Lloyds Bank customers will no longer be able to deposit cheques at Post Office branches due to recent changes. This adjustment also affects Halifax and Bank of Scotland, which are part of the Lloyds Banking Group. However, customers can still withdraw and deposit cash at Post Office locations.
The banking group, serving approximately 28 million customers, has reportedly eliminated the option to deposit cheques last month, despite announcing further closures of bank branches. Lloyds Banking Group confirmed that 95 more bank branches will be shut down between May 2022 and March 2027, including 53 Lloyds, 31 Halifax, and 11 Bank of Scotland branches.
In the past decade, Lloyds Banking Group has closed 1,470 sites, according to consumer group Which?. Meanwhile, the cash access network Link announced that 14 new locations will receive banking hubs to ensure continued access to cash nationwide. These shared spaces, operated by staff from various banks on different days, offer services such as cash withdrawals, deposits, and bill payments.
A spokesperson for Lloyds stated that most customers now prefer using the bank’s app to deposit cheques by taking a photo with their phone. For those who require it, a new freepost cheque service has been introduced. While the exact number of staff affected by the closures was not disclosed, Lloyds assured that employees at the closing branches will be offered alternative roles within the organization.
With ongoing closures, Lloyds is in the process of shutting down 49 more sites by October, following the announcement of 136 closures about a year ago. Once all planned closures are finalized, Lloyds will have 610 branches remaining.
Emphasizing customer flexibility, a Lloyds spokeswoman highlighted the various banking options available, including apps, 24/7 messaging service, community bankers, PayPoint, and access to branches of Lloyds, Halifax, and Bank of Scotland. This range of services aims to provide customers with the freedom to manage their finances conveniently and efficiently.