We are officially in the final stretch of the year, and while some of us may be fed up with embracing change, even now, it is not ready to let us go. November begins with mass bank closures, as branches from five major companies shut down for good. The news will be a significant setback for millions of customers and businesses, especially considering these closures are happening in one of the busiest times of the year. What will the future hold for traditional banking and cash following the mass bank closures?
November begins with mass bank closures
The mass bank closures in 2025 have become a tough pill to swallow, especially for the most vulnerable groups in society. And the closures refuse to cease, as this November begins with even more closures. According to the House of Commons Library, there has been a significant shift in the banking needs of customers. As a result, the preference for cash and in-person banking services is declining.
“A reduction in cash and banking service availability falls hardest on some of the more vulnerable groups in society including the elderly, digitally excluded people and those with low incomes.” – House of Commons Library report
Another significant contributor is that ATM operators earn significantly lower amounts when the ATMs are utilised. This is leading to digital platforms, such as online banking and banking apps, becoming the new norm. Now, UK high streets and customers will face yet another setback as 24 additional bank branches shut down for good in November. Branches from five major companies are expected to disappear for good.
These branches from five major companies will shut down for good
A wave of 39 branch closures has struck the UK this past September, and another mass bank closure is planned for Barclays, Bank of Scotland, Halifax, NatWest, and Santander. These closures will disrupt in-person banking services for millions of customers across the UK. Reports from Which? have indicated that a mind-boggling 6,443 branches of banks and building societies have closed over the past decade.
The following branches will be closing in November:
- Barclays
- Northampton Wellingborough Road
- Bank of Scotland
- Moffat
- Thornhill
- Halifax
- Hexam
- Wickford
- NatWest
- Garstang
- Santander
- Surrey Quays
The following Lloyds Bank branches will also be shutting down in November:
- Biggleswade
- Blandford
- Bristol Bishopsworth
- Chard
- Coventry Foleshill
- Dunstable
- East Grinstead
- Feltham
- Ferndown
- Hexham
- Loughton
- Manchester Newton Health
- Plymstock
- Pontardawe
- Sheffield Woodhouse
- Shipston-on-Stour
Is this the end of traditional banking and cash?
With nearly 64% of branches gone for good, one cannot help but be concerned for the future of traditional banking and cash. Could it be the end? Well, it’s not over until the fat lady sings. While there has been a demographic shift in customers’ banking needs, there is still hope for those who prefer to work with cash and in-person customer service.
Basic banking services are being offered at one of the 11,684 Post Office branches, excluding services such as opening new bank accounts or taking out mortgages and personal loans. Several banking firms also feature branches with mobile banking services, including bill payments, cash deposits, and withdrawals. These mobile branches usually visit designated regions up to five days per week.
Some believe that the rate at which branches are closing is finally slowing down. In 2023, the annual closure rate reached a peak of 633. The annual closures significantly decreased to 399 in 2024, and the rate is predicted to end at 364 by the end of 2025. While these closures are unfortunate, it is pushing us into a new era of digital banking platforms. Lloyds Bank has already pushed the limit by becoming the first bank to offer a first-of-its-kind barcode cash deposit feature on its banking app.
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