Categorized | news

Lloyds Business Banking – Over 100 Branches to Close

There are many contractors out there who appreciate the fact they can visit their local Lloyds bank to pay in or draw out money, but things are changing.

It’s just been announced that Lloyds are closing over 100 local branches around the country, which means a loss of 325 jobs.

This all comes on the back of 225 branches that have already closed in recent months, with it all expected to hit 400 in total by the end of the year. Gone are the days of going into your local bank and queuing for half an hour to pay in a cheque it seems.

A spokesperson for Lloyds recently said that all of these closures were due to “changing customer behaviour.” In other words, most contractors are now doing their business banking online.

Who can blame them? Would you prefer to be standing in line at your local bank at 4pm on a Friday afternoon at the end of a week of work…or would you prefer to simply use an ATM, or do your transactions online from the comfort of your office or home? The choice is clear for ,many people.

However, that isn’t to say that local banks will disappear from the high street completely, as Lloyds have announced plans to replace many of their closed branches with “futuristic” hubs that will serve contractors in the new world.

These futuristic banking hubs will have no counters, minimal staff, and be around 45ft by 45ft in size. Some experts are predicting that hundreds of these new type of branches could soon be hitting the high street, with robots taking over from humans when the technology becomes available

We may even get to a point where contractors will be sending their robotic assistant down to the local “banking hub” to pay in money to a robot. It might sound far fetched, but it’s actually closer than you might think.

There are some people out there who are outraged their local Lloyds bank is closing though. A common argument is that a sense of community is being taken away from many high streets around the country, with many towns now having no Post Office and no Banks.

I agree to a certain extent, but we must move with the times, and if customer habits are changing then major companies such as Lloyds should adjust their business accordingly.

How do you find out if your local Lloyds branch is closing? Check out their official website for details.

Be Sociable, Share!

Leave a Reply

You must be logged in to post a comment.

  • Switch Accountants for FREE

    Switch Accountants for FREEAt K&B Accountancy Group we have introduced a simple and straightforward approach to changing accountants. We’re offering contractors, consultants and freelancers the opportunity to switch to K&B Accountancy Group for FREE without the need to pay for any ‘catch up’ or retrospective accountancy fees for the previous year’s accounts and corporation tax return* *T&Cs apply

our top 5 twitter posts

twitter

contractor accountants

contractoraccts



twitter Join the conversation
Free Telephone Advice