Lloyds Bank customers are no longer able to deposit cheques at Post Office branches due to recent changes in services. This change also affects Halifax and Bank of Scotland customers, as they are part of the Lloyds Banking Group. However, customers can still withdraw and deposit cash at Post Office locations.
The decision to remove the cheque deposit option was made last month by the banks, which collectively serve around 28 million customers. Despite this change, more bank branches are set to close, with Lloyds Banking Group confirming the closure of 95 branches between May 2022 and March 2027. This closure plan includes 53 Lloyds, 31 Halifax, and 11 Bank of Scotland branches.
Over the past ten years, Lloyds Banking Group has closed a total of 1,470 sites, according to consumer group Which?. In response to the closures, the cash access network Link announced that 14 new locations will house banking hubs to ensure continued access to cash services across the country. These banking hubs are shared spaces where staff from different banks operate on different days, providing services such as cash withdrawals, deposits, and bill payments.
A spokesperson from Lloyds mentioned that most customers now prefer to use the bank’s app to deposit cheques by simply taking a photo on their phone. For customers still needing to deposit cheques, a new freepost cheque service has been introduced. While the exact number of staff affected by the closures was not specified, Lloyds assured that all branch employees would be offered positions at other sites or within the company.
Lloyds is currently in the midst of another round of closures, with 49 sites scheduled to shut down by October. Following previous closures, the bank will be left with 610 branches once the current closure plan is completed. The spokesperson emphasized that Lloyds aims to provide customers with various banking options, including digital services, 24/7 messaging support, community bankers, PayPoint services, and access to physical branches for added flexibility.
