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Banks across the UK are continuing to close with Halifax, NatWest and Barclays shutting down a further 76 branches this month as demand falls and more customers adopt online banking.
A total of 5,605 bank and building society branches have closed since 2015, according to research by Which?.
Charity Age UK has warned that older or vulnerable Britons could struggle without the ability to access face-to-face banking services.
The charity’s research has found 27 percent of over-65s and 58 percent of over-85s rely on visiting their bank in person.
Caroline Abrahams, charity director at Age UK, said: “We need to face up to the fact that huge numbers of older people, the oldest old, especially, are not banking online.”
READ MORE: 76 more bank branches are to close this month
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She continued: “Even older people who do bank online often want the ability to talk to a bank employee in the flesh about some kind of transaction.
“A lack of face-to-face banking will only serve to further exclude the millions of people on a low income who have no or limited access to the internet.”
To replace the services of branches, some high streets have opened bank hubs which are shared spaces for high street lenders to help communities manage their finances, but only four have opened so far.
A recent survey by Accenture of 49,000 bank customers around the world has found that two-thirds like seeing bank branches in their neighbourhoods.
Digitalisation has meant many customers have lost personal interaction with their bank. Some 44 percent of 18-44-year-olds surveyed said they had difficulty getting human support when they needed it.
So what do YOU think? Are you concerned about bank closures and the move to online banking? Vote in our poll and leave your thoughts in the comment section below.
Has your local branch closed or are you struggling with online banking? Express.co.uk would like to hear from you, email us at personal.finance@reachplc.com
