The rapid shrinking in the number of physical banks across the UK comes as more and more customers choose to almost exclusively use online banking
Meanwhile Lloyds Banking Group will shut the doors on 21 Lloyds Bank sites, along with 15 Halifax high street branches and 17 Bank of Scotland buildings between September and May 2024.The closures will take place across England, Wales, Scotland and Northern Ireland.
. However concerns have been raised that shutting swathes of high street branches could cause problems for older and vulnerable people who do not have easy access to the internet. Age UK warned in a report last month that the rise of digital banking, cashless transactions and the closure of branches carried the risk of some people being"cut adrift from society".
A poll of over 65s, commissioned by the charity, found that 27% manage their accounts via a branch or other physical location, such as a Post Office, rather than online.Read more from Sky News:
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