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This year 525 banks will shut: will yours disappear?

High street banks have announced hundreds of closures will take place this year as customers go digital - Alamy
High street banks have announced hundreds of closures will take place this year as customers go digital - Alamy

High-street banks have announced more than 461 branches will close this year as customers move to online and telephone banking.

Internet banking has become more common over the past three years and since 2015 there has been a flurry of new online-only providers including Charter Savings Bank and Atom Bank, which is only available on an app.

The need to visit branches is reducing further as technology develops – just this week customers were told they could clear a cheque in just 24 hours by taking a photo on their smartphone or iPad. 

Andrew Hagger, from Moneycomms, the personal finance site said: "As customers can do most banking without the need for a branch, it's no wonder the banks are closing.

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"The group of customers requiring face-to-face services is also getting smaller and the banks will know which of their sites are unprofitable. I can see the closures continuing." 

Below we outline the branch closures for 2017 that have been announced so far.

RBS and NatWest - 148

Royal Bank of Scotland and NatWest are the latest providers to announce closures.

The banking group said its decision to shut 30 RBS and 128 NatWest branches came after a "dramatic shift" in its customers' banking habits.

It found that since 2010 simple branch transactions have fallen 43pc and mobile transactions have increased by more than 400pc.

See below for a full list of branch closures:

Will your bank be closing? | Planned RBS and Natwest branch closures

HSBC - 117

After getting rid of 223 branches in 2016 HSBC is closing another 117 this year, including Shaftesbury Avenue and Wood Green in London.

Work has already started - 55 branches have been shut this year including in Swanage, Dorset; St Ives, Corwall; and two in Kingston upon Hull.

Lloyds/Halifax - 95

In November last year Lloyds announced it would be closing 87 branches in 2017. The first one to go this year was a branch in Blue House Lane, Tyne and Wear, on February 6.

So far 29 branches have closed. The remaining 58 will be shut between now and June. 

One Halifax branch has closed already in Peacehaven and there are further seven sites to go.

These 2017 closures are in addition to the 14 Lloyds branches and 23 Bank of Scotland sites that were shut in November and December 2016.

A Lloyds Bank sign - Credit: PA
There will be 87 less Lloyds branches by the end of the year Credit: PA

Clydesdale/Yorkshire Bank - 79

In January Clydesdale and Yorkshire Bank announced it would be shutting 79 branches.

Of the total 40 are from the Clydesdale Bank brand and are spread across Scotland, including in Aberdeen, Banff, Edinburgh and Glasgow.

Five sites, including two in Edinburgh, will be closed next month and the rest will begin to disappear this summer.

Rosyth will be the last branch to be closed on June 16.

The other 39 are Yorkshire Bank sites in the north of England and the Midlands, including branches in Leeds, Ripon, South Shields and Crewe. 

The closures will begin in April starting with the South Shields branch on the 19th.

TSB - 38

TSB announced in February that 29 of its "quiet" branches were to close as more of its customers moved online. This is on top of nine previously planned closures.

The new sites include Manchester, Sheffield, Southampton and three branches in Glasgow.

All will be shut in June this year, although Birmingham is yet to be confirmed.

A TSB branch - Credit: Alamy
TSB is closing 38 of its quiet branches in 2017 Credit: Alamy

Three branches have already been closed this year, including London sites in Highgate and Stoke Newington. Basildon, Essex has also closed.

Finchley Road in London and Wolseley Road, Plymouth, will close in April and the rest will close in May.

Yorkshire/Norwich & Peterbough Building Society - 48

According to Yorkshire Building Society 77pc of its 3.3m customers did not bank in branch last year - and some of its branches did just seven transactions in a week.

As a result, it is closing 20 Yorkshire Building Societies across the country on May 19.

These are: Abergele, Alnwick, Cleveleys, Coulsdon, Cowbridge, Dunoon, East Grinstead, Farsley, Lewisham, Llangefni, Mirfield, Monmouth, Newquay, Oban, Paisley, Prestatyn, Addington Road, Selsdon, Waterloo (near Huddersfield), Windermere and Wyke (near Bradford).

In addition, 28 Norwich and Peterborough sites will close. Dates have not been confirmed yet but are expected to start in September.

These sites will be: Aylsham Road (in Norwich), Bourne, Bowthorpe (in Norwich), Bretton (in Peterborough), Bungay, Cambridge, Chapelfield (in Norwich), Dereham, Downham Market, Fakenham, Huntingdon, Leiston, March, Market Deeping, North Walsham, Oundle, Plumstead Road (in Norwich), Sawston, Sheringham, Southwold, Spalding, Stamford, Thetford, Watton, Werrington (in Peterborough), Whittlesey, Wroxham, Wymondham.

Once the closures have taken place, there will be 220 sites remaining.

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