Halifax to close branch network

10 February 2010
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It comes as no surprise that Halifax are closing their branch network.This is terrible news for 750 employees within the branch network who will now lose their jobs.

Opening these branches always seemed like a strange move and the decision to close would probably have come even without the economic downturn.Ireland is well served by a huge network of Bank branches and unfortunately we expect to see further rationalization across the existing branch network of major Banks,

Customers are more and more turning to the internet when choosing financial products and this trend will accelerate over the coming years.Some lenders will introduce non cash branches but with a limited range of products this too may prove a difficult path to follow.

It is estimated that there are between 35000 and 50000 current account holders with Halifax and this base is attractive to other hight street service providers.

Mortgages.ie will shortly be launching our www.currentaccounts.ie website which will provide an analysis of the merits of competing current accounts offered by lenders.