Lloyds Bank is closing branches at Chatteris and Soham as part of 49 going nationwide

PUBLISHED: 16:07 05 September 2018

Lloyds Bank, Chatteris, is due to close.

Lloyds Bank, Chatteris, is due to close.

Archant

Two rural high street bank closures has prompted a business leader to slam the decision saying it is a death knell for the local economy.

Lloyds Bank, Soham, is due to close.Lloyds Bank, Soham, is due to close.

Lloyds Bank is pressing ahead with the closure of branches in Chatteris and Soham in October.

Chatteris branch had 70 customers use the branch on a regular weekly basis, with 486 customers on a regular monthly basis. Customers must now travel to March or Ely.

Soham had 43 customers on a regular weekly basis and 521 on a regular monthly basis. Their nearest branch is now Ely or Newmarket.

Alan Todd, Federation of Small Businesses (FSB) area leader for Greater Cambridge, said: “The rapid pace of bank branch closures including the latest two in Chatteris and Soham, is hurting businesses all over the county.

“Hundreds of our members regularly use branches to deposit and withdraw cash, access advice around new finance and receive in-person support when online banking services crash.

“We are getting to the point that there will be no bank branches out of large towns and cities and this is having a devastating effect on the high streets of our market towns and villages.

“On top of that, we are also losing cash points since LINK announced cuts to cash machine funding a few months ago.

“This squeeze on banking services and free access to cash means less footfall on our struggling high streets and less cashflow in local economies. A spokesman for Lloyds Bank said: “We are constantly transforming our branch network as we reflect changing customer demand for branch transactions and service.

“Sometimes this will mean we make the difficult decision to close branches. When deciding to close a branch, we take a number of factors into account to help us understand the impact on our customers and the local community – including ways for customers to continue to access banking services.

The local branch closures are two of 49 being shut nationwide and will affect a total of 1,230 jobs.

In 2011 Lloyds Bank had 2,900 outlets. Following the latest closures there will be 1,750 branches.

Like other banks Lloyds has been reducing the size of its network as customers have switched to online and telephone banking.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ely Standard visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ely Standard staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ely Standard account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More news stories

A police chief says putting poppies on some of their cars into the run-up to Remembrance Day “is not a glorification of war”.

10:05

Three people were treated for ‘minor injuries’ last night after a lorry rolled on top of a car on the A141 Isle of Ely Way between March and Chatteris.

16:55

A Wilburton man accused of sexually assaulting three schoolgirls has dismissed the allegations as “pure madness and fantasy”.

13:11

Cambridgeshire County Council has decided against supporting the People’s Vote campaign for the public to have a say on the final Brexit deal.

Most read stories

Digital Edition

Image
Read the Ely Standard e-edition E-edition

Show Job Lists

Newsletter Sign Up

Ely Standard weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy