TSB announces full list of 2023 bank closures

The so-called ‘silent generation’ are being forced to consider alternatives as traditional bank branches are closing in their area.

Of those aged 74 and over who said they have already, or plan to, open a digital-only bank account, 53 percent said the reason for doing so was due to a lack of branches in their local area.

The impact of physical bank closures on the older generation is palpable, and many have had to adjust to online and digital banking.

Kate Anderson, banking expert at finder.com, said: “This year, we can really see the impact that high-street branch closures are having on the banking market, particularly for the older generations.