Since February 2022, the UK has witnessed a significant reduction in physical banking branches, with more than 2,200 closures announced nationwide, including 24 in Somerset alone. This equates to roughly 11 closure announcements weekly or 49 each month, underscoring a rapidly changing banking landscape.
Notably, November alone sees the closure of 24 branches, with 16 belonging to Lloyds Bank. By the end of 2025, projections suggest 536 banks will have closed, with further closures set for 2026 and beyond. Somerset’s recent closures include the NatWest branch in Bridgwater, shuttered in October, and the Lloyds Bank branch in Chard, which closed on November 11. Additional closures are planned for Yeovil’s Halifax branch in January 2026 and the TSB in Frome, though the latter lacks a confirmed date.
Beyond Somerset, neighboring areas have also seen significant branch reductions: Bristol with 12 closures, North Somerset with seven, and Bath and North East Somerset with six. To help local communities keep track, an interactive map details the closures in their vicinity.
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These closures followed a voluntary agreement under the LINK initiative, where major banks including Barclays, HSBC, NatWest, Lloyds, and Halifax committed to assessing the impact each closure might have on local communities. This initiative aims to safeguard vulnerable customers and small businesses from being disproportionately affected by the shift toward cashless and virtual banking.
In areas where bank closures create a void, alternative solutions such as banking hubs and free-to-use ATMs have been established to maintain access to essential services. A recent House of Commons Library report highlighted that these changes stem from evolving consumer preferences leaning towards online banking and digital payments, compounded by industry factors like diminished ATM operator revenue.
Chris Ashton, Chief Commercial Officer at LINK, emphasized their commitment: “Our role is to ensure ongoing access to cash through free ATMs, Post Offices, and increasingly through banking hubs. Since the inception of this scheme, we’ve recommended 246 new services to support communities, including enhancing existing Post Office services or introducing new hubs.”
Echoing this sentiment, Gareth Oakley, CEO of Cash Access UK, remarked, “Despite growing digital banking adoption, many people still rely on cash or basic banking services. We are actively expanding services, with almost 200 banking hubs and over 100 deposit points now operational. We open two new hubs weekly and aim to reach the 200th before Christmas.”
As banking continues to evolve, these measures strive to balance innovation with inclusivity, ensuring no community is left without vital financial services.