Lloyds Bank customers are no longer able to deposit cheques at Post Office locations as part of a recent change. This adjustment also impacts Halifax and Bank of Scotland customers, both of which are under the Lloyds Banking Group umbrella. However, customers can still make cash withdrawals and deposits at Post Office branches.
The banking group, with approximately 28 million customers collectively, reportedly discontinued the cheque deposit option last month, despite the ongoing closure of more bank branches. Lloyds Banking Group has confirmed the closure of 95 additional branches between May 2021 and March 2027, comprising 53 Lloyds, 31 Halifax, and 11 Bank of Scotland branches.
Over the past decade, Lloyds Banking Group has closed 1,470 sites, according to consumer group Which?. In response to the need for continued access to cash nationwide, the cash access network Link announced that 14 new locations will establish banking hubs.
Banking hubs are shared spaces where multiple banks operate on different days, offering various services such as cash withdrawals, deposits, and bill payments. A spokesperson from Lloyds mentioned that most customers now use the bank’s mobile app to deposit cheques conveniently by taking a photo, with a new freepost cheque service available for those requiring it.
While the exact impact on staff due to the closures was not specified by Lloyds, the bank assures that affected employees will be offered positions at other branches or within different areas of the business. The ongoing closure plan will result in 49 sites shutting down by October, following a previous announcement of 136 closures about a year ago, leaving Lloyds with 610 remaining branches once all planned closures are finalized.
A Lloyds spokesperson emphasized the importance of providing customers with flexible banking options, including mobile apps, 24/7 messaging services, community bankers, PayPoint services, and access to all Lloyds, Halifax, and Bank of Scotland branches. Customers are encouraged to bank wherever and whenever needed, with a focus on offering a variety of convenient options for managing finances.