HIGH street bank branches are shutting at a rate of more than ten a week across the UK.
The move is saving the organisations millions but is leaving older and more vulnerable customers with further to go to reach their nearest branch.
More than 550 outlets are being axed by leading lenders this year, the Daily Mail reports.
These closures are on top of the more than 1,000 that have shut since 2015.
Between 2011 and 2016, the ‘big five’ lenders closed 2,809 branches between them.
Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander closures accelerated sharply in the past two years.
Just last week Barclays confirmed it plans to close a further 54 branches this year, bringing the total number of closures to 63.
HSBC earlier this year also announced it will close 62 branches.
In March, RBS said it plans to close about 180 branches in Britain and Ireland and about 1,000 roles were at risk at the state-controlled lender
Lloyds Bank in April also confirmed the closure of 100 branches across the UK by the end of October with the loss of 325 jobs.
James Daley, of consumer group Fairer Finance, said: “Banks have to realise they have a social responsibility as well as a responsibility to their shareholders, and I think they need to hold on for longer before closing these branches.
“Bit by bit, a growing number of people are becoming financially excluded and I’m worried nobody is keeping an eye on that.”
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He added: “I would encourage the Government or regulators to look at it.”
Campaigners claim rural areas tend to be hardest hit, meaning families have to travel further than ever for vital financial services.
Scores of country towns now have no branch at all after every lender moved out.
Banking trade body UK Finance said decisions to close branches were “never taken lightly”.
A spokesman said: “Banks are also investing in new ATMs and mobile bank branches to reach more rural communities.”
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