Almost 5,000 high street banks have closed or are due to close since 2015

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    The trend was accelerated by the Covid-19 pandemic and MoneySavingExpert.com has reported hundreds of planned store closings this year, including:

    If your branch closes, you can still deposit and withdraw money through the post office

    Most customers affected by the closure of bank branches can deposit and withdraw money in any of the 11,500 branches of the Post. Your bank should have all the details about this service on their website.

    The post offices also allow customers to check their balance and deposit checks into their account. Use the Post’s branch finder tool to find the closest one.

    If store access is a priority and your store is closing, consider switching

    If you no longer want to stay with your previous bank (or don’t have a post office nearby) due to branch closings, switching to a bank that has a local branch nearby has no guarantee that it will not be closed in the future.

    Banks with branches that currently have incentives to switch include:

    • HSBC, which offers a cash bonus of £ 150 as well as a 1% linked regular savings account.
    • First direct, which offers a free cash bonus of £ 130 plus a 1% linked regular savings account.
    • Nationwide, which offers a free cash bonus of £ 125 for existing customers and £ 100 for new customers to switch to their FlexDirect account, plus a 2% fixed rate up to £ 1,500 and a 0% overdraft.
    • Virgin money, which offers a free Virgin Experience Days voucher or 12 bottle case of Virgin Wines valued at £ 150 plus 2.02% interest on up to £ 1,000.

    For more information, check out our guide to the best bank accounts. For more information on these extra extras, check out our guide to packaged bank accounts. If you’re looking to save, check out our guide to the best savings accounts for the latest information.

    Additional coverage by the press association.



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