OnTheWight reader, Pete Johnstone, has been in touch to explain that he’s just received a letter from Lloyds Bank announcing the closure of their Freshwater branch.
According to the letter, the decision was reached after a review of how customers use their branches on the Isle of Wight.
The bank will close its doors in mid-January 2019 and the cashpoint will also be removed.
A national trend
As reported in the past by OnTheWight, the move follows the national trend of banks closing in both urban and rural areas.
Nevertheless, Pete says that to lose the last bank in West Wight will be a blow to many people, particularly the less mobile and the elderly.
Alternative ways of banking
The bank’s own statistics state that the age profile of customers in the 75+ age who use the Freshwater Bank is 22%.
The letter states that Lloyds customers can use the Post Office – however the nearest branch is at the Coop which is some distance from the bank.
Call for support
Pete has written to the Freshwater Parish Council and Isle of Wight Conservative MP, Bob Seely, asking them to approach Lloyds bank to reconsider their decision, but it is likely the national trend of banks closing in rural areas will continue and last bank in West Wight will close in the New Year.
Image: © Pete Johnstone
