Lloyds Banking Group to shut 56 branches

YourMoney.com reported that Lloyds Banking Group has confirmed it will close 56 branches across the country between April and October, including 31 Lloyds, 10 Halifax and 15 Bank of Scotland branches in response to reduced customer demand for in-branch services

Customers are still able to use the Post Office to access banking locally, alongside mobile branches which visit many rural communities.

Responding to the bank closures, the Mail on Sunday reports that a regional building society Newcastle is bucking the trend by opening “rather than closing “branches in some of the country’s most remote rural communities.

The mutual, whose 29-strong branch network is confined to the North East, will officially open the new style community branches later this week in isolated regions of Wooler, Northumberland, and Hawes in Upper Wensleydale, North Yorkshire.

Unlike traditional branches, the new Newcastle outlets will not be standalone, but based in the towns community centres. But they will allow customers to make savings deposits and withdrawals as well as obtain financial advice on everything from pensions to investments and inheritance tax planning.

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YourMoney.com - Lloyds Banking Group to shut 56 branches: here’s the full list