Santander to shut 95 branches with 750 jobs at risk

High street lender Santander has announced plans to shut another 95 branches as part of an overhaul of its network, meaning around 750 jobs are at risk of redundancy. A "refreshed network" will include 349 branches, 290 "full-service", 36 reduced hours and 18 counter-free. There will also be five Work Cafés, providing a "hub for local communities and businesses, including co-working space, superfast WiFi and dedicated event space".

They can be accessed for free by customers and non-customers. Age UK has warned that continuing an "avalanche" of bank branch closures means there are "considerably fewer opportunities for face-to-face banking than there were even just a couple of years ago", and "risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence".

“As customer behaviour changes, we are ensuring that our branches remain fit for the future," a spokesperson for Santander UK said. "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."

They added: "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.

“Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers.

"However, we believe that the introduction of our new Community Bankers and the exciting plans we have for our remaining network of 349 branches and Work Cafés, alongside the rapid and innovative improvements to our award-winning mobile banking app, will provide the right balance of digital banking and human interaction when required.”

Caroline Abrahams, CBE, Age UK Charity Director, said: “The continuing avalanche of bank branch closures means that there are considerably fewer opportunities for face-to-face banking than there were even just a couple of years ago. Older people living in rural and semi-rural areas are likely to be the hardest hit, but those in towns and cities are not immune. Our research found that more than 4 million older people with a bank account in Britain are not managing their money online and so are at high risk of digital exclusion.  

“Age UK is calling for the protection of physical banking services for those who do not, or cannot bank online, and for the accelerated roll-out of shared Banking Hubs in areas where bank branches are fast withering away. We applaud the banks for coming together to set up shared Hubs, but it’s important that alternative services are set up speedily, especially in those areas with the greatest need. Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks such as withdrawing and depositing cash, applying for a loan, arranging third party access to their account or starting bereavement proceedings. The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.”

A full list of the branches to close can be found here.

Counter-free branches enable customers to interact with staff face-to-face but without the traditional banking teller behind a counter.

The "vast majority" of transactions can be undertaken in a counter-free branch.

For those involving large cash withdrawals or coins, customers need to use a Post Office.