A large Welsh town is set to lose its last bank later this year in a decision described as "disappointing and short-sighted". The Ystradgynlais branch of Lloyds, located along Commercial Street, will close on September 19. It comes as the bank says branch transactions at the Ystradgynlais branch fell more than 67% between 2017 and 2022.
It means banking services will be reduced to the nearby Post Office, which is a two minute walk away at 30 Brecon Road, and offers personal and business customers everyday banking services, access to cash, paying in of cheques, and more. The nearest free-to-use ATM is just less than a mile away (0.95 miles), and there are four free-to-use ATMs within three miles of the closing branch.
Politicians have urged the bank to reconsider the decision, but Lloyds has said 74% of its personal customers already use other ways of banking, such as over the phone or internet banking. It follows the closures of other banks in the area, including Barclays in October, 2018, Get stories like this straight to your inbox with our newsletters.
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Mid and West Wales Senedd Member Jane Dodds said: “This decision will see yet another Powys town left without a bank. This time it isn’t even one of our smaller villages but the second largest town in the entire county with a population of over 8,000.
"This trend cannot continue, banks need to recognise they have a duty to provide in-person services. Not everyone uses online banking, particularly in rural areas like Powys. I will be requesting a meeting with Lloyds Bank urgently to make my views known and raise the concerns of my constituents."
And Brecon & Radnorshire Parliamentary Candidate David Chadwick added: “This is a disappointing and short-sighted decision by Lloyds that they should urgently reconsider. Just last month the bank reported it had almost doubled its profits to £1.8 billion. Banks like Lloyd’s should show some loyalty to customers in rural areas who contribute to their operations. All these banks have diversity and inclusion policies, yet none seem to consider the elderly or digitally excluded in them.
A Lloyds Bank spokeswoman said: “Visits to our Ystradgynlais branch have fallen over recent years, as many customers now choose to bank digitally. When the branch closes in September, customers can use the local Post Office for everyday banking which is a short walk away, access cash at the free-to-use ATMs less than a mile away, alongside other ways to bank such as over the phone and online.“
Lloyds said customers could use any Lloyds Bank branch for their banking, alongside other options such as the Post Office, online, mobile and telephone banking. It added that in the run up to the branch closure, branch staff would be on-hand to offer support and guidance on the alternative ways customers could bank.
After the branch closes, Lloyds has said it will have a community banker visit the area, who will continue to offer face to face support for as long as the community needs it. It added that it would discuss with local communities which locations would be appropriate for the community banker to set up in, and on which days.
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