Lloyds Bank customers are facing changes as they can no longer deposit cheques at Post Office locations. This adjustment also affects clients of Halifax and Bank of Scotland, both under the Lloyds Banking Group umbrella. Despite the recent closure of more bank branches, customers can still withdraw and deposit cash at Post Office branches.
The trio of banks, collectively serving around 28 million customers, ceased the option to deposit cheques last month while announcing additional bank branch closures. Lloyds Banking Group disclosed plans to close a further 95 branches between May this year and March 2027, including 53 Lloyds, 31 Halifax, and 11 Bank of Scotland locations.
Over the past decade, Lloyds Banking Group has shut down 1,470 sites, according to consumer group Which?. To ensure continued access to cash across the country, the cash access network Link will establish 14 new banking hubs in various locations.
Banking hubs are shared spaces managed by staff from different banks on rotating days, providing services such as cash withdrawals, deposits, and bill payments. A spokesperson from Lloyds mentioned that most customers utilize the bank’s app to deposit cheques conveniently through photo submissions. The bank introduced a new freepost cheque service for customers still needing to deposit cheques.
While the exact number of staff affected by the closures was not specified, Lloyds assured that all branch employees would be offered roles at other sites or within the company. Currently, Lloyds is in the midst of closing 49 more sites by October, following 136 closures announced approximately a year ago. Once all planned closures are finalized, Lloyds will have 610 branches remaining.
A Lloyds spokesperson emphasized the importance of offering customers diverse banking options to suit their preferences, including digital apps, 24/7 messaging services, community bankers, and branch access. The bank aims to provide flexibility for customers to manage their finances conveniently and efficiently.