MP ‘disappointed’ by news that Horncastle will lose its last bank
Local MP Victoria Atkins has criticised the decision by Lloyds Bank to close its branch in Horncastle in August this year.
The Member of Parliament for Louth & Horncastle has reacted to the latest announcement with disappointment at what will be the closure of the last bank in the town on August 10 this year.
A Lloyds spokesperson said: “We’re contacting customers to let them know about the alternate local banking services available.
“We will keep the branch open until any industry-recommended solution is delivered by Cash Access UK, therefore closure dates are subject to change.”
Speaking about the news, Ms Atkins said: “I’m very disappointed at the decision of Lloyd’s Bank to close their Horncastle branch from August. As the final bank in the town, this is a big blow and I am going to be pushing for a new Banking Hub to try and replace the services that the banks have eroded.”
Ms Atkins said: “I will also be speaking directly to Lloyd’s to see how individual customers without access to mobile or online banking will be served going forwards.”
There are so far five Banking Hubs in Lincolnshire, with the latest two opening last month in Sleaford and Brigg.
The hubs are set up by Cash Access UK on behalf of the main big banks and generally operated by local postmasters for people to do their day to day cash banking and see bank advisers on more complex matters on a rota basis.
Only last year the High Street branch was temporarily closed after a ram raid using a telehandler damaged the premises, but anecdotally residents have noted the branch being busy with queues for service. Barclays also announced they were stopping their personal banking hub based in the town’s library due to lack of use.
Mayor of Horncastle, Coun Mike Beecham was “saddened” by the proposed closure but was not surprised, adding: “It is a bad day for Horncastle.”
He commented: “When I first moved here there were four banks in the town and now we are likely to have none.”
He accepted many people use card payments but still prefer to keep a little cash on them.
"But it is not just about personal banking,” he said. “Local businesses still use the bank. What will they do with their cash and takings?”
He said it will have an impact on local traders through reduced footfall. “People will probably go to Boston or Skegness or Lincoln to do their banking and will do their shopping while they are there. People will go where it is most convenient,” said Coun Beecham, who hoped to discuss the matter at the next council meeting.
He said the town still has a Post Office for basic cash handling, but will need a Banking Hub with representatives of all main banks involved on a rota to help with more complex banking issues
The Lloyds spokesperson said: “Customers want the freedom to bank in the way that works for them and we offer more choice and ways to manage money than ever before. In addition to our app, customers can use the local Post Office or walk into any Lloyds or Halifax to manage their money and deposit cash at PayPoint locations. We're giving our customers the flexibility to bank wherever and whenever they need us.”
They said that mobile banking gives people 24/7 access to their finances. “We use some of the latest technologies and systems to help keep our customers and their money safe. Our apps are also compatible with standard device screen readers.”
Customers can also use online, telephone banking and free-to-use ATMs.