The town of Larne is set to lose its last remaining bank branch as Santander announces plans to shut down 95 branches across the UK, putting 750 jobs at risk. The closure, expected later this year, is part of a broader shift towards digital banking, with Santander citing a rapid increase in online transactions.
A Blow to the Community
For many Larne residents, the bank’s closure represents more than just the loss of a financial institution—it marks the end of an era for in-person banking services in the town. The nearest physical branches will now be located in Newtownabbey or Ballymena, a significant distance for those who rely on face-to-face banking.
Barry Mills, a local resident, expressed concern about how elderly customers and individuals with learning difficulties will adapt to these changes.
“How are people meant to cope? Many older individuals and those with disabilities depend on in-person banking for their financial needs,” . Mills also lamented the loss of familiar bank staff, who had provided a sense of community and trust over the years.
A Banking Hub to Fill the Gap
To address concerns over accessibility to financial services, LINK, the UK’s cash access network, has announced plans to establish a new banking hub in Larne. These hubs function similarly to traditional bank branches, providing essential services such as cash withdrawals, deposits, and bill payments through the Post Office. Additionally, rotating bank representatives from different institutions will be available on designated days to assist with more complex transactions.
Dr. Chris Ashton from LINK emphasized the importance of maintaining cash and banking access for local communities. “While digital banking is on the rise, we recognize that many people still rely on cash and face-to-face banking services,” he said.
Larne will be the seventh location in Northern Ireland to receive a banking hub, following similar initiatives in Ballynahinch, Comber, Kilkeel, Newcastle, Portrush, and Warrenpoint.
Concerns Over Economic Impact
Despite the planned banking hub, many residents remain apprehensive about the economic consequences of the closure. Frequent Santander customer Janice Wylie voiced her concerns over job losses and the broader effects on Larne’s struggling economy.
“Larne’s Main Street is already in decline. Losing the last bank branch is another setback,” she said.
Similarly, Clive Burns, a Magheramorne resident who often uses the Santander branch while in Larne, expressed uncertainty about whether the banking hub would be an adequate replacement. “We’ll have to wait and see how effective it will be,” he remarked.
A Growing Trend Across the UK
Larne is just one of many towns across the UK facing the disappearance of physical bank branches. With Santander exiting the town, Larne joins a growing list of communities where online banking is taking precedence over traditional services. Other Northern Ireland towns affected by Santander’s closures include Armagh, Strabane, Magherafelt, Downpatrick, Dungannon, and Portadown.
While digital banking is undoubtedly convenient for many, the question remains: can alternative solutions like banking hubs truly replace the value of full-service branches? For the people of Larne, the transition may be challenging, but they remain hopeful that the new banking hub will provide some relief.