Customers of Halifax, Lloyds and Bank of Scotland will be allowed to use any of its branches under a shake-up that has sparked fears over more branch closures at the lender.
The changes were outlined to staff in e-mail from Jayne Opperman, CEO, consumer relationships.
“We know more people are choosing mobile over any other way to bank, but we also need to evolve how we support customers in other channels," she wrote. "That’s why - from later this year - we’ll make it possible for customers to use any of our Lloyds, Halifax, and Bank of Scotland branches, regardless of brand they bank with giving them access to the biggest combined branch network."
The implementation of the new policy is set to take place in Q4.
A quarter of the banking group’s branches are believed to be close to one another. Lloyds internal banking union, BTU, believes that allowing any customers to use any branch could pave the way for more branches to be shut.
"The co-serving of customers is not about engagement or choice, it’s about making it easier for Lloyds to close more branches and save more money," states the Union. "In a separate presentation seen by the Union, Lloyds confirmed that 25% of its branch network shares the same location. So, in Bedford for example, where the Union is based, there is Lloyds branch and a Halifax branch virtually next door to each other.
"What do you think Lloyds will do in Bedford after it’s implemented co-serving? It will simply close one of the branches and tell customers they can do their banking in the branch that remains open. That will be replicated across the three branch networks.
The Union estimates that Lloyds will be able to close 233 branches "at the virtual drop of a hat", with thousands of staff losing their jobs.
Lloyds Banking Group has already announced plans to shutter 55 more branches this year, bringing the total number of outlets across the high street network to 932.