Shared bank branches on the way for Lloyds, Halifax and Bank of Scotland

If you bank with Lloyds, Halifax or Bank of Scotland, you’ll be able to visit any branch to carry out your banking needs as part of a new shake-up.

Why the change?

All three brands are owned by Lloyds Banking Group, which says the move will give customers greater choice and flexibility.

It means if you bank with Halifax but your nearest Lloyds branch is closer, you’ll be able to pop there instead.

Will this mean more closures?

Some folks are – understandably – a bit concerned.

Could this be a sneaky way to pave the way for even more branch closures?

Or will shops stop accepting cash if banks make handling cash more difficult?

These are valid worries, especially as thousands of high street branches closed their doors in the last decade and cash use is on the up.

How many banks have closed?

This year alone will see more than 100 Lloyds, Halifax and Bank of Scotland branches shut.

After the closures, there will be 892 branches left:

• 447 Lloyds
• 341 Halifax
• 104 Bank of Scotland

What to do if your local bank closes

Banks have to weigh up any closures against existing cash services and plug any gaps.

Banking hubs are the most common alternative, although they aren’t a ‘like-for-like' replacement for traditional banks – read more about them in our guide.

Post Offices also let you carry out some banking services, such as withdrawing or depositing cash or paying in cheques.