Summary
Santander plans to close 44 branches in the UK, affecting 291 jobs. This decision is part of a trend where banks are shutting physical locations due to more people banking online. To help affected communities, Santander will provide limited services at nearby locations like libraries.
Key Facts
- Santander will close 44 UK branches, impacting 291 jobs.
- The closures are due to most banking transactions happening online.
- Last year, Santander announced it would close 95 branches, affecting 750 employees.
- Critics say closures make accessing cash harder, especially for elderly and vulnerable groups.
- Approximately 96% of Santander's transactions now occur digitally.
- In response, Santander will support communities with services at local hubs one day a week.
- Other banks like Lloyds are also closing many branches, highlighting a broader industry shift.
