Friday, November 22, 2024

Major banking group announces closure of Norfolk branches

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The Lloyds Banking Group announced that the Halifax and Lloyds Bank branches in Thetford and the Lloyds branch in Fakenham will close next year. 

The high street banking giant will close 55 branches nationwide as more people move to online banking. 

Lloyds Bank has announced the closure of two branches in Norfolk (Image: Joe Giddens/PA Wire) The Thetford Halifax branch will be the first to close on February 4.

The Lloyds Fakenham branch in Norwich Street will close on May 6, while the King Street Thetford branch will shut on May 13.

A Lloyds Banking Group spokeswoman said: “Mobile banking is more popular than ever, with over 19.5 million customers choosing our app to manage, maximise and understand more about their money.

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“Alongside our app, customers can bank online, over the phone, at a Banking Hub, a Post Office or by speaking to one of our community cankers.

“All locations announced for closure have alternative options for accessing cash nearby, such as a Post Office, or free-to-use ATM.”

In the Waveney District, Beccles will also lose their Lloyds town centre branch on May 6. 

All three towns have Nationwide Building Society branches All three towns have Nationwide Building Society branches (Image: Denise Bradley) The four branches were the last remaining banking branches in Fakenham, Thetford and Beccles, which are all left with a Nationwide Building Society branch. 

Community bankers are able to visit a dedicated space in a community venue and while they offer some banking services and account support, they don’t offer cash or counter services. 

The Post Office can be used to perform basic banking tasks but not to open new bank accounts or take personal loans and mortgages.

Data from the Office for National Statistics revealed the number of bank branches across the UK fell from 14,689 in 1986 to 5,745 in 2023.

The closures have led to new guidelines from the Financial Conduct Authority which will come into force on September 18.

Banks will have to assess the impact on access to cash when making changes such as closures and if necessary, deliver additional services, keeping facilities such as branches and ATMs open until the services are available.

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