CUSTOMERS have reacted with dismay to the news that Lloyds bank is planning to close its branch in Wellington’s Fore Street.
As the last of the town’s banks, the area will be left without any high street branches when it shuts in September.
Confirming the closure, a spokesperson for Lloyds said: “Visits to our Wellington, Somerset, branch have fallen over recent years, as many customers now choose to bank digitally.
“When the branch closes, customers can use the local Post Office for everyday banking which is less than a mile away, access cash at the nearby free-to-use ATMs, alongside other ways to bank such as over the phone and online, or the new Banking Hub once it is up and running.”
Deputy mayor Nancy Powell-Brace, who runs Odette’s Tea Room on High Street, described the news as ‘devastating.’ She said: “I wish they’d have admitted it months ago so we could have planned. It’s devastating.”
She said the closure would be ‘another nail in the coffin’ for the town centre, and added: “I think it’s dreadful news for the town.
“To me the message is that we’re not worth a bank, or a post office, as a town. It’s saying Wellington doesn’t matter enough, and that is very sad, it’s very sad.
“We’re struggling enough to keep the town centre alive without that bad news.”
![Nancy Powell-Brace Wellington deputy mayor Odette's tea room](https://www.wellington-today.co.uk/tindle-static/image/2023/03/23/13/WWN%20Nancy%20Powell-Brace.jpeg?trim=78,15,72,0&width=669&height=445&crop=669:445)
Wellington town councillor Andrew Govier expressed his disappointment at news of the bank closure.
He said: “I’m very shocked and disappointed. It’s the last bank in the town and it has been an important institution for its historic relationship to the Fox family.
“It always seems very busy in there, I’ve got an account there and I’ve also got some charity accounts that we use in there. It’s a blow to the town.
“It will have an impact on a lot of people, particularly the elderly who perhaps rely on face to face banking more than the modern generation where there’s a lot of online banking.”
The mayor of Wellington, Mark Lithgow, said: “I am saddened that the last bank in Wellington has now announced that it will be closing. Whilst saddened, I am not surprised after reading the statistics about branch usage, which has dropped dramatically over the last few years.
“I am aware that this closure will be very distressing for some customers who rely on a physical bank to have access to their money and local businesses who need to deposit their takings.
“The town council are extremely concerned about this closure and will be looking into what options will be available going forward.”
Ben Fox, a fifth generation descendent of bank founder Thomas Fox said: “It’s inevitable that that’s the way modern banking is going, I use very little cash myself and the business banking is done through a mobile phone, it doesn’t need a huge branch anymore.
“But I also get the fact that for a small town like Wellington it’s really sad and a problem for a lot of people who still use a high street bank and might now have to go to Taunton.
“Although it’s a sad day for banking, I’m surprised it hasn’t happened sooner. The banking ombudsman should have seen this coming and told the banks they can’t just walk away from these towns that they have done really well out of.”
A Lloyds bank customer who wished to remain anonymous said: “It’s shocking news, but unfortunately it’s not completely unexpected because Lloyds have not been giving the best service to the town for quite some time.
“There have been long periods where they’ve been shut for one reason or another, and out of hours access to the ATM has been limited.
“It will be a big blow for elderly customers in particular, I know a number of people who aren’t online, and they like to go into the branch and speak to somebody in person.”
When news of the closure broke, many residents took to social media to express concern. In a Facebook group for Wellington residents, Elena Veysey said: “Soon there will be nothing left in Welly for those who can’t drive or are less mobile. Very sad.”
Helen Murray said: “How can a town the size of Wellington not have a bank or a Post Office? This makes no sense.”
Catherine Acreman said: “There’ll be nothing left soon, apart from hairdressers, cafes and charity shops.”
The closure of Lloyds bank will bring to an end more than a century of history of banking from the building.
The Fore Street bank was built in 1885 by Fox Brothers, and was the last private bank in England to issue its own banknotes before it was acquired by Lloyds in 1921.
Following the announcement of the closure, the LINK cash machine network announced the creation of a new banking hub for the town.
The hub will be a counter service run by Post Office staff at which customers with any bank can deposit, withdraw, or transact their money.
Chris Ashton, Head of Banking Services at LINK said: “We know the way we pay for things and bank is changing. Yet not everyone is able to bank online or use digital payments. Many consumers and small businesses still rely on face-to-face banking and cash. That’s why we’re pleased to confirm Wellington has been selected for a banking hub.”
A location for the new hub is now being sought. The closure will be the subject of an urgent item at a meeting of Wellington Town Council on Monday. Dave Farrow, the Town Clerk, has offered the council’s support in setting up the new bank hub replacement service.