Major high street bank to shut TEN stores next week and 37 more in July as millions of Brits told to close accounts

A MAJOR high street bank is set to shut ten UK branches this week, in a huge blow to the high street.

Santander announced in March that 95 of its branches will be closing, due to more customers making the switch to online banking.

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Santander is set to close nine branches this week[/caption]

A total of 23 branches in June, including 10 next week and 13 the week after.

In July, 37 more Santander sites will get the chop, with 35 more set to close by the end of the year.

A statement on the Santander website reads: “We last did a major review of our branches in 2021.

“Since then, many of our customers are choosing to use Mobile, Online and Telephone Banking more, and branches less.”

However, the closures have led to fears that older customers, who prefer to do their banking face to face, will be left behind.

Age UK is campaigning for banks to keep some banking services in person, as four million older Brits are unable to manage their finances online.

Caroline Abrahams, charity director at Age UK, said: “Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks.

“The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.”

In order to combat this issue, 73 banking hubs have been set up across the UK, with customers from any bank able to use the in person service.

In addition to the 95 closures, Santander will also be making changes to its surviving branches.

This includes cutting opening hours in half, and making some businesses “counter free.”

The reduced hours will come into force on June 30, with 36 branches affected.

Satander is also opening work cafes which provide free co-working spaces and banking facilities to anyone, regardless of whether they are Santander customers.

And Santander isn’t the only bank to close branches, with research from Which? revealing that 6,300 bank and building societies have closed since January 2015.

This averages to 53 store closures per month.

A total of 102 banks are set to close across different institutions this month.

This includes major providers like Lloyds, Natwest and Halifax, in addition to Santander’s closures.

Meanwhile Nationwide has promised to keep its nearly 700 branches open until the start of 2028 as they claim more customers are visiting its stores.

Muir Mathieson, Nationwide’s chief financial officer, recently said: “The branches are thriving.

“We’re seeing the number of people going into branches going up, and we think part of that increase is that there are fewer branches on the high street now that our competitors have closed theirs.”