LLOYDS Bank has announced that one of its Gwynedd branches is to close in the new year following an “in-depth review”.

The branch, on Stryd Fawr, Pwllheli, will shut on January 12, 2023, after it was found that just 182 customers used it regularly in the 12 months up to March of this year.

The review also found that personal and business customers’ transactions at the branch have fallen by 48 and 44 per cent respectively in the last five years.

Lloyds wrote: “Like many other high street businesses, we’ve seen people using our branches less frequently in recent years as more customers choose to do most of their everyday banking online.

“We’re responding to the way our customers use our branches.

“We’ll continue to invest in our branch network, but we have to make sure our branches are where customers need and use them most.

“As a result, we've made the difficult decision to close this branch because customers are using it less often. In addition, the majority of customers are also using alternative ways to bank.”

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The nearest alternative for Lloyds customers is the branch in Caernarfon, 17 miles away.

But the bank added: “For a short period of time after the branch closes, we plan to have a Community Banker visit this area”.

Customers were also reminded that they can also use a Post Office for their everyday banking.

Plaid Cymru MS for Dwyfor Meirionnydd, Mabon ap Gwynfor, and MP Liz Saville Roberts have voiced their opposition to the plan.

Mr ap Gwynfor and Mrs Saville Roberts said: "This is just another nail in the coffin of face-to-face high street banking hitting communities right across Wales, at a time when many people can ill-afford to travel great distances to access their nearest branch.

"Nothing can replace walking into a bank branch and talking to someone across the counter.

"Despite the myth being peddled by high street banks that everyone banks online, people still want that personal contact, especially so the elderly.

"Lloyds' own data shows that of those using their Pwllheli branch, 37 per cent are aged between 55-74, with personal customers accounting for 90 per cent of branch use.

"Since many banks are intent on ploughing ahead with local branch closures, despite local opposition, every effort must be made to help local Lloyds branch customers in Pwllheli and surrounding communities to use alternative banking methods.

"This includes providing detailed information on internet banking and accessing bank services at the post office."

Plaid Cymru councillor for Pwllheli North, Elin Hywel, added: "As a community, we urge Lloyds Bank to reconsider this closure and recognise the important role and responsibility they have to this community and its residents.

"Local banks are more than access to money, our community life, our elderly and most vulnerable, and our young people will suffer disproportionately because of the removal of our local branches.

"And, once one bank closes, we know that all the others will race to avoid being the last branch in town.

"We’ve seen how businesses and our most vulnerable across rural Wales are being put at a serious disadvantage because of closures such as this.

"Access to banking services and cash in a way that suits us best should be our right."

The review in full can be found at: www.lloydsbank.com/assets/media/pdfs/branch-reviews/lloyds-pwllheli-branch-part-1.pdf.