Lloyds, Halifax and Bank of Scotland to share branches

Lloyds, Halifax, and Bank of Scotland customers volition beryllium capable to usage services successful immoderate subdivision of the 3 brands arsenic portion of the group's latest web shake-up.

Lloyds Banking Group, which owns each 3 banking brands and is the UK's biggest moneylender, said the determination would springiness customers much prime and flexibility.

It has not confirmed a day for erstwhile the changes volition travel into effect, but concerns person been raised by immoderate that the determination could pave the mode for much subdivision closures successful the future.

A raft of High Street slope branches person been closed successful caller years, arsenic much radical person shifted to accessing banking services online.

Lloyds has closed dozens of branches unsocial and chopped hundreds of unit arsenic portion of a large overhaul of its concern which began successful February 2022.

The banking radical said its latest determination would alteration Lloyds, Halifax, and Bank of Scotland customers the enactment to usage branches of immoderate marque for in-person banking, arsenic good arsenic "apps, mobile messaging, and telephone services".

"As with galore industries, astir of our customers are moving to mobile and online banking due to the fact that it is faster, easier, and much convenient," a connection added.

The changes could mean immoderate radical whitethorn beryllium capable to much easy entree a subdivision nearer to wherever they live, but immoderate 55 Lloyds Banking Group branches are inactive acceptable to unopen crossed the UK this year.

Once each closures that person been announced successful caller times person been completed, the radical volition person 892 branches, of which 447 volition beryllium Lloyds, 341 Halifax, and 104 Bank of Scotland.

Bank subdivision closures successful wide person been much apt to hap successful disadvantaged areas.

Lloyds said telephone centre unit for the banking radical presently assistance customers of each brands who interaction for support.

In effect to the decision, the BTU, which represents the interests of Lloyds employees, warned much banks could unopen arsenic a effect of the changes.

"The co-serving of customers is not astir engagement oregon choice, it's astir making it easier for Lloyds to adjacent much branches and prevention much money," it said.

Campaigners person argued that immoderate shops and different retailers could halt accepting currency if it becomes excessively tricky for businesses to process.

Recent figures revealed that currency usage successful the shops rose for a 2nd twelvemonth successful a enactment successful 2023 aft a decennary of falls, according to retailers.

Notes and coins were utilized successful a 5th of transactions, the British Retail Consortium (BRC) said, arsenic shoppers recovered currency helped them to fund better.

It is understood that BTU is not recognised arsenic an authoritative national truthful is not engaged oregon consulted by Lloyds Banking Group.