The bank is to cut 48 Lloyds Bank branches and 18 Halifax outlets, between October 2022 and February 2023. The closures will include branches in England, Northern Ireland and Wales, in the fourth round of closures over the past few months.

At the start of next year, customers will lose access to Lloyds Bank’s 133 branches, Halifax’s 50 outlets and Bank of Scotland’s 19 branches.

Russell Galley, Director of Consumer Relations at Lloyds Banking Group, said: “Our customers have more choice than ever in how they bank with us.

“As our customers do more and more business online, visits to some branches have dropped by 85% over the past five years.

“In addition to our digital, online and telephone services, we will continue to invest in our branches, but they need to be in the right places, where they are used well.”

Lloyds previously announced that 28 outlets would close between August and November this year, while a further 60 locations would close between June and September.

READ MORE: Smart meter alert: Engineer shares ‘basic’ ways to save £40 a month on energy bills

Customers are turning to online banking to manage their money rather than visiting their local branch in person.

Despite continued closures, bank branches remain an important facility for UK cities.

Data from Post Office Data revealed around £110m more was withdrawn by UK businesses and individuals in June 2022 than in June 2021.

Research has found that people aged 65 and over rely on cash the most than any other age group.

David Beard, founder and CEO of comparison site, urged banks and building societies to maintain good customer service despite the closures.