Banks across Britain are allowed to stay open during the coronavirus pandemic, with the Government last night putting branches on the exception list.
That means that during the time that the UK is on lockdown, banks are able to remain open but most are putting place social distancing measures and may close some branches.
This is Money has contacted all of the banking giants to reveal what they are doing for customers and branches as of Tuesday 24 March 2020.
This is Money asked the UK’s biggest banks what their plans were on branch openings – most will be keeping the majority of branches open but they may have shorter hours and will all operate social distancing measures
Banks told This is Money that they would remain open as much as possible, but that social distancing measures may lead to people having to wait outside.
Lloyds said that demand for physical banking was down and it expected that would remain the case. It has closed some of its Lloyds and Halifax branches.
Other banks, including HSBC, RBS / NatWest and building society Nationwide said opening hours would be reduced.
Customers are advised to check on their individual branch before attempting to go there.
The Bank of England has told banks and building societies to keep branches open wherever possible, according to Reuters.
A Bank of England spokesman said: ‘Our current advice to banks and building societies is that they should keep branches and contact centers open, where possible, as they are deemed essential for civil and commercial functions.’
Social distancing meant that people waited outside RBS in Bolton yesterday, with staff limiting the number of customers in the branch at one time
NatWest and its stablemate RBS said branches would remain open for ‘as long as possible’, but some ‘have had their opening hours impacted’.
However, it did not say any had closed, and said it would let customers know if opening hours changed on its website and in its mobile app.
It asked customers not to come into a branch unless it was necessary, and said it had brought in social distancing, potentially resulting in longer queues although this should not mean longer waits as the line is simply spread out further.
It said in a statement: ‘Our intention is to keep branches open from Monday to Friday, for as long as possible during the day, in line with the relevant public health guidance and subject to colleagues being able to come to work.
‘A number of our branches have had their opening hours impacted due to resource challenges in recent weeks but overall we continue to have high levels of availability’.
Britain’s biggest current account provider has ‘temporarily’ closed 157 Lloyds branches and another 99 Halifax branches.
Its website said other branches will ‘continue’ to open, but told customers only to visit if they are not showing any symptoms of coronavirus.
It has yet to list any other restrictions on branch access however, suggesting those whose local branch is open can go in if they want, provided they do not have the virus.
Its former stablemate TSB meanwhile has temporarily closed a fifth of its branches, and brought in reduced opening hours for a number of others.
Lloyds has temporarily closed 157 branches and 99 branches of its stablemate Halifax. It said it was experiencing less footfall and branches were less busy than usual
HSBC has not confirmed which branches have been closed due to coronavirus, but said its branches ‘are on reduced hours or closed at the moment’.
It said these reduced hours ‘vary branch by branch as they have to react to localised issues’, so customers must check their local branch is operating using its branch finder. This is Money has asked it for a full list of closures.
It also said its phone lines are now open from 8am to 8pm, except for calls relating to lost and stolen cards the line for which is open 24/7.
It said: ‘We’re receiving far more calls than usual, so our wait times are longer. Please only call us if it’s urgent, so we can help those most in need.’
Barclays said on its website: ‘If we temporarily close a branch, we’ll send a text message to anyone who uses it regularly.’
It has said it has not made any decisions on branch closures, but some may temporarily close due to staff being unavailable.
This would be updated on its branch finder and posters would be displayed outside.
It encouraged those wanting to pay in cheques to use its app rather than visit a branch; and use a debit card to pay rather than cash.
Like HSBC, it said its phone lines were busier than usual and told customers to ‘call only if they have an immediate financial problem that can’t wait.’
Britain’s biggest building society has cut its branch opening hours to 10am – 2pm on weekdays for 450 branches and 9am – 12pm on Saturdays, while it will close 50.
While it previously trialled opening early for elderly and vulnerable people, it has axed that following new Government guidelines.
Face-to-face interviews in branches will be stopped with only counter services provided, and those with pre-booked appointments contacted to arrange alternative ways of communicating.
It said there will be a two-metre distance rule between staff and customers, while the number of people in branches will be restricted.
Nationwide previously trialled opening an hour early for the elderly and vulnerable, but has scrapped this following new Government guidelines
Its director of branches Mandy Beech said: ‘We remain open and we will try to keep as many of our branches open while we are able to.
‘However, where possible we would ask people, particularly those at higher risk, to use online or mobile banking services and to speak to us if they have any needs or concerns.
‘We thank our members for their patience as we know this is an extremely challenging time for many.’
Santander has brought in social distancing measures which they said could result in queues outside branches but those who are elderly or vulnerable will be served first
Santander is cutting its branch opening hours to 10am – 4pm on weekdays and closing them on Saturdays.
It is closing ‘a number of’ branches but said the large majority remain open. All 50 of its university branches will be shut.
Like Nationwide, customers with face-to-face appointments are being contacted and offered online or telephone appointments instead.
It said in a statement: ‘We are closely following Government advice on social distancing and are limiting the number of customers in our branches at one time where necessary.
‘We have posters up across all our branch network advising customers to keep a safe distance from one another and where needed, colleagues are also actively reminding customers to keep their distance.
‘As such, this may mean that when branches are busy, some customers may need to wait outside until sufficient space is available, however, colleagues have been encouraged to serve vulnerable and elderly customers first where possible.
‘We would urge customers to use mobile or online banking wherever possible in order to allow our branch teams to focus on those customers who may need extra support to manage their accounts. We apologise for any inconvenience caused.’
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