How many bank branches have closed in Stevenage and Hitchin in 2015?
Which? has published new statistics on bank closures in Stevenage and Hitchin, suggesting that "online banking" has played a key role.
Stevenage has only eight banks remaining losing 27.5 per cent since 2015, while just six branches are open in Hitchin, at a loss of 33.3 per cent.
This comes as Lloyds in Hitchin High Street announced that it is set to close in April 2025.
The branch joins 1,216 other sites part of Lloyds Banking Group, made up of Lloyds Bank, Halifax and Bank of Scotland, that have now shut down.
Banking hubs were cited as another reason for the decline, as major companies have recently committed to opening 350 hubs by 2029.
Figures were also revealed for North East Hertfordshire where 85.7 per cent of banks have closed down, leaving access to two branches.
In the South East there are 5.5 banks per 100,000 people and 520 branches left.
Sam Richardson, deputy editor of Which? Money, said: “Bank branch closures can have severe impacts on local communities, including on those who still want to use cash.
"New rules to protect free access to cash have been hard won and should make banks think twice about shutting branches without adequate replacements."
The new rule, enforced by the Financial Conduct Authority (FCA) will require banks and building societies to ensure they are plugging significant gaps in local cash access.
The FCA says banks and building societies will need to weigh up if local communities lack access to cash services, like branches and ATMs before closing down.
Across the country, banks and building societies have closed 6,161 branches since January 2015, at a rate of around 53 each month.
This represents more than 62 per cent the branches that were open at the start of 2015.
NatWest Group, which comprises NatWest, Royal Bank of Scotland and Ulster Bank, has closed 1,409 branches - the most of any banking group.
Meanwhile, Barclays is the individual bank that has reduced its network the most, with 1,227 branches now closed.
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