More than 100 bank branches are expected to shut down in 2026 as major banks continue to move away from physical locations. This year, closure dates have been confirmed for 73 branches across various major banks such as Lloyds, NatWest, Santander, Halifax, and Bank of Scotland.
An additional 29 branches have announced closure plans without finalized dates, totaling 102 closures. Lloyds is at the forefront with 40 branches nearing closure or awaiting finalization dates. Santander, Bank of Scotland, Halifax, and NatWest will also see closures, with 18, 17, 15, and 7 branches respectively set to shutter.
The decision to close branches was attributed to the shift in customer preferences towards digital banking services over in-person visits. By the end of this month, 35 branches will have closed, with more closures scheduled for February and March. Further closures are planned for July and October, with some dates yet to be determined.
Cornwall has been significantly impacted by the closures, with four branches confirmed to shut this year and two with pending closure dates. Over the past few years, a total of 45 banks have closed, with Scotland’s Highland council area also expecting six closures this year.
Scotland is set to lose 20 banks, Wales five, and Northern Ireland one. In England, the South East and South West regions will see the most closures, with 17 branches closing in each area. Since February 2022, over 2,000 branches have either closed or announced closure plans.
The LINK initiative ensures that vulnerable customers and small businesses are not left behind in the transition to digital banking. When communities are left without local banks, banking hubs and free ATMs are established to provide essential services.
According to Nick Quin, Chief Corporate Affairs Officer at LINK, the increasing trend towards digital banking is reshaping the industry. Despite this, cash remains crucial, with over £76 billion withdrawn from LINK cash machines last year.
Gareth Oakley, CEO of Cash Access UK, highlighted the opening of more banking hubs to cater to customers who still rely on cash and in-person banking services. These hubs serve customers from various major banks in one location, offering deposit services and other cash solutions to meet consumer needs.