Santander has announced plans to significantly streamline its UK branch operations, closing 95 locations, which will impact approximately 750 jobs. This move represents a reduction of nearly 25% in the bank’s UK branch network.
In addition to the closures, Santander will be adapting the format of several branches, introducing 18 counter-free locations and 36 branches with reduced hours. The bank will maintain 290 full-service branches and five Work Cafés, designed as collaborative spaces for local communities and businesses, featuring high-speed Wi-Fi and dedicated event areas.
The decision comes in response to a marked shift toward digital banking, with Santander reporting a remarkable 63% increase in digital transactions since 2019. In contrast, in-branch financial transactions have decreased by 61% during the same timeframe.
A spokesperson for Santander stated, “As customer behavior evolves, we are committed to ensuring that our branches are equipped for the future. Our new model, which combines full-service locations, Work Cafés, counter-free branches, and those with reduced hours, seeks to strike the right balance between digital banking solutions and personal financial management. It is essential for us to adapt to our customers’ needs while optimizing our investments in various customer interaction channels, to provide the best possible service both now and in the future.”
The bank emphasized that current personal and business account holders can still access banking services at over 11,000 Post Office branches nationwide, in addition to the 112 Banking Hubs available.
This announcement coincides with the news from the ATM network Link, which has identified 19 new locations set to benefit from the establishment of shared banking hubs on local high streets. Link has recommended a total of 224 hubs thus far and remains on track to fulfill the government’s commitment to inaugurate 350 banking hubs by the end of this parliamentary term.
Since 2022, Link has evaluated the implications of 1,879 bank branch closures and is actively responding to community requests from across the UK. John Howells, CEO of Link, remarked, “These hubs will have a significant impact on the millions of people who still depend on cash. We are dedicated to maintaining cash access in our communities and will continue to advocate for the creation of banking hubs in necessary areas.”