Banking giant Santander is shutting down seven branches this week as part of a sweeping restructuring previously unveiled. The high street bank will close its branches in Brixton, Formby and Sidcup on August 11, with the Edgware Road branch in London following suit on August 12.
Further closures for Santander include the Willerby and Holywell branches on August 13, and the Plympton branch will cease operations on August 14. These moves are in line with Santander’s strategy to shutter 95 branches and trim opening hours at certain locations. The bank has confirmed that the restructuring will lead to 750 job losses. Prior to the closure announcement, Santander operated 444 branches.
Customers affected by local branch closures can seek assistance from a Santander community banker, who visits various local community venues on a scheduled basis.
Additionally, banking hubs, which are shared spaces on the high street where customers can carry out basic banking activities such as depositing and withdrawing cash, are available.
For everyday transactions, Santander clients can also utilise their nearest Post Office to deposit and withdraw funds, check balances, and submit cheques. The bank attributes the closures to a shift towards online banking services.
This follows Santander’s decision to reduce operating hours at 36 branches in June. Most are now open just three days a week instead of the previous five.
A spokesperson for Santander UK said: “As customer behaviour changes, we are ensuring that our branches remain fit for the future. Our new combination of full-service branches, alongside Work Cafés, counter-free branches and reduced hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance.
“As a business, we must move with customers and balance our investment across all the places where we interact with customers, to deliver the very best for them now and in the future.
“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.
“However, we believe that the introduction of our new Community Bankers and the exciting plans we have for our remaining network of 349 branches and Work Cafés, alongside the rapid and innovative improvements to our award-winning mobile banking app, will provide the right balance of digital banking and human interaction when required.”
Brixton – August 11.
Formby – August 11.
Sidcup – August 11.
Edgware Road – August 12.
Willerby – August 13.
Holywell – August 13.
Plympton – August 14.
