Customers of Lloyds, Halifax and Bank of Scotland will be able to use the services at any branch of the three brands as part of the latest shake-up of the group’s network.
Lloyds Banking Group, which owns all three banking brands and is the UK’s largest moneylender, said the move would give customers more choice and flexibility.
When the changes will come into effect has not been confirmed, but some have expressed concerns that the move could pave the way for more branch closures in the future.
Many High Street bank branches have been closed in recent years as more people turn to online banking.
Lloyds alone closed dozens of branches and cut hundreds of staff as part of a major overhaul of its business which began in February 2022.
The banking group said its latest move would give customers of Lloyds, Halifax and Bank of Scotland the ability to use branches of any brand for in-person banking, as well as “apps, mobile messaging and telephone services”.
“As in many industries, most of our customers are turning to mobile and online banking because it’s faster, simpler and more convenient,” a statement added.
The changes could mean some people could more easily access a branch closer to home, but some 55 Lloyds Banking Group branches are still expected to close across the UK this year.
Once all the recently announced closures are completed, the group will have 892 branches, including 447 at Lloyds, 341 at Halifax and 104 at Bank of Scotland.
Bank branch closures are generally more likely to occur in disadvantaged areas.
Lloyds said the banking group’s call center staff are currently assisting customers from all brands who contact for support.
In response to the move, the BTU, which represents the interests of Lloyds employees, warned that more banks could close as a result of the changes.
“Jointly serving customers is not about commitment or choice, it’s about making it easier for Lloyds to close more branches and save more money,” he said .
Activists have argued that some stores and other retailers could stop accepting cash if it becomes too difficult for businesses to process.
Recent figures revealed that the use of cash in stores increased for the second year in a row in 2023 after a decade of decline, according to retailers.
Notes and coins were used in a fifth of transactions, the British Retail Consortium (BRC) said, as shoppers found that cash helped them budget better.
It is understood that the BTU is not recognized as an official union and is therefore neither engaged nor consulted by Lloyds Banking Group.
