Alarming rate of closures
Bank and building society branches are closing at an “alarming” rate of nearly 60 per month, according to Which?.
The consumer group said analysis showed that between the start of 2015 and the end of 2018, 2,868 branches have closed or are scheduled to do so – averaging just under 60 per month.
Which? said branch closures have been accelerating. It said so far this year 670 branches have closed or been scheduled for closure – putting 2018 on course to overtake the number of closures in 2017, when 879 branches were shut. Its analysis found that NatWest has closed the most branches.