of Scotland and 14 from Barclays. The number of branches lost is equal to 60% of the national network that existed nine years ago.

In London, two constituencies – Erith and Thamesmead and Dagenham and Raynham – are expected to become banking hotspots, as is Sedgefield, the old seat of former prime minister Tony Blair.

Banking trade body UK Finance said changing customer habits – with increasing numbers going online and using mobile banking – meant banks “have to make tough decisions about keeping their branches”.

While millions of consumers have switched to digital banking, there are still a significant number who are not yet ready or willing to make the leap and need affordable alternatives.

With general elections taking place in the coming months, Which? said the next government should commit to providing at least 200 banking centers in the first two years after the election.

The centers operate in a manner similar to a standard branch, with a counter manned by Post Office staff where customers of almost any bank can withdraw and deposit cash, make bill payments and carry out regular transactions.

The UK’s 50th banking center opened last Friday and Cash Access UK – a bank-funded organization set up to protect access to cash across the country – said it was aiming to reach 100 by the end of the year.

Some banks still require customers to come to a physical branch to complete certain tasks such as registering a power of attorney, which for some individuals may require long bus or taxi trips to their nearest branch.

Sam Richardson, deputy editor of Which? Parry said that while some people would hardly notice the closure of their local branch, “for others relying on face-to-face services, the impact could be catastrophic”.

In response to being named the single bank to close the most branches, Barclays said: “As branch visits continue to decline, we need to adapt to provide the best service for all our customers. Where demand levels do not support a branch, we maintain an in-person presence through our local Barclays network, live in over 350 locations based in libraries, town halls, mobile vans and our banking floors.”

The constituencies are expected to have no bank branches by the end of the year

• Barnsley East (approximate population: 94,000)

• Bolton West (98,000)

• Bradford South (106,000)

• Bury South (103,000)

• Central Suffolk and North Ipswich (102,000)

• Chatham and Aylesford (103,000)

• Clwyd South (70,000)

• Colne Valley (112,000)

• Dagenham and Rainham (117,000)

• Denton and Reddish (88,000)

• Don Valley (99,000)

• East Worthing and Shoreham (99,000)

• Erith and Thamesmead (117,000)

• Glasgow North East (88,000)

• Liverpool, West Darby (94,000)

• Mid Bedfordshire (121,000)

• Mid Derbyshire (83,000)

• Newport East (84,000)

• North East Derbyshire (92,000)

• Nottingham East (98,000)

• Penistone and Stocksbridge (89,000)

• Plymouth Moor View (94,000)

• Reading West (112,000)

• Rhonda (68,000)

• Sedgefield (85,000)

• Sheffield Hallam (85,000)

• St Helens North (100,000)

• Stone (86,000)

• Swansea East (81,000)

• Warrington North (95,000)

• Wentworth and Dearne (100,000)

• Wirral West (68,000)

• York Outer (92,000)

Source: Which?