Cliff Notes
- Santander UK branches to closure – The UK Bank plans to close 95 out of its 444 UK branches, potentially affecting up to 750 jobs.
- Following the closures, only 290 full-service branches will remain, with some branches adopting reduced hours or operating without counters.
- The shift towards online banking is cited as the reason for the closures, with in-branch transactions having decreased significantly since 2019.
Santander UK branches to closure – with 750 jobs at risk
Up to 750 jobs are at risk at Santander bank under plans to close nearly a quarter of its high street branches.
The high street lender has announced plans to close 95 of the bank’s existing 444 UK branches.
Of the remaining branches, 36 will operate on reduced hours branches and 18 will be “counter-free”.
Only 290 full-service Santander banks will remain open.
Move to online banking
The continued move to online banking has been given as a reason for the closures. The bank said financial transactions completed in branches fell 61% since 2019 while the use of internet banking to open accounts and conduct banking rose.
“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,” a spokesperson said.