Lloyds bank is set to close five branches this week as part of a series of closures impacting high streets in the UK.

The major bank is shutting down 71 branches nationwide, aligning with a broader trend of retreat from the high streets in the country. According to consumer group Which?, a total of 218 bank branches across Lloyds, Halifax, and Bank of Scotland are expected to close by 2025, partly due to the increasing shift of customers to online banking.

Banks attribute the closures to evolving customer behaviors, as millions are now opting for online banking over in-person visits to branches.

A representative from Lloyds Banking Group highlighted that more than 21 million customers now rely on mobile and online banking, indicating a declining usage of physical branches.

While the closures are ongoing, customers can still access services at Lloyds, Halifax, or Bank of Scotland branches, as well as Post Offices and shared banking hubs. Additionally, cash deposits can be made at over 30,000 PayPoint locations nationwide.

Other major banks like Santander, Barclays, and NatWest are also reducing branch networks, raising concerns that traditional in-person banking may diminish in some areas.

To address this shift, banks are introducing shared banking hubs where customers can conduct transactions and seek advice from various banks. As of August 19, 2025, 178 hubs have been established across the country with more in the pipeline.

Basic banking services are also available at more than 11,500 Post Offices, although advocates argue that this is not a complete substitute for fully-staffed branches.

Consumer groups caution that the closures could disproportionately affect elderly, disabled, and digitally excluded individuals, especially in rural regions with limited alternatives.

The Cash Access UK scheme, backed by the government, acknowledges that millions of people still rely on cash for daily financial needs and budgeting, raising concerns about the rapid progression towards a cashless society in the UK.

The recent closures commenced on January 19 in Lewes, followed by Swadlincote on January 20, and branches in Hedge End, Penzance, and Petersfield are scheduled to close on January 21.