Lloyds Bank customers will no longer be able to deposit cheques at Post Office branches due to recent changes. This adjustment also affects Halifax and Bank of Scotland customers, as they are part of the Lloyds Banking Group. Despite the closure of more bank branches, customers can still withdraw and deposit cash at Post Offices.
The banks, serving approximately 28 million customers collectively, have removed the cheque deposit option last month. Lloyds Banking Group has announced the closure of 95 more bank branches from May 2021 to March 2027, including 53 Lloyds, 31 Halifax, and 11 Bank of Scotland sites.
In the past decade, Lloyds Banking Group has shut down 1,470 sites, according to consumer group Which?. To maintain cash access across the country, the cash access network Link revealed plans to establish 14 new locations with banking hubs.
Banking hubs are shared spaces where staff from different banks offer services such as cash withdrawals, deposits, and bill payments on designated days. A spokesperson from Lloyds mentioned that most customers now prefer using the bank’s app to deposit cheques by simply taking a photo on their phones. For those needing alternative options, a new freepost cheque service has been introduced.
The closure of branches will impact Lloyds employees, although the bank has assured that affected staff will be offered roles at other sites or within the company. Lloyds is currently in the midst of closing 49 sites by October, following a previous announcement of 136 closures. Once the ongoing closures are finalized, Lloyds will have 610 branches remaining.
A Lloyds spokeswoman emphasized the importance of providing customers with diverse banking options, including digital solutions, community bankers, and access to branches. The aim is to offer flexibility in banking services to meet customer needs efficiently and effectively.