Lloyd’s Banking Group has revealed its plans to shut 60 branches across the UK.
The group is to shut 24 Lloyd’s branches, 19 Bank of Scotland sites and 17 Halifax branches.
This latest announcement is just the latest in the transition from bricks-and-mortar to online banking.
HSBC announced earlier this year that they would close a further 69 branches in the UK, to add to the 82 they closed in January 2021.
Why are banks closing?
Many banks are choosing to close down multiple branches due a sharp increase in the amount of people favouring online over face-to-face banking.
The coronavirus pandemic gave people no option but to do their banking online, as many branches were closed for a period of time due to the UK lockdown.
This has seen a massive uptake in online banking, with an estimated 1.9 billion people worldwide doing their online banking, a figure that is expected to increase to 2.4 billion people by 2024.
It was reported that in January 2021, around 14 million Brits Were actively using online banking.
What has the union said about the closures?
Speaking to Sky News, Caren Evans, Unite national officer, said: "Lloyds Banking Group must not be allowed to abandon 60 more local communities where bank branches play an essential role.
"The 124 employees who work tirelessly in their communities are dedicated to serving the banking needs of the most vulnerable who depend on their skilled services.
"When a bank branch closes the heart of the local community is ripped out and the results are devastating.
"Unite is clear that simply leaving an ATM in place of a vibrant bank branch is wholly insufficient.
"The banking sector needs to answer some serious questions about its corporate social responsibilities and the government cannot stand back and allow the relentless closure of banks to continue until no more local banking services remain."
Have any banks in Birmingham been earmarked for closure?
Out of the 60 banks set to close this year, only three will close in Birmingham, and they are all branches of Lloyd’s..
They are: Birmingham Temple Road (September 15); Edgbaston (September 21) and Smethwick (August 11).
What is the full list of banks closing?
Bank of Scotland
- Aberdeen (201 Union Street), 14 September
- Alness, 27 July
- Brechin, 2 August
- Broxburn, 9 August
- Carluke, 27 June
- Clarkston, 4 July
- Dunblane, 7 July
- Dyce, 5 July
- Edinburgh (Barnton), 13 July
- Edinburgh (Shandwick), 13 July
- Forres, 11 July
- Glasgow (Riddrie), 9 August
- Innerleithen, 4 August
- Kirkcudbright, 3 August
- Lockerbie, 8 August
- Selkirk, 8 August
- Shotts, 15 August
- Stromness, 17 August
- Troon, 21 September
- Abingdon, 29 June
- Beaconsfield, 28 July
- Beccles, 5 July
- Belfast (Shaftesbury), 28 June
- Bideford, 6 July
- Devizes, 27 July
- Doncaster (Market Place), 19 September
- Dunstable, 11 July
- Finchley Central, 12 July
- Halifax (Commercial Street), 19 September
- Margate, 18 July
- Morriston, 18 July
- Penge, 10 August
- Totton, 19 July
- Wokingham, 20 July
- Worcester Park, 20 July
- Yeadon, 25 July
- Aylesbury (Gatehouse), 26 July
- Beaconsfield, 29 June
- Birmingham (Temple Row), 15 September
- Bolton (Westhoughton), 1 August
- Bradford (Thornbury), 11 August
- Buckingham, 20 September
- Chandlers Ford, 30 June
- Chipping Campden, 10 August
- Colchester (St Johns), 30 June
- Cottingham, 20 September
- Edgbaston, 21 September
- Knutsford, 6 July
- Liverpool (Woolton), 7 July
- Lyndhurst, 14 July
- Marlow, 13 July
- Swansea (Morriston), 4 August
- Oxford (Summertown), 21 July
- Poulton-le-Fylde, 3 August
- Rushden, 28 June
- Shanklin, 26 July
- Shrewsbury (Mount Pleasant), 28 July
- Smethwick, 11 August
- Swanwick, 21 July
- Tiptree, 25 July
The closures are set to start in June and the last branch will close in September.