Lloyds, Halifax and Bank of Scotland to share branches

Lloyds, Halifax, and Bank of Scotland customers will be able to use services in any branch of the three brands as part of the group's latest network shake-up.

Lloyds Banking Group, which owns all three banking brands and is the UK's biggest moneylender, said the move would give customers more choice and flexibility.

It has not confirmed a date for when the changes will come into effect, but concerns have been raised by some that the move could pave the way for more branch closures in the future.

A raft of High Street bank branches have been closed in recent years, as more people have shifted to accessing banking services online.

Lloyds has closed dozens of branches alone and cut hundreds of staff as part of a major overhaul of its business which began in February 2022.

The banking group said its latest decision would enable Lloyds, Halifax, and Bank of Scotland customers the option to use branches of any brand for in-person banking, as well as "apps, mobile messaging, and telephone services".

"As with many industries, most of our customers are moving to mobile and online banking because it is faster, easier, and more convenient," a statement added.

The changes could mean some people may be able to more easily access a branch nearer to where they live, but some 55 Lloyds Banking Group branches are still set to shut across the UK this year.

Once all closures that have been announced in recent times have been completed, the group will have 892 branches, of which 447 will be Lloyds, 341 Halifax, and 104 Bank of Scotland.

Bank branch closures in general have been more likely to occur in disadvantaged areas.

Lloyds said call centre staff for the banking group currently help customers of all brands who contact for support.

In response to the decision, the BTU, which represents the interests of Lloyds employees, warned more banks could shut as a result of the changes.

"The co-serving of customers is not about engagement or choice, it's about making it easier for Lloyds to close more branches and save more money," it said.

Campaigners have argued that some shops and other retailers could stop accepting cash if it becomes too tricky for businesses to process.

Recent figures revealed that cash use in the shops rose for a second year in a row in 2023 after a decade of falls, according to retailers.

Notes and coins were used in a fifth of transactions, the British Retail Consortium (BRC) said, as shoppers found cash helped them to budget better.

It is understood that BTU is not recognised as an official union so is not engaged or consulted by Lloyds Banking Group.