Almost 30 million Brits will see a major shake-up as their bank cancels a crucial service. The change impacts Lloyds, Halifax, and Bank of Scotland, which are part of Lloyds Banking Group.
Customers will no longer be able to deposit cheques at the Post Office; they will still be able to withdraw and deposit cash at Post Office branches. The banks, which collectively have around 28 million customers, are reported to have removed the option to deposit cheques last month – despite announcing more bank branch closures. Lloyds Banking Group recently confirmed 95 more bank branches will close between May this year and March 2027. This includes 53 Lloyds, 31 Halifax and 11 Bank of Scotland sites. Lloyds Banking Group has closed 1,470 sites in the past decade, according to consumer group Which? consumer group. Cash access network Link said 14 new locations will receive a banking hub in order to protect access to cash across the country.
Banking hubs are shared spaces operated by staff from different banks on different days, offering services such as cash withdrawals and deposits and bill payments.
A Lloyds spokesperson said: “Most customers use our app as the easiest way to pay in a cheque, by taking a photo on their phone and letting us take care of the rest.
“Very few customers were choosing to deposit cheques at the Post Office and we’ve introduced a new freepost cheque service for those that need it.”
Lloyds did not specify how many members of staff will be impacted by the closures, but all those who work at the branches will be offered a role at another site or in another part of the business.
The banking group in the middle of its latest round of closures, which will see 49 sites shut down by October. That followed 136 closures announced around a year ago.
Lloyds will have 610 branches remaining once all the previously announced closures are complete.
A spokeswoman for Lloyds said: “Customers want the freedom to bank in the way that works for them and we offer more choice and ways to manage money than ever before.
“From our leading apps and 24/7 messaging service to local banking options like our community bankers, PayPoint and access to all of our Lloyds, Halifax and Bank of Scotland branches, we’re giving our customers the flexibility to bank wherever and whenever they need us.”
