Overview
- Under new guidance, branches will no longer open joint, premium Club, student or executor accounts, handle current account switches from rivals, or process bankruptcy appeals, overdraft disputes and basic-account applications.
- Customers seeking these services will be directed to the app or website, with staff able to assist on a discretionary case-by-case basis, and the bank says there will be no redundancies.
- The changes begin next month and are expected to be largely in place by May.
- Lloyds cites that 97% of interactions are now digital, yet almost five million of its 28 million customers do not use online services.
- The move comes alongside a continuing branch retrenchment that will leave about 610 sites after further closures through March 2027, and executives are due before the Treasury Select Committee next week to answer questions on financial inclusion.