Latest news with #branchclosures
The Sun
6 days ago
- Business
- The Sun
Huge banking giant to slash opening hours in HALF at 36 high street branches within days
A HUGE banking giant is about to cut opening hours in half at 36 branches within days. Santander is set to change the opening hours of dozens of its branches from June 30. This move comes as part of a broader restructuring, which also includes the closure of 95 branches and the conversion of 18 to "counter-free" service desks. Currently, most of these branches are open Monday to Friday from 9.30am to 3pm, with many also open Saturday mornings from 9.30am to 12.30pm. Going forward, these branches will be open only three days a week. Of the affected locations, 21 branches will adopt a Tuesday, Thursday, and Saturday timetable. These include branches in Bicester, Braintree, Durham, and Stevenage. This means that, from June 30, these branches will open just three days a week - instead of six. An additional 14 branches will adopt a Monday, Wednesday, and Friday timetable, opening from 9.30am to 3pm on these days. Branches affected by this change include Banbury, Great Yarmouth, Newark, and Washington. Meanwhile, the final branch on the list, located in Caerphilly, will see its hours cut further, from every week day to just Tuesdays and Thursdays, with opening hours from 9.30am to 3pm. Our map above reveals exactly which branches are reducing their hours and which days they'll be open from the end of June. Inside the hubs restoring high street banking and reversing the tide of mass branch closures The bank says the changes are due to changing customer behaviour and a significant increase in digital transactions. A spokesperson for Santander UK, said: "As customer behaviour changes, we are ensuring that our branches remain fit for the future. "Our new combination of full-service branches, alongside Work Cafés, counter-free branches and reduced hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance. "As a business, we must move with customers and balance our investment across all the places where we interact with customers, to deliver the very best for them now and in the future." The bank, which serves over 14million UK customers, announced in March that it plans to close 95 branches across the UK. Following the shake-up, just 349 branches will remain on the high street. What you can do if your local bank is set to close There are still a number of ways people can access basic banking services without having to venture to another town with a branch. You can use one of the Post Office's 11,684 branches to perform basic banking tasks — but not to open new bank accounts or take personal loans and mortgages. You can find your nearest Post Office branch by visiting Meanwhile, many banks offer a mobile banking service - where they bring a bus to your area offering services you can usually get at a physical branch. Other banks use buildings such as village halls or libraries to offer mobile banking services. It's worth contacting your bank to see what mobile services they have available, and when they might next be in your area. New super ATMs are being rolled out across the UK where branch closures have left residents unable to access essential banking services. These ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash. Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank are already signed up to allow deposits, at the super ATMs. Banking hubs are also being opened across the UK with 250 set to be available by the end of 2025. These sites typically feature a counter service operated by the Post Office as standard, enabling customers to conduct routine banking transactions conveniently. Each hub also has a private area where customers can consult with staff representing their banks for more complex matters. What services do banking hubs offer? BANKING hubs offer a range of services to bridge the gap left by the closure of local branches. Operated by the Post Office, these hubs allow customers to perform routine transactions such as deposits, withdrawals, and balance enquiries. Each hub also features private booths where customers can discuss more complex banking matters with staff from their respective banks. Staff from different banks are available on a rotational basis, ensuring that customers have access to a wide range of banking services throughout the week. Additionally, customers can receive advice and support on various financial products and services, including loans, mortgages, and savings accounts.
The Sun
13-06-2025
- Business
- The Sun
Major high street bank to shut TEN stores next week and 37 more in July as millions of Brits told to close accounts
A MAJOR high street bank is set to shut ten UK branches next week, in a huge blow to the high street. Santander announced in March that 95 of its branches will be closing, due to more customers making the switch to online banking. 2 2 A total of 23 branches in June, including 10 next week and 13 the week after. In July, 37 more Santander sites will get the chop, with 35 more set to close by the end of the year. A statement on the Santander website reads: "We last did a major review of our branches in 2021. "Since then, many of our customers are choosing to use Mobile, Online and Telephone Banking more, and branches less." However, the closures have led to fears that older customers, who prefer to do their banking face to face, will be left behind. Age UK is campaigning for banks to keep some banking services in person, as four million older Brits are unable to manage their finances online. Caroline Abrahams, charity director at Age UK, said: 'Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks. "The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.' In order to combat this issue, 73 banking hub s have been set up across the UK, with customers from any bank able to use the in person service. In addition to the 95 closures, Santander will also be making changes to its surviving branches. This includes cutting opening hours in half, and making some businesses "counter free." The reduced hours will come into force on June 30, with 36 branches affected. Satander is also opening work cafes which provide free co-working spaces and banking facilities to anyone, regardless of whether they are Santander customers. And Santander isn't the only bank to close branches, with research from Which? revealing that 6,300 bank and building societies have closed since January 2015. This averages to 53 store closures per month. A total of 102 banks are set to close This includes major providers like Lloyds, Natwest and Halifax, in addition to Santander's closures. Meanwhile Nationwide has promised to keep its nearly 700 branches open until the start of 2028 as they claim more customers are visiting its stores. Muir Mathieson, Nationwide's chief financial officer, recently said: 'The branches are thriving. 'We're seeing the number of people going into branches going up, and we think part of that increase is that there are fewer branches on the high street now that our competitors have closed theirs.'
Fast Company
10-06-2025
- Business
- Fast Company
Flagstar Bank just closed dozens of branches in 5 states. See full the list of locations that shuttered in May
This year has not been kind to retailers in terms of store closures. But brick-and-mortar shops are not the only retail category that has experienced a decline in 2025. Banks are closing retail locations, too. One of America's largest regional banks, Flagstar, closed 24 branch locations on May 30. The closures come after the bank's parent company, Flagstar Financial, announced in January that it would be shuttering 60 branches this year. Here's what you need to know about the latest Flagstar branch closures. What's happened? On May 30, Flagstar shut 24 bank branches for good, according to the Office of the Comptroller of the Currency (OCC), which is an independent bureau of the U.S. Department of the Treasury. The OCC regulates national banks in the United States. In its weekly bulletin for the period from May 25 to May 30, 2025, the OCC says that 24 Flagstar Bank branches were closed. However, the closures did not come as a surprise, as the company announced in January that it would shutter 60 branches. As Banking Dive previously reported, Flagstar Financial announced it would close the locations in an effort to consolidate its retail footprint and cut $600 million in operating costs from its balance sheet by the end of the year. Running physical locations incurs significant operating costs, and as more people turn to online banking first and try to avoid visiting branches if possible, those branches are used less, leading to a reduced return on investment for banks. Which Flagstar Bank branches have closed? According to the OCC, 24 Flagstar Bank branches closed on May 30. The branch closures impact locations in five states: Indiana, Michigan, New Jersey, New York, and Ohio. New York saw the most Flagstar Bank branches close in this round, with nine locations shutting down. Michigan and New Jersey saw six locations each shutter. Indiana saw two close and Ohio one. Here are the locations of the closed branches in each state. Indiana 5770 COVENTRY LANE FORT WAYNE IN 2926 MISHAWAKA AVENUE SOUTH BEND IN Michigan 210 WEST HURON STREET ANN ARBOR MI 29049 JOY ROAD WESTLAND MI 914 CHARLEVOIX DRIVE GRAND LEDGE MI 4675 32ND AVENUE HUDSONVILLE MI 5151 CORPORATE DRIVE TROY MI 500 WOODWARD AVENUE, Detroit, MI New Jersey 949 BROADWAY BAYONNE NJ 142 BROAD STREET ELIZABETH NJ 36 FERRY STREET NEWARK NJ 198 JEFFERSON STREET NEWARK NJ 2624 MORRIS AVENUE UNION NJ 133 S. LIVINGSTON AVENUE LIVINGSTON NJ New York 30TH AVENUE, ASTORIA, NY 625 ATLANTIC AVENUE BROOKLYN NY 102 DUFFY AVENUE HICKSVILLE NY 1608 KINGS HIGHWAY HOMECREST (BKLYN) NY 66-77 FRESH POND ROAD RIDGEWOOD NY 65-30 KISSENA BLVD. FLUSHING NY 509 OLD COUNTRY ROAD PLAINVIEW NY 194-02 NORTHERN BOULEVARD FLUSHING NY 100 JERICHO QUADRANGLE JERICHO NY Ohio ONE NORTH HAWKINS AVE. AKRON OH Flagstar's stock price soars since closure announcement While many people prefer the ease and convenience of online banking, closures of physical bank branches can still have a negative impact on communities and certain groups of individuals. This is particularly true for older individuals who may not be as adept at using the internet or app-based banking, or who may simply prefer to visit a physical branch location to discuss their banking needs with a representative. Still, financial companies looking to cut costs often turn to branch closures as the quickest way to do so (that, and employee layoffs). And investors in those banks generally react favorably to those types of moves. Indeed, since Flagstar announced in January that it would close 60 branches, the company's stock price (NYSE: FLG) has soared. At the start of the year, FLG stock was trading in the $9 range. But by the end of January, after the company announced the branch closures, FLG stock jumped to nearly $12 per share. Year-to-date, FLG stock is currently up over 27% as of the time of this writing. On April 25, Flagstar Financial announced its Q1 2025 earnings, in which the company revealed that its operating expenses declined 22% year-over-year. The company says that as of March 31, Flagstar Bank held $97.6 billion in total assets, $73.9 billion in total deposits, and operated approximately 400 locations. Its online branch locator tool shows that as of today, there are 363 Flagstar Bank locations in the United States.
Daily Mail
07-06-2025
- Business
- Daily Mail
EXCLUSIVE One in four senior bank staff say closing branches 'isn't a concern'
More than a quarter of senior banking professionals say the closure of bank branches isn't a major concern for their business, figures seen by This is Money reveal. While as many as 27 per cent of senior bank staff said branch closures weren't a challenge to their business, the same cannot be said for the public. There is growing concern over access to bank branches, as more find themselves living in bank and cash machine deserts. Some 60 per cent of bank customers said closures have made it more difficult to speak to a member of staff, according to the data from credit information provider CRIF. A majority also said banks are now less focused on serving and looking after their customers than they were five years ago. A third said the increasing numbers of bank closures have made it more confusing to get what they need form their bank because they are now unable to speak to bank staff directly and instead often have to find information on their website. As many as 13million banking customers still rely on physical branches, recent figures from the Financial Conduct Authority reveal. Sara Costantini, regional director for the UK and Ireland at CRIF, said: 'Financial services have changed rapidly over the last decade, as people continue to embrace digital banking and manage multiple aspects of their finances online. 'The knock-on impact of this has been the reduction in physical, in-person banking services. 'While many working in the sector don't see this as a major challenge to their business, bank branch reductions are continuing to fuel concerns over the quality of customer services and what further closures may mean for the future.' How many bank branches are closing? According to data from Which?, some 379 bank closures have been earmarked for 2025, with a further 22 already planned for 2026. This is despite rules brought in last year that banks must prove to regulators that local communities will still have free cash access if they close their branch. Since 2015, there have been as many as 6,377 branch closures across the UK, meaning two thirds of all the branches open in 2015 have now closed. Bank closures are increasingly giving rise to the creation of banking deserts. Data from Nomis shows that in 2024 there are as many as 15 'grey zones' in the UK. North East Derbyshire, a district with more than 100,000 residents, has no bank branches whatsoever. In the CRIF survey, a fifth of consumers said they are concerned about the closure of more bank branches over the coming five years. Costantini said: 'The findings highlight the difficult tightrope that banks now need to walk, balancing the need to ensure their digital services remain cutting edge and up to scratch, which has become a competitive area for so many, without losing the personal touch that more traditional services offer.' Meanwhile, its not just bank branches that are shutting their doors. Between October 2019 and January 2024, there was 30 per cent reduction in the size of the UK's ATM network, likewise creating ATM dead zones and stifling Britons' access to cash. Some 23,000 ATM's are expected to be closed, leaving just 15,000 across the country, according to the UK's ATM network, Link.
The Sun
29-05-2025
- Business
- The Sun
All the 102 bank branches shutting this month including Lloyds, Santander, NatWest and Halifax
DOZENS more branches are closing in June in a blow to customers who rely on in-person banking. Some of the biggest banks including Lloyds, NatWest, Santander and Halifax are axing sites over the coming days and weeks. 1 NatWest said in January it would close down 53 branches across this year. Santander then announced in March it would be closing more than a fifth of its high street branches. Halifax and Lloyds are both owned by Lloyds Banking Group which has the largest branch network in Britain. The group has announced 254 branches closures taking place over the next year. Here are the branches being lost this month: Lloyds Alcester June 25 Ashbourne June 24 Dorchester June 19 Launceston June 3 Liverpool June 4 New Milton June 13 Pembroke Dock June 26 Sheffield June 26 Southampton June 9 Southsea June 2 Spennymoor June 26 Stanley June 26 Tonypandy June 30 Warwick June 24 Welwyn Garden City June 11 Woodbridge June 25 Halifax Bitterne – June 9 Bournemouth – June 4 Felixstowe - June 2 Fleetwood - June 25 Gainsborough - June 2 Kingsbury - June 2 Horsforth - June 3 Launceston - June 3 Letchworth - June 3 Leek - June 4 Littlehampton - June 23 London (North West) – June 2 Mold - June 5 Welwyn Garden City - June 11 St Annes On Sea - June 12 NatWest Accrington - June 5 Alfreton - June 2 Beverley - June 25 Bridlington - June 11 Ellesmere Port - June 4 Garstang - June 26 Keighley - June 16 Leeds, Cross Gates - June 10 Leek - June 16 Manchester - June 11 Mansfield - June 26 Mexborough - June 3 Nantwich - June 19 Newark-on-Trent - June 17 Nottingham, West Bridgford - June 24 St Annes On Sea - June 24 Stafford - June 25 Stockport, Hazel Grove - June 19 Stockport, Heaton Moor - June 3 Stockton-on-Tees - June 4 Stoke-on-Trent, Longton - June 5 Uttoxeter - June 2 Washington - June 17 Worksop - June 18 Inside the hubs restoring high street banking and reversing the tide of mass branch closures Santander Aberdare - 24 June Arbroath - 17 June Blackwood - 23 June Brecon - 25 June Clacton - 16 June Colne - 14 June Croydon - 16 June Dungannon - 23 June Eltham - 23 June Fleet - 30 June Gateshead Metro - 16 June Glasgow LDHQ - 24 June Glasgow MX - 23 June Greenford - 24 June Kidderminster - 18 June Kilburn - 17 June Launceston - 16 June Louth - 17 June Magherafelt - 24 June Musselburgh - 30 June Peterhead - 16 June Portadown - 30 June Swadlincote - 30 June The closures comes as Nationwide Building Society claims its branches are thriving. The provider recently said almost 200,000 more customers used its branches in the financial year to the end of March, compared with the prior year, data from the group revealed. The provider has promised to keep all of its nearly 700 branches open until at least the start of 2028. Nationwide said more customers are coming through the doors over the past year as rival banks slash their high street network. Muir Mathieson, Nationwide's chief financial officer, recently said: 'The branches are thriving. 'We're seeing the number of people going into branches going up, and we think part of that increase is that there are fewer branches on the high street now that our competitors have closed theirs.' Customers want face-to-face contact particularly if they have concerns about fraud, or if they want reassurance about a specific process or account, Mr Mathieson added. He also indicated that people feel more comfortable handling bigger sums of money in a branch. About 5.7 million customers visited a branch at least once during the year. Nationwide's branch promise extended to Virgin Money after buying the bank for £2.8 billion last year. Banks closing branches say they are adapting to meet changing behaviours of their customers, who increasingly want to do banking on their phones or online. What to do if your local bank is set to close There are still a number of ways people can access basic banking services without having to venture to another town with a branch. You can use one of the Post Office's 11,684 branches to perform basic banking tasks — but not to open new bank accounts or take personal loans and mortgages. You can find your nearest Post Office branch by visiting Many banks also offer a mobile banking service - where they bring a bus to your area offering services you can usually get at a physical branch. Other banks use buildings such as village halls or libraries to offer mobile banking services. It's worth contacting your bank to see what mobile services they have available, and when they might next be in your area. New super ATMs are being rolled out across the UK where branch closures have left residents unable to access essential banking services. These ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash. What services do banking hubs offer? BANKING hubs offer a range of services to bridge the gap left by the closure of local branches. Operated by the Post Office, these hubs allow customers to perform routine transactions such as deposits, withdrawals, and balance enquiries. Each hub features private booths where customers can discuss more complex banking matters with staff from their respective banks. Staff from different banks are available on a rotational basis, ensuring that customers have access to a wide range of banking services throughout the week. Additionally, customers can receive advice and support on various financial products and services, including loans, mortgages, and savings accounts.
