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Scores of banks have vanished from Kent high streets since the launch of an initiative designed to protect access to cash – with more set to close this year or in 2026. Last week Santander announced it is shutting 95 branches across the UK from June.
Last month Lloyds announced it was closing 137 of its brands’ branches between May this year and March 2026. With branches of other banks already giving closure notices, it means that across the UK, 364 banks either will close this year or have already shut, with another 19 scheduled to close next year and 39 due to shut at a date yet to be confirmed.
In total 1,879 bank branches have shut or announced their intention to close since February 2022, when a voluntary agreement saw the major banking groups commit to assessing the impact of every closure. That’s an average of around 50 closures announced per month or 12 per week.
The wave of closures has hit Kent. By New Year’s Day 2025, 38 banks had vanished, and another 10 will have closed by the end of this year.
In total, 49 banks have either closed or announced their intention to shut, including one that is scheduled to close at a date yet to be confirmed. Those closures include the TSB in High Street, Sheerness, which is set to close on Thursday (March 27).
Then two banks are due to shut in May, the Lloyds branches in Herne Bay and Margate. The loss of the Santander in Dover, at a date yet to be confirmed, was among the latest branch closures announced this week by the Spanish-owned banking giant.
The LINK initiative to assess the impact of closures – which was agreed by all the major banks including Barclays, HSBC, Natwest, Lloyds, and Halifax – was set up to ensure vulnerable customers and small businesses were not left behind in the switch to cashless payments and virtual banking. When closures leave communities without any local bank, banking hubs or free ATMs are set up to fill the gap.
In response to the latest raft of closures announced this week by Santander, LINK said it was recommending 19 new banking hubs in locations where branches are disappearing. LINK has now recommended 224 hubs as it continues to assess cash access across the country.
Of those, 139 are now up and running. The government has committed to delivering 350 banking hubs over the course of this parliament.
Banking hubs, owned by Cash Access UK and operated by the Post Office, offer face-to-face cash and banking services Monday through Friday, 9am to 5pm. Customers of any bank can use a counter service to withdraw and deposit cash, pay bills, and carry out any other banking transactions.
There are also private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy. The banks will work on a rotation, with staff from different banks available on separate days.
LINK CEO John Howells said: “Banking hubs continue to prove popular, and we’re delighted to announce that 19 new locations will benefit from their services in the future. The hubs will make a real difference for the millions of people who still rely on cash.
“We’re committed to keeping cash on the high street, and will continue recommending banking hubs where they are needed.”
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