There is no indication that the UK’s bank branch closure trend would abate, as Barclays has announced further cuts for January 2025. The move highlights the banking giant’s shift to online and mobile banking solutions, as it aims to close 99 branches by 2024<\/strong> and 2025 after closing 177 branches<\/strong> in 2023<\/strong>.<\/p>\n\n\n\n
Even though a lot of consumers have adopted digital banking, issues with accessibility for vulnerable populations, such as the elderly<\/strong> and those living in rural regions<\/strong>, still exist. Commentators and advocacy organisations are urging greater action to help individuals affected by this change.<\/p>\n\n\n\n
Details about the six branches that Barclays<\/a> plans to close in January 2025 have been made public. These include :<\/p>\n\n\n\n
By the middle to end of January<\/strong>, each will close, giving local clients few options for in-person banking.<\/p>\n\n\n\n
Sam Richardson,<\/strong> deputy editor at Which?, highlighted the potential fallout from these closures. “While some may hardly notice the closure of their local branch as they seamlessly switch to online banking, for others reliant on face-to-face services, the impact can be disastrous.” The closures are a part of a broader trend in the business, as other big banks including NatWest, HSBC, and Lloyds are all decreasing their physical presence on high streets.<\/p>\n\n\n\n
Efforts are underway to mitigate the impact of these closures. The UK government<\/a> has pledged to accelerate the rollout of shared banking hubs<\/strong>, providing a lifeline for communities where bank branches have become scarce. Yet critics argue progress has been slow, leaving gaps in service for thousands of customers.<\/p>\n\n\n\n
The closures reflect a broader move towards modernisation <\/strong>within the banking industry. Barclays, like many of its competitors, cites declining footfall at branches and a growing preference for digital banking as key drivers <\/a>of its strategy. Mobile apps, online platforms, and telephone services now handle the majority of routine transactions.<\/p>\n\n\n\n