Lloyds Bank Announces Closure Of 60 More Branches
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Lloyds Banking Group has announced 60 additional branch closures for the rest of the year and 2025.
The new branches included in the list comprise 17 Halifax, 28 Lloyds Bank, and 15 Bank of Scotland locations and will occur from October this year to June next year.
Local Options For Accessing Cash Will Be Available For Every Branch Closure
Lloyds Group notes that utilization of the 60 branches earmarked for closure has declined by an average of 52% in the past five years. More customers have chosen to manage their finances online or through apps.
A Lloyds Group spokesman said mobile banking is widely used by many people, with more than 19 million clients opting to use the company’s application to manage their finances. Besides the app, clients can bank online, at the Post Office, at a Banking Hub, or by interacting with a Community Banker.
Each branch site announced for closure will provide nearby alternatives for accessing cash, like a free ATM or a Post Office. Additionally, 28 more Community Bankers will be added to offer focused banking assistance in areas where branches are shutting down.
Lloyds is not the only financial institution to have revealed closures this year. NatWest Group has outlined plans to sell off 98 branches, TSB is shutting 36 branches with 250 job losses, and Barclays will be closing 90 of its high street outlets.
Lloyds Banking Group Has Extended Its Partnership With Visa
Last week, Lloyds Banking Group extended its long-term collaboration with Visa. The banking group appointed the payment network as the primary provider for Lloyds Bank, Bank of Scotland, Halifax, and MBNA brands in the United Kingdom.
Through this collaboration, the two entities aim to offer new services and products to the brands, particularly addressing clients’ financial and everyday needs. The firms also want to expand the utilization of Visa’s fraud detection systems,” according to an official statement.
Lloyds announced that Visa, its partner for the last 40 years, will continue to supply debit cards to all Lloyds Banking Group’s clients and businesses. This includes more than 30 million Visa cards already issued and most of the consumer and business credit cards—the firm plans to transfer about 10 million additional cards to Visa by the close of 2026.
Visa had unveiled its ambition to “modernize the card” the previous month as part of its ongoing £8 billion technology investment. The company announced a range of new product releases, including the launch of Visa Data Tokens and a Payment Passkey Service.
