Santander has announced the closure of 95 branches across the UK, jeopardizing around 750 jobs as it adapts to changing customer behaviors favoring digital banking. The network will shrink from 444 to 290 branches, increasing the number of counter-free locations and reduced-hour services. While online transactions have surged by 63% since 2019, in-branch transactions have plummeted by 61%. Despite the closures, 93% of the UK will be within 10 miles of a branch, supported by alternative banking options like community bankers and refurbished services. Santander also plans to enhance its digital offerings.
Santander's decision to close 95 branches reflects changing customer habits, as online transactions surge while in-branch transactions decline significantly.
The bank emphasizes that 93% of the UK population will remain within 10 miles of a branch, ensuring continued access despite closures.
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