𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

The Labour Government has been urged to take action and “stop sitting on their hands” as a major Halifax update has sparked more concerns for the health of the high street. It was revealed earlier today that Halifax branches could completely disappear from the UK high street, as Lloyd’s bosses are reportedly considering axing the brand entirely. It could result in Halifax closing on the high street after more than 170 years.

Halifax will reportedly stop taking on new customers, with existing ones will slowly be moved to Lloyds. The Sun reports that the transition is set to start on July 1. As it stands, there is no suggestion at this stage that Halifax’s 341 branches across the country will shut. However, it has sparked fears of more branch closures, with 31 Halifax branches already set to close this year, as well as 95 Lloyds branches. The BTU union, which represents 17,000 of the company’s staff, described the move as the “final nail in the coffin of branch banking”.

Much concern has been shared over the closure of bank branches across the country, especially when it comes to older and vulnerable banking customers.

Silver Voices, an independent, individual membership organisation for senior citizens in the UK, is supporting a petition opposing the trend towards app-only and online-only payment systems, stressing the importance of access to cash.

The group’s director, Dennis Reed, told the Daily Express that the government needs to take action to protect those who rely on cash.

“Instead of sitting on its hands, the Government must act to protect access to cash and stop the trend towards a cashless society,” he said. “More and more businesses are stipulating app-only or online only payments, which is creating a two-tier society, with pensioners and low-income families in the second-class tier.

“Legislation must be introduced to force businesses and public services to accept non-digital payments, including cash.”

Of today’s Halifax news, a Lloyds Banking Group spokesperson said: “We regularly look at the role our brands play in supporting our customers.

“Our banking customers can already use any Lloyds, Halifax or Bank of Scotland branch, and see any of their products or services in any of their apps – there are no changes for our customers today.”

Halifax has had a presence in the UK for almost two centuries. The Halifax Permanent Benefit Building Society was founded by a group of men in the eponymous West Yorkshire town in 1852, and grew to become the world’s largest building society, with assets of £47million, by 1928.

In 1997, it was converted to a public limited company. It then merged with the Bank of Scotland in 2001, before being acquired by Lloyds in 2009.