Santander to close 140 branches putting 1,270 jobs at risk – is your local branch closing?

Santander is to close 140 branches across the UK in a move that puts 1,270 jobs at risk.

The first banks will close on April 25 with the latest shutting shop on December 12. It will leave Santander with 614 branches across the UK.

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Santander says the closures are in response to how customers are choosing to carry out their banking.

The Spanish-owned bank reports that people are increasingly banking online rather than visiting their local branches.

It says the number of transactions carried out in Santander branches has fallen by 23 per cent over the past three years, while digital transactions have grown by 99 per cent over the same period.

Santander says it has consulted with unions on the proposed changes, and adds that it aims to find alternative roles for the 1,270 staff members affected.

But it only expects to find new roles for around a third.

Santander says its future branch network will be made up of a combination of larger branches offering improved community facilities and smaller branches using the latest technology.

Around 100 of these branches will be refurbished over the next two years.

Santander adds that all current account and business account holders can also bank in Post Office branches around the country.

But campaigners say the closures will be a blow for those who rely on traditional banking services.

Gareth Shaw, head of Which? Money, said: "These closures will come as a blow for all those who rely on access to traditional banking services across the UK, at a time when branches are disappearing at a rate of more than 60 a month.

"While online banking is on the rise, a third of the country still does not use it and, as we've seen from a recent spate of IT failures, such systems are not infallible.

"Despite the switch to digital ways of banking and paying, millions of consumers still need access to cash. It is vital for a regulator to be given responsibility for ensuring that people have access to the services they rely on."

Susan Allen, Santander's head of retail and business banking, said: "The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels.

"As a result, we have had to take some very difficult decisions over our less-visited branches, and those where we have other branches in close proximity.

"We will support customers of closing branches to find alternative ways to bank with us that best suit their individual needs. We are also working alongside our unions to support colleagues through these changes and to find alternative roles for those impacted wherever possible."

Santander is just the latest in a string of big banks to axe bank branches.

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In April 2018, Lloyds announced that it would be closing down another 49 of its branches across the country last year, putting 325 staff members out of work.

While September 2018 saw RBS reveal plans to cut 54 branches.

Santander made a big change to payments last year to help stop payment scams.

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