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Santander has announced plans to close 95 bank branches and will reduce the opening times in some locations – resulting in 750 jobs being cut.
The high street bank will turn 18 of its remaining branches into counter-free banks, while a further 36 will be reduced hours branches. Santander currently has 444 branches. The changes mean it will have 290 full-service branches and five work cafés – which are free co-working spaces – once the closures and changes to other branches have been implemented.
Customers who are impacted by the closures will be able to visit a Santander community banker, who visit local community venues and can provide account management support. Santander customers can also visit their nearest Post Office to pay in and withdraw cash, check their balance, and deposit cheques.
Santander said the closures are down to more people using online banking. The bank said it has seen a 63% increase in digital transactions since 2019, while financial transactions completed in branches reduced by 61% in the same period. Santander estimates 93% of the UK population will continue to be within 10 miles of a Santander branch.
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.
“Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers. However, we believe that the introduction of our new Community Bankers and the exciting plans we have for our remaining network of 349 branches and Work Cafés, alongside the rapid and innovative improvements to our award-winning mobile banking app, will provide the right balance of digital banking and human interaction when required.”
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