Santander announces changes to UK branch network 

• Santander announces 111 branch closures following network review
• Majority of closing branches are under three miles from another Santander branch, the furthest is five miles away
• All are within half a mile of at least two free-to-use ATMs

Santander has today announced plans to close 111 branches by the end of August 2021 in response to the ongoing shift by customers towards mobile and online banking, a long-term trend which has been accelerated by the pandemic.

Branch transactions fell by 33% over the two years before the pandemic and declined by a further 50% in 2020. Mobile and online transactions have meanwhile been growing by 20% each year, with almost two thirds of overall transactions now digital.

The majority of the closing branches are less than three miles from another Santander branch, and the furthest distance is five miles. All are within half a mile of at least two free-to-use ATMs and one mile of the nearest Post Office.

Santander will retain a network of 452 branches following the proposed changes, providing broad coverage across the whole of the UK. All Santander current and business account holders can also bank using one of over 11,000 Post Office branches nationwide.

Santander will carry out a programme of activities to support customers of closing branches to find other ways to bank that best suit their needs, including help to find alternative branches and access digital, telephone and Post Office banking services. This will include proactively contacting potentially vulnerable customers by phone to provide individual support.

A dedicated phone number is available to provide customers with help and information on the closures (0800 085 0879). The bank will also hold a series of online events over the coming months where a member of Santander’s branch team will explain alternative ways to bank and the tools and support available.

Santander has consulted its trade unions on the closure proposals and expects to be able to find alternative roles for a significant number of those colleagues wishing to stay with the bank.

Adam Bishop, Head of Branches, said: “Branch usage by customers has fallen considerably over recent years so we have made the difficult decision to consolidate our presence in areas where we have multiple branches relatively close together. The majority of the closing branches are within three miles of another branch and the furthest is five miles away.

“We will provide every support to customers of closing branches to find alternative ways to bank with us that best suit their individual needs. We are also working alongside our unions to support colleagues through these changes and to find alternative roles for those impacted wherever possible. We continue to believe that branches have an important role to play and we expect the size of our network to remain stable for the foreseeable future.

“We are committed to supporting our customers and responding to changes in the way customers want to access services.”

As branch usage has declined, Santander has adapted how it uses its branches to support the communities in which it operates. Prior to pandemic restrictions, branches ran events on common financial concerns, such as fraud and buying a home, while larger branches provided meeting space for local businesses and charities. During the pandemic, the events have been moved online, while branch teams have been trained to serve customers by phone and online chat, ensuring customers can get the support they need from home.

To support customers who continue to use cash, Santander has taken an active approach with representation on several industry working groups and a recent submission to the government’s consultation on Access to Cash. On a practical level, the bank is supporting the Mastercard Purchase With Cash Back initiative and is this year rolling out improved ATM functionality to support those withdrawing and depositing cash.  

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Editors Notes:

Full list of closing branches:

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2020, the bank had around 21,900 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2020, Banco Santander had more than a trillion euros in total funds, 148 million customers, of which 22.8 million are loyal and 42.4 million are digital, 11,000 branches and 191,000 employees.