Lloyds Bank and Halifax to close 59 branches in 2023

Lloyds Banking Group has announced it will close 59 bank branches in 2023 - on top of the 186 sites it closed last year. 

The group announced a further 40 closures on 20 January, in addition to the 19 announced towards the end of last year. The new closures include 18 Halifax sites and 22 Lloyds Bank branches. 

Lloyds Banking Group, which includes Halifax, Lloyds and Bank of Scotland, closed the most branches of all the high street banks in 2022, followed by Barclays with 184 sites. 

Here, Which? reveals the full list of branches that closed in 2022 and are due to shut in 2023. 

Which Lloyds Banking Group branches are closing?

Here are the locations of the 59 branches that will close in 2023. There are 23 Halifax branches and 36 Lloyds Bank sites. You can use the search bar to see whether your local branch is affected.

The table below shows the branch closures in 2022. 

Why are more branches closing?

Lloyds Banking Group says that as it has 19m online banking customers and over 15m mobile app users, it needs to make sure 'its branches are in the right place, where they are being used regularly'. 

It said branch closures were a result of a significant reduction in branch visits over several years. 

Russell Galley from Lloyds Banking Group told us: 'Our customers have more choice than ever in how they bank with us. As our customers do more online, visits to some branches have fallen by as much as 85% over the last five years. 

'Alongside our digital, online and telephone services, we'll continue to invest in our branches, but they need to be in the right places, where they're well-used.'

Which other banks are closing in 2023?

Lloyds Banking Group isn't the only organisation closing branches this year. Almost all major high street banks have sites earmarked for closure, and more could follow. 

HSBC is due to close 114 sites this year, and NatWest is due to close 43 branches. Barclays will close 26 sites, Santander will shut five sites, and Nationwide has one bank scheduled to close. 

To find out whether your local bank branch is closing, or has recently closed, our bank branch closure checker tool shows the branches shutting down in your local authority area.

Which banks closed the most branches in 2022?

Lloyds Banking Group announced the most branches last year, with 186 announced. 

This was closely followed by Barclays, with 184 branches:

• Barclays: 184
• Danske Bank: 4
• HSBC: 70
• Lloyds Group (includes Lloyds Bank, Halifax and Bank of Scotland): 186
• NatWest (including Royal Bank of Scotland sites): 83
• Nationwide: 22
• Metro Bank: 3
• Santander: 1
• TSB: 70

Find out more: is your local bank branch closing?

What's being done to protect access to cash?

Here are some of the cash solutions that have been announced or put in place since our campaign began:

Legislation in the Queen's Speech

First announced in the Queen’s Speech in May, the forthcoming legislation will ensure people can continue to conveniently withdraw and deposit cash. This will be monitored and enforced by the Financial Conduct Authority (FCA). 

However, the Scottish Affairs Committee of MPs has accused banks of 'rushing to close [branches] before legislation to protect access to cash and banking services can take effect'. 

With its new powers, the FCA could stop banks and building societies from closing cash access services if there was no suitable alternative within a reasonable distance.

Which? is pushing for there to be a requirement that access to cash is free.

• Find out more: access to cash to be protected by new law

Reviews by Link to commission new cash services

Last December, the Cash Action Group (CAG) announced that any community facing the closure of a core cash service, such as a bank branch or ATM, will trigger an independent review by Link.

Link will determine whether a new solution should be provided and will have the power to commission services, such as a shared banking hub or better Post Office services, to meet the cash needs of the community as a whole – not just the customers of one bank or building society.

Out of the 59 Lloyds Banking Group closures scheduled in 2023, two locations have been recommended for banking hubs; Welshpool in Wales and Looe in England. Two locations have also been selected to be cash action group pilot locations - Wallingford in England and Holyhead in Wales. 

An additional ATM has been recommended for Bishop's Waltham in England, and cash deposit solutions have been recommended in Littlehampton, Borehamwood, Whistable and Dagenham. 

• Find out more: six things you need to know about the new bill to protect cash access and scam victims

Post Office services

Since January 2020, customers of certain banks have been able to use Post Office branches to withdraw and deposit cash in their accounts and make balance queries. Most banks will also allow you to deposit cheques. 

This service, described as a 'lifeline' by the Post Office, means that people can still access essential services, even if their local bank branch has shut. 

The service will run until December 2025, after a new agreement was signed with 30 banks in February.

source https://www.which.co.uk/news/article/lloyds-bank-and-halifax-to-close-59-branches-in-2023-aim9B9r5MCSq