Lloyds Bank Announces Closure of its March Branch in Cambridgeshire
Key Highlights :
Lloyds Bank has announced the closure of its branch in March, Cambridgeshire, at the end of this year. The company confirmed the news in a statement issued to customers, citing a rapid decline in footfall and in-person visits as the reason for the closure.
The March branch, located on High Street, will shut its doors for good on October 18. This means that customers will need to visit either the Wisbech or Peterborough branches for their banking needs. The announcement has been met with disappointment from customers who have used the branch for many years.
A Lloyds spokesperson said: “The world is becoming more digital than ever before and more of our customers are doing their everyday banking online. With more customers choosing to use digital ways to bank and manage their money, visits at this branch have fallen. As a result, we’ve made the difficult decision to close it.”
The bank found that 286 customers used the branch regularly in 12 months to January 2023, and 74 per cent of customers using the branch also used other Lloyds banks, internet banking or PhoneBank. Lloyds is encouraging customers to use digital banking options, such as online banking, mobile banking, and phone banking.
The closure of the March branch is part of a wider trend of banks shutting branches across the UK. In Cambridgeshire alone, nine banks have either closed or are about to close. This is due to a rapid shift towards digital banking, with customers favouring the convenience and accessibility it offers.
Lloyds is also introducing Community Bankers to the area, who will provide support and guidance on the ways customers can bank with the company. This will ensure that customers are still able to access the services they need, even without a local branch.
The closure of the March branch is a sign of the times, as more and more customers are choosing to do their everyday banking online. While it is a shame to see a local branch close, it is important to ensure that customers have access to the services they need.
