Bank closures give cause for concern

W44824H14''Lloyds Bank North Road Lancing SUS-140311-163641001
W44824H14''Lloyds Bank North Road Lancing SUS-140311-163641001

FEARS are mounting high as residents could stand to lose their local bank following Lloyds’ announcement to close 150 branches across the UK.

Last month, the popular high street bank released its strategic update report which states the company’s intention to make a ‘net reduction of 150 branches’, but promises that customers will still be within five miles of a major bank.

Although it is yet to be decided which branches are to close, many Lancing and Sompting residents and businesses have shared their concern on Facebook over the potential loss of Lancing’s branch in North Road.

The report states: “We are committed to maintaining or growing our share of branches and will optimise our network by consolidating mainly urban branches in overlapping locations. We anticipate this will lead to a net reduction of about 150 branches.

“Over 90 per cent of Lloyds and Bank of Scotland customers will continue to have a usable branch within five miles of their home.”

However, resident Jan Halls posted on Facebook’s ‘Sompting Residents Page’ that banking has been ‘hell’ for her.

Mrs Halls said: “Since NatWest closed in Lancing, my life regarding banking has been hell.

“It’s all very well to say we have online banking (as someone told me when I complained) but money such as cash and cheques still has to go into accounts.”

Debby Reeves Rowland said: “A lot of older people do not do online banking and for them, my mother included, it would be hard work involving carers or family.”

Lloyds was approached to comment on its latest strategic report but did not provide a response in relation to the 150 closures.

The report also states that it will expect to lose 9,000 full time jobs by 2017.