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More bank branches set to be axed

Wednesday, 28 February 2024 10:28

By Chris Collman

Three more Devon branches are set to be axed in the coming months

In January alone, 12 major bank branches shut across the country, with another 38 scheduled to close by the end of February. These closures are part of a broader trend, with 245 banks scheduled to shut their doors in 2024. Additionally, six more branches are marked for closure, though specific dates have yet to be confirmed. Looking ahead to 2025, the closure of 15 banks has already been announced.

The prospect of these closures is raising concerns, particularly for older residents in rural areas who rely on face-to-face banking services. Age Concern, has called for a pause in closures while more banking hubs are established. Of particular worry is the fact that 89 of the impending closures will leave surrounding communities without access to any alternative bank branches.

In Devon, the impact of these closures is already being felt. A Lloyds branch in Plymouth closed its doors in January, and another is scheduled to shut down in Sidmouth next month. Two more closures, both Lloyds branches, are set for April and July, further reducing local banking options.

The three Lloyds branches due to close locally are 

39 High Street, Sidmouth
19-20 Wellington Street, Teignmouth
30 High Street, Crediton

 

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