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Hundreds more bank branches have either closed or are set to close this year, with London and the South East the hardest hit.

Data from ATM provider Link shows that a total of 636 bank branches are due to close by the end of this year, with 424 shut so far. An additional 36 branches, mainly Halifax and Lloyds, are closing in 2024. 

London has already lost 61 bank branches since January, with another 41 marked to close by year’s end. Communities in the South East have seen 70 branches shuttered, with 28 more set to disappear in the coming months.

Around 70 bank branches will close in the East of England this year, according to Link, with the South West set to be heavily hit as 82 close their doors. 

The Government and financial regulators have piled pressure on banks to ensure customers have free access to cash amid the flurry of branch closures. 

Last month ministers announced that banks will be forced to provide customers with free access within three miles of their homes. The Financial Conduct Authority warned banks that branches cannot be closed unless “additional cash services” are available.

Analysis from consumer group Which? shows 735 bank branches shut across the UK in 2021, and 662 closed last year. 

The group estimates that after this year’s closures, there will be just over 4,000 bank branches left across the country, with 5,600 having closed since January 2015.

It claims there are now 21 parliamentary constituencies without any permanent bank branches, while a further 42 are down to their last branch.

Last September it was announced that Link, the Cash Action Group, and banking representatives would roll out around 80 shared banking hubs across the UK. 

These hubs would be run by the Post Office and have deposit and cash facilities from multiple banks.

But as branches quickly disappear, the initiative has been branded “too slow” by Which? as only seven of the hubs have been opened to date. 

Sam Richardson of the group, said: “These figures show how the number of bank branches and free-to-use ATMs has plummeted in recent years, leaving the most vulnerable people in our society cut adrift from vital in-person services.

“Initiatives such as banking hubs and enhanced Post Offices may go some way to plugging gaps left by shuttered branches but they need to be rolled out much more quickly.” 

Banks have also promised to fill gaps left by branch closures by installing 67 automated shared deposit services in some locations across the country. However, none have yet opened. 

Since 2015, Natwest has closed more branches than any other operator, shutting 1,147 outlets when its RBS brand is included. Barclays has scrapped 962 and Lloyds 629.

Banks have blamed closures on a lack of demand amidst the rise of Internet and mobile banking, but consumer campaigners have said that disappearing high street branches are increasingly isolating the elderly in rural areas.

Cat Farrow, chief operating officer of Cash Access UK, said: “We have seven hubs up and running and they’re already having a big impact on communities by bringing back cash and basic banking services to residents and small businesses.

“More hubs have been recommended and we’re busy finding locations, negotiating leases, and refitting buildings. A number of hubs are now being fitted out and are on track to open before the busy Christmas season, including the first hubs in Wales and Northern Ireland.”

There has also been a notable decline of free-to-use ATMs in recent years, according to Which? data.

In June 2023, there were 14,396 fewer free-to-use ATMs in the UK than there were in August 2018, a decrease of over 27pc.