Sunderland bank branch set to close as Lloyds and Natwest groups plan 81 closures

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A Sunderland bank branch is set to close after two of the UK's biggest banking groups announced plans to make big cuts.

Lloyds Group and NatWest Group have said more than 80 branches the sites in England, Scotland, Wales and the Isle of Man will close between July and November this year.

Among them is the Fulwell Lloyds branch in Sea Road, Sunderland, which is now scheduled to close in the summer, on July 20, 2023.

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Elsewhere in the North East, the Natwest Park View branch in Whitley Bay is also due to close on July 20.

The Lloyds bank branch in Sea Road, Fulwell, Sunderland, is set to close. Picture c/o Google Streetview.The Lloyds bank branch in Sea Road, Fulwell, Sunderland, is set to close. Picture c/o Google Streetview.
The Lloyds bank branch in Sea Road, Fulwell, Sunderland, is set to close. Picture c/o Google Streetview.

The full list of 81 branches which are slated for closure include four from Bank of Scotland, nine Halifax, 26 Lloyds, 40 NatWest and two Royal Bank of Scotland.

It means that in the first three months of this year banks have earmarked 213 sites for closure across the country, with NatWest and Barclays closing the most, shedding 63 and 58 branches respectively.

Nationwide, TSB and Virgin Money have also announced a small number of closures each.

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The banks are cutting back on their branches simply because they are not being used like they used to be.

An increasingly large proportion of customers choose instead to bank from the comfort of their own homes, using their smartphones or computers to manage their money, rather than travelling to a branch and waiting in a queue.

But for those with less access to technology, often older people, the closure of local branches can present additional challenges - increasing the distance they need to travel to deal with cash.