Hadleigh Lloyds bank closure branded ‘very bad news’

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A TOWN is set to lose its last remaining bank after Lloyds announced widespread branch closures across the UK.

The London Road branch, Hadleigh, is among 20 that will close later this year due to falling usage.

This means that the nearest bank to town will be the Lloyds branch on Rayleigh High Street, three miles away.

Lloyds Banking Group said the continued rise in online transactions was another contributing factor to the shutdown.

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Godfrey Isaacs, Conservative councilor for St James ward, which includes Hadleigh, admitted the news was a blow to some residents.

He said: “This is really bad news.

“I personally opened an account 18 months ago.

“It’s the last bank standing in Hadleigh, so it’s not good for the town center either.

“The banking industry is totally internet dependent, however, HMRC, DVLA and businesses are still sending checks to people.

“It is impossible to rely completely on card processing, we always use cash, checks and savings.”

Mr Godfrey fears the closure, scheduled for September, will be particularly difficult for older customers.

He added: ‘It will also have an impact on the elderly as they have been brought up in the high street settlement.

“It’s not good as Hadleigh had five major banks at one time, and I would have to imagine the majority of our residents will be concerned about this closure.”

Lloyds said it is prioritizing “best placed” branches as it adapts to the internet-driven world.

He added: “It remains true that online and mobile banking continues to grow, as branch usage declines.

“On average, visits to these branches have fallen by 60% since 2016, when we now have 18.6 million regular online banking customers and more than 15 million mobile app users.

“Each of these locations has a free ATM and post office, less than a mile away.

“As with all proposed closures, these plans have undergone an independent cash access assessment by LINK, with no improvements required.

“We aim to support all impacted colleagues, who wish to remain in the group, a transition to a new role.”

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