Over 6,000 bank branches closed since 2015 and counting

The number of UK bank branches to shut their doors in the past nine years has passed 6,000 according to Which? research – severely affecting public access to cash and the millions of people who rely on cash services.

Today, Friday 17 May, will see the closure of eight Barclays bank branches. This will take the total number of branch closures in the UK since the start of 2015 to 6,005. The figure equates to more than 60% of the UK’s banking network, at a rate of around 53 closures every month.

Here, Which? explains why so many outlets have closed, which banks have shut the most branches, and what’s being done to protect access to cash.

How many bank branches have closed since 2015?

Over the past few years, bank and building society branches have been disappearing from our high streets at a frightening pace.

Which? has been tracking bank branch closures from major account providers in the UK since 2015.

Barclays is the individual bank that has reduced its network the most, with the total number of closures now at 1,216.

NatWest Group, which comprises NatWest, Royal Bank of Scotland and Ulster Bank, has closed 1,360 outlets – the most of any banking group. Lloyds Banking Group, made up of Lloyds Bank, Halifax and Bank of Scotland, has shut 1,146 sites.

While the rate of closures had initially appeared to slow down since it reached its peak in 2017, in recent years there has been a troubling surge. Banks seem to be engaging in a race to close branches after the government announced plans in 2020 for laws to protect access to cash, which would potentially make it more difficult to close a branch if alternative cash provision was lacking.

So far there have been 387 closures scheduled across 2024: 90 from Barclays, 76 from Lloyds, 68 from NatWest, 65 from Halifax, 28 from TSB, 26 from Bank of Scotland, 20 RBS branches, 10 Ulster Bank branches and four Danske branches.

Already there are 24 closures pencilled in for 2025: eight from TSB, six from Barclays, five from Lloyds and five from Halifax.

By the end of this year, 33 parliamentary constituencies with a combined population of more than three million will be without a single bank branch.

You can use our bank branch closure checker to see which branches are closing in your local area.

Branch closures since 2015

Why are so many branches closing?

Banks often point to reduced branch visits and increased use of online and mobile banking when justifying branch closures.

However, there are still plenty of people and small businesses that rely on local banks, who either don't want to or cannot engage with the digital revolution. This is particularly challenging in rural areas, where people suffer with poor broadband and mobile coverage, and there are higher populations of elderly customers.

According to UK Finance, a trade association for the UK banking and financial services sector, cash still remains the second most frequently used payment method in the UK. In fact, the total number of cash payments made during 2022 increased to 6.4bn payments, up from 6bn payments in 2021.

Nationwide – who have pledged not to leave any town where they have a presence until at least 2028 – found that even young people are left frustrated when bank branches close. Research from the building society found that half of people aged 16 to 24 have been left frustrated after finding their local branch closed when they needed it. Overall, 73% of UK adults are concerned about the rate of closures.

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What's being done to protect access to cash?

Banks and building societies will have to plug gaps in local cash provision under new rules proposed by the Financial Conduct Authority (FCA).

Legislation that came into force in June 2023 gave the watchdog new powers to ensure people could conveniently withdraw and deposit cash following the rapid rate of bank and ATM closures. 

As part of this, the Treasury has set minimum distances for free cash access provision – those that live in rural areas must be no more than three miles from a cash access point, and for those in urban areas it must be no more than one mile.

These rules will be monitored and enforced by the FCA. With its new powers, the FCA could fine banks and building societies if a service is closed before a replacement is set up.

Reviews by Link to commission new cash services

In December 2021, 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, the UK's largest cash machine network.

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.

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 2022.

Community banking hubs

Under pressure from campaigners and the government, several major high street banks agreed to fund shared banking hubs on a voluntary basis.

These hubs provide counter services and are run by Post Office staff. Most major banks have signed up, and their customers can carry out basic services such as deposits, withdrawals and paying bills.

They also include private spaces where customers can speak to someone from their own bank for advice and support about more complex issues. The aim is to have representatives from different banks available on different days of the week.

Unfortunately the rollout of these hubs has been relatively slow so far, with just 50 of the 150 recommended hubs currently operational.

Sam Richardson, deputy editor of Which? Money, said: ‘This milestone of more than 6,000 bank branch closures in just nine years underscores the seismic shift that has taken place in terms of our banking habits and the character of the British high street.

‘While some may hardly notice the closure of their local branch as they seamlessly switch to online banking, for others reliant on face-to-face services, the impact can be disastrous. 

‘It's not about halting closures altogether, but ensuring that essential banking services remain accessible to those who still rely on them. It is crucial that the government prioritises opening more hubs quickly, so that people aren’t left behind.’