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Halifax bank in Margate set to close as Lloyds Banking Group axe 60 branches across UK

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The Halifax bank in Margate High Street will close later this year.

It has been announced that a total of 60 branches across the UK have been axed by parent company Lloyd's Banking Group.

The Margate branch will close in July
The Margate branch will close in July

The closures are set to take place throughout the summer and into early Autumn with cuts affecting Bank of Scotland, Lloyds and Halifax branches.

The Margate branch has a closing date of Monday, July 18.

Despite the closure in Margate, the banking group assures that customers will still have everyday banking and cash access within one mile.

Lloyds Banking Group said the decision was made as the number of customers now using online banking reached an all-time high this year and footfall in local high streets is dwindling.

Trade union Unite has said the move could result in 124 job losses, although the company has not said how many workers will be affected and stressed it aims to offer a new role to all staff affected.

A total of 60 branches will close across the UK
A total of 60 branches will close across the UK

Lloyds has 18.6 million regular online banking customers and over 15 million mobile app users.

In the last year the number of mobile banking users with the group has increased by around 27%.

Back in October last year it was announced that the Halifax branch is Sevenoaks would close in a similar cut made by the banking giant.

Vim Maru, group retail director, Lloyds Banking Group said: “Just like many other high street businesses, fewer customers are choosing to visit our branches.

"Our branch network is an important way for us to support our customers, but we need to adapt to the significant growth in customers choosing to do most of their everyday banking online.”

The full list of branches that are closing aross the UK includes 24 Lloyds Bank, 19 Bank of Scotland and 17 Halifax banks.

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