Newsroom
Lloyds Banking Group is shutting 136 more branches across the UK, continuing a long trend of high street bank closures. The move, affecting Lloyds, Halifax, and Bank of Scotland locations, is part of a shift toward digital banking, with the bank citing declining in-person transactions as the reason. Since 2015, more than 6,000 bank branches have disappeared, leaving many communities—especially rural areas—without local banking services.
For British expats in Cyprus, particularly retirees who rely on UK banks for their pensions and financial transactions, this is another blow. Many still keep their UK accounts active for receiving payments, transferring money, or handling savings. With fewer branches, accessing in-person services will become even harder, and resolving banking issues could mean long wait times for telephone support or navigating online banking systems—which isn't always easy for those less familiar with digital platforms.
The shift away from physical banking also raises concerns about international transfers and cash withdrawals. Retirees who prefer handling finances in person may face delays, higher fees, or limited access to UK-based financial services while living abroad. While the banks argue that digital banking offers more convenience, for older expats in Cyprus, these closures may feel more like a loss of security and accessibility rather than an upgrade.
*With information from Sky News
