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business18h ago
Lloyds Bank axes popular branch service for customers
- Lloyds Banking Group will stop opening joint, student, or premium Club accounts in branches as part of its push to digital banking.
- Customers will be steered toward the bank’s app or website, with staff assisting the digital process rather than handling it directly.
- Lloyds plans to close more branches, adding to closures over the last decade as part of the digital shift.
- The bank says 97% of customer interactions are now digital, with further tech hires in recent years.
- The changes are expected to begin next month and be completed by May, with no redundancies reported.
- The shift toward digital banking is framed within broader discussions about the decline of branch banking in the UK.
- Lloyds serves about 28 million customers, with almost five million not using its digital services.
- Vulnerable customers will be told to access affected services by phone or online first, with staff discretion in some cases.
- Lloyds Group owns Halifax and Bank of Scotland, expanding its reach across UK high streets.
- Branch staff will still help with managing money or opening accounts for customers visiting branches.
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