A MAJOR high street bank has revealed the date it will close a town’s last branch – leaving locals in despair.
Lloyds Banking Group has confirmed it will close the town centre site in less than a year.
The bank will shut its branch in the port town of Woodbridge, Suffolk, on June 25 next year.
However, the site will be replaced by a new banking hub, with cash machine operator LINK installing a shared service.
The hub, run by Post Office employees, will allow locals to continue to have a location to withdraw and deposit cash.
Customers will also be able to use the banking hub to pay bills and carry out regular transactions, East Anglian Daily Times reports.
It comes as The Sun exclusively revealed last week that Lloyds is closing more than 60 locations between October this year and June 2025.
The banking giant is closing 28 Lloyds Bank branches while 17 Halifax locations will shutter and 15 Bank of Scotland sites.
Lloyds says the use of the 60 branches had fallen by to an average of 52% from 68% over the last five years.
Chris Ashton, chief commercial officer at LINK, said: “We’re pleased to recommend this new hub in Woodbridge.
“Many people locally still need cash and this hub will play a crucial role in helping them access it on the High Street.
“We’re determined to make sure that, as we all choose new ways to pay, people who use cash in places like Woodbridge have the benefit of a convenient, accessible location to access and deposit cash on the high street.”
Lloyds says 19million of customers now use its banking apps.
A spokesperson said: “Mobile banking is more popular than ever with over 19 million customers choosing our app to manage their money.
“Alongside our app, customers can bank online, over the phone, at a Banking Hub, a Post Office or by speaking to one of our Community Bankers.”
All employees who work at the 60 branches earmarked for closure will be offered alternative roles at another branch or in another part of the business.
But locals in Woodbridge have revealed their frustration over the bank closure, claiming their town is “dying a slow death”.
One said: “Our shops, the little that are left, are all closing too.”
Another added: “The banks are insisting that customers do online banking. Many don’t have smart phones or can’t handle technology.
“They’re used to going into the bank or post office. It gives them a reason to come out, meet people, have a coffee and chat and do some shopping.”
Lloyds
Halifax
Bank of Scotland
