Bank branch closures alert: Calls for 'immediate action' as 44 banks shut in August - full list
Bank branch closures require "immediate action" from the Government, according to a leading trade association
GETTY/PA
The Government is being called to take "immediate action" to address the current rate of bank branch closures sweeping local communities and hurting the economy.
For August 2024, a total of 44 physical banking locations are shutting down in response to changing consumer habits and a push for digital services.
Among the high street banks closing down branches include Lloyds Bank, NatWest, the Bank of Scotland and Barclays.
Experts are sounding the alarm that many vulnerable groups of people, including pensioners, will be detrimentally impacted if closures continue at their current trajectory.
Many towns across the UK are at risk of losing their branches all together with three million people facing losing sufficient access to cash.
Despite the rollout of banking hubs, experts question whether enough is being down to assist these communities.
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Andrew Goodacre, CEO of BIRA
BIRA
The British Independent Retailers Association (BIRA) is among the trade bodies urging the new Labour Government to focus on addressing the crisis.
According to the trade association, the recent wave of closures are primarily hurting small businesses.
As part of its recent campaign, BIRA is reminding policymakers how vulnerable consumers are more in need of cash services.
The group's boss is actively campaigning for the preservation of bank branches or the establishment of banking hubs in every town and city affected by closures.
Andrew Goodacre, the CEO of BIRA, broke down what it at stake for the UK economy if closures continue at their current rate.
He explained: "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.
"We call on the new Government and banking sector to take immediate action to ensure the long-term viability of cash access and in-person banking services across the UK."
According to consumer champion Which?, more than 6,000 branches have been shut down since 2015 amid the move to digital banking.
This comes to around 53 site closures every month in a blow to Britain's high streets.
LATEST DEVELOPMENTS:
Bank branch closures are continuing at an 'alarming rate', according to Which?GETTY Here is a full list of the branch closures taking place throughout August 2024:
Lloyds Bank
- Exeter, England - August 5, 2024
- Commercial Road, London - August 6, 2024
- Clitheroe, England - August 7, 2024
- Ilminster, England - August 14, 2024
- Malpas, England - August 20, 2024.
Halifax
- Abergavenny, England - August 5, 2024
- Exmouth, England - August 7, 2024
- Haverfordwest, Wales - August 8, 2024
- Sudbury, England - August 12, 2024
- Hessle, England - August 15, 2024
- Loughton, England - August 19, 2024
- Midsomer Norton, England - August 21, 2024
- Redhill, England - August 22, 2024
- Sudbury, England - August 12, 2024.
Barclays
- Rhyl, Wales - August 9, 2024
- Keighley, England - August 9, 2024
- Acton, England - August 9, 2024
- Northampton, England - August 9, 2024
- Lesmahagow, Scotland - August 12, 2024.
Bank of Scotland
- Buckie, Scotland - August 1, 2024
- Lesmahagow, Scotland - August 12, 2024
- Lanark, Scotland - August 13, 2024.
NatWest
- Chadwell Heath, England - August 1, 2024
- Muswell Hill, England - August 6, 2024
- Streatham, England - August 6, 2024
- Hackney, England - August 7, 2024
- Paddington, England - August 8, 2024
- Islington, England - August 8, 2024
- Ramsgate, England - August 8, 2024
- Shepherd’s Bush, England - August 13, 2024
- Gravesend, England - August 14, 2024
- Marylebone, England - August 15, 2024
- East Grinstead, England - August 20, 2024
- Eltham, England - August 20, 2024
- Lewisham, England - August 21, 2024
- Woking, England - August 21, 2024
- West Wickham, England - August 22, 2024
- Worcester Park, England - August 22, 2024
- City of London, England - August 27, 2024
- Andover, England - August 28, 2024
- Stalybridge, England - August 29, 2024
- West Kirby, England - August 29, 2024
- Marylebone, England - August 29, 2024
- Hendon, England - August 28, 2024.
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