Lloyds Banking Group has introduced a new change that means millions of customers will no longer be able to open accounts in its branches, forcing them to do it online. Staff will no longer open joint, premium or student accounts in branches, nor will they switch customers from other banks.
The move has been seen as a sign of “the death of branch banking”, coming amid the banking group's plans to close 162 banks by the end of 2026, with more scheduled for 2027.
Internal documents seen by The Telegraph reveal that Lloyd's Bank employees will redirect customers to its app or website to open an account.
Martin Quinn, of the group Campaign for Cash, said: “In-person bank branch services are vital for consumers. People don't want to talk to a machine, they want to deal with real people.
“High streets up and down the country are being hollowed out by shop closures and removing more face to face banking services is a real kick in the teeth.”
The documents also revealed that employees will no longer complete various other services, including opening premium club accounts or executor accounts (temporary bank accounts used by those managing the finances of someone who has recently died).
The changes come amid Lloyds Banking Group, which owns Lloyds Bank, Halifax, and Bank of Scotland, continuing to slash its branch network as more and more people move to digital and online banking.
According to the banking group, it has over 23 million digitally active customers, and in 2024, the group said only 8% of its customers use a branch as their only way to manage their money.
Lloyds plans to start introducing the changes from next month, with the overhaul completed by May.
A spokesperson for Lloyds said: “For those who choose to visit a branch, our colleagues remain ready to help with managing money or opening accounts.”
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