Santander Bank Makes Huge Decision to Close 95 Branches: What Now for Customers?
In a shocking development, Santander Bank has announced that it will close down 95 of its branches in the UK, leaving customers perplexed about what the future holds for their banking needs. This is part of the bank’s strategy to move with the times and keep pace with the digital age and rise in online banking.
Their closures will be announced over the coming months, though exact dates are yet to be made public. Santander has reassured clients that they will receive notice prior to their branch closure and arrangements will be in place for other banking to continue.
The bank has attributed the increase in online banking and mobile banking applications as the main cause for the closure of these branches. As more customers turn to digital banking services, the demand for physical branches has reduced considerably. This move to online banking has enabled Santander to review its branch network and make the appropriate changes.
But the closure of the branches has been criticized for its effect on local communities, especially in rural communities where banking facilities might be scarce. Santander has recognized these issues and has committed to helping affected communities through other banking arrangements, including mobile banking facilities and agreements with local post offices.
The customers of the branches that will close will be able to access their accounts and banking services via alternative channels, including:
Online banking and mobile phone banking apps
Telephone banking
Post office branches
Local Santander branches
Santander has also assured customers that closing these branches will not lead to any job losses, as staff will be moved to other branches or jobs within the bank.
As the banking industry continues to evolve, it’s likely that we’ll see more branches closing in the future. However, Santander’s commitment to supporting affected communities and providing alternative banking arrangements is a positive step towards minimizing the impact of these closures.