Santander is set to reduce its UK branch network by nearly a quarter, shutting 95 branches and putting 750 jobs at risk
The bank says it will also be changing the format of a number of branches to include 18 counter-free and 36 reduced hours branches, alongside its 290 full-service branches and five Work Cafés.
Santander says areas affected by the closures will be covered by new Community Bankers providing face-to-face money management and general support for customers, visiting local communities weekly, as well as attending local Banking Hubs.
It says it will also invest in more Work Cafés - local community and business hubs providing co-working spaces with superfast WiFi and a dedicated event space
Santander says it has seen a rapid movement of customers choosing to do their banking digitally, with a 63% increase in digital transactions since 2019, while financial transactions completed in branches reduced by 61% in the same period.
A spokesman says: “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."
He says that all Santander current and business account holders can also bank using one of over 11,000 Post Office branches nationwide and 112 Banking Hubs.
News of the branch closures comes as ATM network Link reveals 19 new locations which can expect to see a shared banking hub open on the local High Street in the future.
Link has now recommended 224 hubs and is on track to deliver on the Labour Government's pledge to open 350 banking hubs over the course of this Parliament.
Since 2022, Link says it has assessed the impact of 1,879 bank branch closures, and continues to receive community requests from across the country.
John Howells, CEO, Link, says: "The hubs will make a real difference for the millions of people who still rely on cash. We’re committed to keeping cash on the high street, and will continue recommending banking hubs where they are needed.”