THE CLOSURE of the Lloyds bank branch in Caernarfon has been called a “nail in the coffin” for the town.

The Lloyds branch, at 15-17 Pool Street, is set to close on April 30, 2024, one of 66 branches the banking giant is closing after claiming customers are using them less.

The Lloyds banks in Pwllheli and Holyhead were closed in January 2023.

However, banking giant will provide a ‘community banker’ to support customers after the branch closes.

The closure leaves the closest Lloyds in Bangor, around 20 miles away.

Arfon MP Hywel Williams and Arfon MS Sian Gwenllian slammed the move and said nothing could replace in-person service for many customers.

In a joint statement, they 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.

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"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.

“Since many banks are intent on ploughing ahead with local branch closures, despite local opposition, every effort must be made to help Lloyd's branch customers in Caernarfon and the surrounding area to use alternative banking methods, such as providing detailed information on internet banking and accessing bank services at the post office.

"Lloyd's has very long association with Wales and a fine record of service to rural areas. This makes this decision all the more disappointing."

In a letter to the MP, Lloyds said: "Many customers now choose to bank online or through their mobile app, and visits to our branches have fallen over recent years.

“The Post Office offers everyday banking and customers can also bank with us online, over the telephone or via our mobile app.

"We have nearly 18,000 customers in your constituency and only 77 people are using this branch on a regular monthly basis. As a result, we have to respond to this changing behaviour.

"Before reaching this decision, we carried out a thorough assessment of the alternative services that are available and how our customers are banking with us.

“All customers who regularly use the branch will receive a letter with details of other ways they can bank with us.

“As part of this process, we will try to speak to customers who only use the branch to explain the alternatives that will be available to them.

"Our colleagues who work in the branch will be offered the chance to move to a role at another branch or another part of our business."