Santander has announced plans to close 95 branches across the UK, putting 750 jobs at risk.
The bank said that it was building a “refreshed network” of 349 branches, of which 390 will be full-service, 36 will operate reduced hours, 18 will be counter-free and five work cafes.
It said the branch closures had been led by changes to customer behaviour, with more people moving their banking online.
It said it would enhance its mobile banking app, chat service and telephone banking after a 63% increase in digital transactions since 2019, coupled with a 61% drop in financial transactions taking place in branches.
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The locations where branches are closing will be covered by Santander Community Bankers who will offer face-to-face support weekly via local banking hubs in facilities such as libraries. Customers will also be able to bank via their local Post Office. Work Cafes will offer customers the chance to do their banking while accessing a co-working space with free WiFi.
Santander’s announcement follows similar plans announced by Lloyds Banking Group earlier this year to close 136 branches across its network as more and more customers use mobile and online banking.
The bank said it would provide support to the approximately 750 staff who could be placed at risk of redundancy if the proposals proceed following consultations with unions.
This will include assistance with finding redeployment roles in Santander, access to outplacement support and dedicated wellbeing support.
A spokesperson said: “As customer behaviour changes, we are ensuring that our branches remain fit for the future.
“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.”
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