In just three years, nearly 2,000 banks have vanished from the UK. Discover how this trend is impacting communities and what alternatives are being offered.
Greater Manchester: It’s been a tough few years for banks. In just three years, 36 high street banks have closed in our area. Big names like Halifax and Natwest are gone.
Since February 2022, the closures have sped up. One bank has even shut down in 2025 already! Overall, nearly 2,000 banks have closed across the UK.
More than 200 banks are set to close this year alone. That’s a staggering 1,822 branches that have shut or announced plans to close since early 2022.
On average, we’re losing about 46 branches each month. The LINK initiative was created to help assess the impact of these closures. It aims to protect vulnerable customers and small businesses.
When a local bank closes, they try to set up banking hubs or free ATMs to help. But it’s a big change, and many people are feeling the effects.
In England, 1,470 branches have closed, with Scotland, Wales, and Northern Ireland also affected. Manchester has seen the most closures, with nine branches gone.
Age UK warns that this trend is leaving many elderly people without essential banking services. They say it’s tough for older folks to manage their money without face-to-face help.
Caroline Abrahams from Age UK highlights that many older people aren’t banking online. This puts them at risk of being left out as branches disappear.
They’re calling for more shared banking hubs to help those who can’t bank online. It’s crucial to have these services, especially in areas that need them most.
LINK’s Adrian Roberts emphasizes that while digital banking is on the rise, many still rely on cash. Access to cash must remain available, even as branches close.
Cat Farrow from Cash Access UK shares that they’re working on opening more banking hubs. They recently opened their 100th hub in Darwen, and the response has been great.
These hubs allow customers from all banks to access basic services in one spot. It’s a step in the right direction for those affected by the closures.
