Looe is set to lose its last mortar bank as Lloyds push on with the closure of its local branch later this month.
Over the last six months, news of closures on our high-streets has become a regularity, particularly news surrounding banks, as companies look to move their business online. The most recent closure will see Looe lose its Fore Street branch of Lloyds.
Back in August, Lloyds Bank announced that Looe’s final mortar bank would be closing its doors, citing that “75% of customers using the Looe branch have also used other Lloyds Bank branches, Internet Banking or PhoneBank.”
Lloyds also state that only “95 of our customers used the branch regularly in the last 12 months to March 2022.”
On top of this, the company explain that transactions in branch have fallen by as much as 60% since 2017, while cashpoint transactions have risen by as much as 90% in the same time.