Santander UK has revealed plans to close nearly a quarter of its high street branches, with up to 750 jobs potentially affected. This move, in line with the bank’s continued transition towards online banking, follows a sharp decline in physical branch usage.
According to Sky News, the decision is part of broader efforts to adapt to changing customer preferences and the increasing reliance on digital banking services. Further details on the closures and timeline are expected in the coming months.
Branch Closures and the Shift to Online Banking
The decision to close branches is primarily driven by a sharp drop in in-branch transactions, which have fallen by 61% since 2019. As more customers turn to online banking to open accounts, conduct financial transactions, and manage their finances, the need for physical branches has diminished.
To streamline its operations and focus on digital services, Santander will close 96 of its branches across the UK. The exact dates for these closures are still to be confirmed, but they are expected to occur by the end of the year.
The Following Branches Are to Close Before the End of the Year :
- Aberdare
- Arbroath
- Armagh
- Blackwood
- Blyth
- Bognor Regis
- Borehamwood
- Brecon
- Brixton
- Caernarfon
- Camborne
- Canvey Island
- Clacton
- Cleveleys
- Colne
- Colwyn Bay
- Crowborough
- Croydon
- Cumbernauld
- Didsbury
- Downpatrick
- Dungannon
- Edgware Road
- Eltham
- Exmouth
- Falmouth
- Farnham
- Felixstowe
- Finchley
- Fleet
- Formby
- Gateshead
- Glasgow St Vincents Street
- Glasgow The Avenue
- Greenford
- Hackney
- Hawick
- Herne Bay
- Hertford
- Holloway
- Holywell
- Honiton
- Kidderminster
- Kilburn
- Kirkby
- Launceston
- Louth
- Magherafelt
- Malvern
- Market Harborough
- Musselburgh
- New Milton
- Peterhead
- Plympton
- Portadown
- Pudsey
- Rawtenstall
- Ross-On-Wye
- Ruislip
- Rustington
- Saltcoats
- Seaford
- Shaftesbury
- Sidcup
- St Austell
- St Neots
- Stokesley
- Strabane
- Surrey Quays
- Swadlincote
- Tenterden
- Torquay
- Tottenham
- Whitley Bay
- Willerby
- Wimborne
- Wishaw
Branches with no closure dates confirmed :
- Bexhill
- Billericay
- Dover
- Droitwich
- Dunstable
- East Grinstead
- Holyhead
- Ilkley
- Larne
- Lytham St Annes
- Maldon
- Morley
- North Walsham
- Redcar
- Saffron Walden
- Turriff
- Uckfield
- Urmston
Impact on Santander’s Workforce
The closures will result in up to 750 job losses, with the bank working through consultations with unions. A spokesperson for the bank stated,
Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers.
While the bank has expressed its regret over the job losses, it emphasises the changing landscape of banking and the need to adapt to customer preferences.
Despite the closures, Santander assures its customers that 93% of the UK population will still be within 10 miles of a Santander branch.
Furthermore, the bank has highlighted that customers can access banking services at 11,000 Post Office branches and 112 banking hubs across the country.
Additionally, all the branches marked for closure are located within one mile of the nearest Post Office, ensuring that banking services remain easily accessible.
Access to Banking Services Post-closure
Santander has reassured its customers that they will still have access to banking services even after the branch closures. The bank pointed out that 11,000 Post Office branches and 112 banking hubs across the country remain available for use.
Additionally, all the branches marked for closure are located within one mile of the nearest Post Office, ensuring that banking services remain accessible.
