Lloyds Bank to close 27 branches in May 2025 – | U.Ok.Finance News
Lloyds Bank is set to close 27 branches in May in response to prospects making fewer in-person visits. The shuttered branches will be part of the banking giant’s bigger listing of a minimum of 48 areas to close in 2025.This transfer types half of a broader pattern, with 1000’s of branches closing in current years. According to shopper group Which?, more than 6,300 bank and building society branches have closed since January 2015, equating to 53 closures on average each month. An announcement on Lloyds Bank’s web site reads: “Most customers are now using our Mobile Banking app, Internet Banking or calling us instead. This means they are using branches less.”Hundreds of new ‘Banking Hubs’ have opened to help fill the hole left by high avenue bank closures, offering prospects entry to money and on a regular basis banking providers, regardless of who they bank with. People can discover their closest location right here.Charities are calling for stronger safety for in-person banking providers, warning that the shift to digital dangers leaving older and weak people behind. Research by Age UK reveals that more than 4 million older Britons with bank accounts don’t handle their funds online.Caroline Abrahams, charity director at Age UK, mentioned: “We applaud the banks for coming together to set up shared Hubs, but it’s important that alternative services are set up speedily, especially in those areas with the greatest need.“Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks. The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.”
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