Report reveals 3,303 have shut down and hundreds of others have reduced opening times

More than a third of the UK’s bank branches have shut for good in less than five years, while hundreds of those that remain have reduced their opening hours, according to a report.

The consumer group Which? found there were 3,303 closures to the bank branch network between January 2015 and last month, as banks continued to shut branches at an “alarming rate”.

Which? said the closures were primarily driven by the “big four” banks – Royal Bank of Scotland Group, Barclays, HSBC and Lloyds Banking Group. RBS closed almost three quarters, or 412, of its branches across the UK, it said.

NatWest, which is also part of RBS, closed 638 branches, which is by far the most branches overall. These represented almost half of the bank’s branch network. Similarly Ulster Bank shut 35, or 44%, of branches that it used to operate in Northern Ireland.

Overall, the UK branch network has reduced from 9,803 to 6,549 in four and a half years, with the closures being offset by 49 branches opened by the challenger banks.

Of the UK’s bank branches that remain open, 298 are operating with reduced opening hours of four days a week or fewer, Which? found.

Of the big financial players, only Nationwide has retained an “impressive” 96% of its branches. The building society has pledged not to leave any town or city in which it is based without a branch until at least May 2021, Which? said.

Jenny Ross, money editor at Which?, said the closures risk shutting many people out of vital financial services and affecting their ability to access their cash.

She said: “Bank branches play a crucial role within communities, serving consumers and businesses alike. The industry must ensure no one is left behind by the digital transition and that when banks shut their doors, they don’t shut their customers out of important banking services.”

The charity Age UK said the rate at which banks were closing local branches was a huge blow for the millions of older people who rely on them, particularly those who are not online or confident with mobile banking.