Santander to Close 95 UK Branches, 750 Jobs at Risk
Santander has announced plans to shut 95 of its 444 UK branches as more customers shift to online banking. The move, which will leave the bank with 290 full-service branches, also includes reducing hours at 36 locations and removing front counters from 18 others. Santander said branch transactions have dropped 61% since 2019, while digital banking use has surged.
The closures will put around 750 jobs at risk, with the bank consulting unions about potential redundancies. To offset the impact, Santander plans to deploy 95 "community bankers" to visit affected areas and will continue expanding its "work cafés," which provide banking services and workspace. It also noted that 93% of the UK population will still be within 10 miles of a Santander branch, and customers can use services at Post Office locations and banking hubs.
The bank's decision follows a broader trend of UK lenders cutting back on physical locations due to rising costs and shifting customer habits. Consumer advocates have criticized the closures, warning they could leave some people, especially in rural areas, struggling to access cash and in-person banking services.
