More Than 500 U.K. Bank Branches Have Closed during Lockdown
More than 500 bank branches have permanently shut in the U.K. during lockdown, according to a report by Which?, despite calls for branches to remain open for those who rely on in-person banking. MailOnline has the story.
Repeated national lockdowns appear to have accelerated a shift to online banking for many customers.
But there are growing concerns over the impact the closure of branches in towns could have on vulnerable customers who rely on in-person banking.
The Financial Conduct Authority (FCA) had urged banks to delay branch closures during the pandemic where possible to do so.
But Which? found that some 529 branches have closed since March 23rd last year when the first national lockdown was imposed, according to numbers reported by the Telegraph.
Barclays, NatWest, Lloyds, HSBC, Co-op Bank and TSB are among those said to have made cuts.
Gareth Shaw, Head of Money at Which?, told the newspaper he believes bank closures will now “ramp up” as life returns to something closer to normal.
He said the coronavirus crisis had “put the proverbial foot down” on the ongoing move away from in-person banking to online.
The FCA’s plea to keep branches open is thought to have delayed some closures but Mr Shaw said the “case for keeping those branches open is not as strong” now as it was last year.
This report presents another example of lockdown accelerating a pre-established trend with more than 4,000 bank branches having now closed in the U.K. since 2015.
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They were going to close anyway.
Bank management has used the pandemic as an excuse to move branches to telephone banking, roll out remote worker stations and reduce opening hours. Which given how fast they put those in place, was the plan all along.
Anybody who relies on ‘in person banking’ needs to get with the programme – or find a Post Office.
Essentially, it’s but one specific example of the massive shift of resources upwards and away from the majority, using the shit-show as cover.
“Left Lockdown Sceptics” has a good analysis :
https://leftlockdownsceptics.com/2021/04/why-capitalism-now-needs-lockdowns-social-enclosure-and-medical-tyranny/
‘Repeated national lockdowns appears to have accelerated a shift to online banking for many customers’. Making the process appear to be customer driven. Bank branches were not required to close by lockdown though many did so while others greatly reduced their opening hours and enforced ‘Covid Safety’ to the max, including making customers stand outside in the rain if there were more than a very few people already in their spacious halls. Making branch banking as inconvenient as possible and then blaming customers for not using them. My banking has been entirely online for 5 or 6 years but that had more to do with the nature of my work and I’m fortunate enough to still have three cashpoints within easy walking distance. British Telecom did much the same when they wanted to get rid of call boxes. First they replaced the closed booths with phone stations open to the elements (and prying ears), then they made them card payment only before finally insisting that potential customers bought a £10.00 BT Card on the off chance that an emergency call had to be made. To be fair, the last time I tried to use a pay phone was when my… Read more »
‘The Financial Conduct Authority (FCA) had urged banks to delay branch closures during the pandemic where possible to do so’.
Seems a bit pointless as the banks themselves will be swept away before too long
Just the culmination of what the bastards have been doing for years.
Yes we lost most of our local bank branches prior to covid, the remaining two went in the lockdown.
For a while there was a Lloyds Bank truck in the car park on certain days but I’m not sure theyre doing that any more.
The cashless society is clearly coming. “They” want to be able to monitor our every move. ( Some will argue “if you have nothing to hide…” , but they’ll be missing the point). Add the “vaccine” passports and we’ll all be in a dystopian hell.