A wave of bank closures is sweeping across the UK, with nearly 300 branches shutting their doors this year alone. Merseyside, like many other regions, is not immune to this trend, as our interactive map reveals the banks set to close in your area.
The closure of bank branches has become increasingly commonplace, with an average of 10 branches closing each week in the UK since the launch of an initiative aimed at safeguarding access to cash on the high street. This initiative, agreed upon by major banks including Barclays, HSBC, NatWest, Lloyds, and Halifax, aims to ensure that vulnerable customers and small businesses aren't left behind as the shift towards cashless payments and digital banking accelerates.
However, concerns are growing about the impact of these closures, particularly on those who rely on in-person banking services. By the end of 2024, a total of 415 branches are expected to have vanished from the high street. Of particular concern is the fact that 124 of these closures will leave communities without a single bank branch remaining, leaving residents with limited access to essential banking services.
The British Independent Retailers Association (Bira) has voiced its concerns, arguing that the closures disproportionately impact small businesses and vulnerable consumers who depend on cash transactions and face-to-face banking services. Bira CEO Andrew Goodacre stated, "We are saddened by this wave of closures. Banks play a crucial role in supporting local businesses and maintaining the vibrancy of our high streets. Their presence is essential for both retailers and consumers who rely on cash transactions and face-to-face banking services."
The association is actively campaigning to preserve bank branches, advocating for the establishment of banking hubs in every town and city as a minimum requirement.
To see which branches are closing near you, explore our interactive map. For those seeking cash access points, LINK's online cash locator provides details on ATMs, Post Offices, banking hubs, and remaining bank branches.
The closures are a stark reminder of the evolving banking landscape and the challenges facing those who rely on traditional banking services. As the digital revolution continues, the future of bank branches remains uncertain, leaving many communities grappling with the potential loss of essential banking services.
