Santander announce closure of County Derry branch in sweeping network changes

High street lender Santander is to shut 95 of its UK branches, including one in County Derry.

The closures are part of an overhaul which will put around 750 jobs at risk.

In County Derry, the Magherafelt branch is earmarked for closure on June 24.

The Spanish-owned bank is also set to cut hours across 36 sites, and switch 18 to be counter-free.

Santander said it will be left with 349 branches after the sweeping changes.

SDLP MLA Patsy McGlone has expressed his deep concern over the announcement of the closure of the Santander branch in Magherafelt.

“Since 2020, over a quarter of the north’s high street banks have closed, cutting off access to vital services in communities, particularly our rural communities, and creating barriers to access, particularly for older people," said Mr McGlone.

“Whilst online banking is used by many people, it should complement physical branches rather than replace them. The worrying trend of branch closures is leaving communities isolated, and it’s clear that this shift is having a detrimental impact on residents who need in-person support.

“I’m also concerned about any possible job losses this will lead to.

“The SDLP has called for the government and regulatory bodies to do more to protect access to banking services as well as advocating for better alternatives, highlighting the impact that the loss of high street banks has in communities, particularly for older and vulnerable people who rely on the face to face service that bank branches provide. 

“At a time when fraud and scams are increasingly more common, the reassurance that many place in having a physical bank with staff to deal face-to-face with their issues, adds worry to vulnerable people who are more likely to be risks of financial crime, and it is essential this be addressed by banks and government alike.”