The rapid retreat of banks from Britain's high streets is set to continue in 2026, with a total of 100 branches scheduled to close their doors for good. This includes several sites in the capital, as customers increasingly shift to digital banking.
London Hit by Latest Wave of Closures
So far this year, closure dates have been confirmed for 73 branches across major UK banks, with a further 27 announcing plans to shut. London has already felt the impact, with three branches closing in quick succession in early January.
The Lloyds branch on Majestic Way in Mitcham was the first to close on Thursday, 8 January. It was followed by the Lloyds branch at Central Parade in New Addington, Croydon, on Thursday, 14 January. The following day, Friday, 15 January, saw the Halifax branch on Garratt Lane in Wandsworth shut its doors.
A National Trend of Decline
This year's planned closures are part of a much larger, sustained trend. Since February 2022, a staggering 2,065 branches have either closed or announced plans to do so across the UK. This equates to an average of at least one closure every single day.
In London alone, 275 banks have vanished from high streets in that period. The worst affected areas include Westminster with 25 closures, the City of London financial district with 15, and 13 each in Bromley, Camden, and Kensington and Chelsea.
Of the closures scheduled for 2026, Lloyds Banking Group is leading the way:
- 40 Lloyds branches closing or awaiting a date.
- 18 Santander branches.
- 17 Bank of Scotland branches.
- 15 Halifax branches.
- 7 NatWest branches.
Banks have consistently blamed the decision on changing customer habits, with a major shift towards mobile and online services reducing footfall in physical branches.
Protecting Access to Cash and Services
The wave of closures began in earnest after a key voluntary agreement in February 2022. This saw major banking groups commit to assessing the impact of every branch closure, particularly on vulnerable customers and small businesses.
LINK, the cash machine network, has monitored every announcement since. Its Chief Corporate Affairs Officer, Nick Quin, stated: "More people are choosing to bank and pay for things digitally... but [cash] remains critical, and over £76bn was withdrawn from LINK cash machines last year."
To mitigate the impact, banking hubs are being rolled out where closures leave communities without any local bank. Gareth Oakley, CEO of Cash Access UK, reported progress: "We've opened more than 200 now, including 100 in 2025 alone... They're getting busier too with on average around 150 customer transactions every day."
These hubs allow customers of all major banks to access face-to-face services and cash in one shared location, alongside free-to-use ATMs, in an attempt to fill the void left by the retreating high street bank.
