22 May 2024

Bank closure put back

The date for the closure of the last remaining bank branch in Withernsea has been pushed back six months.

In April, it was announced that the town was set to receive a new banking hub after Lloyd’s Bank announced the closure of its Queen Street branch.

Originally, the bank was set to close on September 12, but after a consultation this will now happen on March 27, 2024.

According to a review published by Lloyds, the closure is because of a decrease in customers using the branch.

The report said: “Like many other high street businesses, we’ve seen people using our branches less frequently in recent years as more customers choose to do most of their everyday banking online. We’re responding to the way our customers use our branches.

“We’ll continue to invest in our branch network, but we must make sure our branches are where customers need and use them most. As a result, we’ve made the difficult decision to close this branch because customers are using it less often. In addition, many customers are also using alternative ways to bank.”

The provisions in Withernsea will be taken over by LINK, a not-for-profit organisation that assesses the need for banking spaces within communities. It will create a banking hub that is a shared banking space, like a traditional bank branch but its services will be available to customers from a network of banks as opposed to one.

The hub will consist of a counter service that will be operated by Post Office staff, where customers of any bank can withdraw and deposit cash, make bill payments, and carry out regular banking transactions.

In addition, there will be private spaces where customers can speak to someone from their own bank about more complex issues. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.

All the major high street banks are part of this arrangement – and many bank and building society customers will be able to use the counter service at the hubs and get advice, support and information about banking matters.

Beverley and Holderness MP Graham Stuart said: “I was delighted to receive confirmation from Lloyds that their branch in Withernsea will remain open until March 2024, which is when the brand-new banking hub is scheduled to open in the town.

“It is vital that every person and business in Withernsea has access to banking facilities that are high quality and easy to access, and I will continue to work with the dedicated South East Holderness councillors to ensure this is the case.”