Branch closure leaves Welsh Valley without a single bank
Lloyds Bank has announced the closure of the last remaining bank in a Welsh Valley.
Previously Lloyds had used the presence of its branch in Pontardawe to justify other closures.
However, they have announced this week that the bank in Pontardawe will close for good in November.
Key hub
With a population of over 7,000, Pontardawe serves as a key hub for surrounding rural communities.
Many residents, particularly the elderly and digitally excluded, rely on in-person banking.
The closure follows a wider trend of banks withdrawing from rural areas, forcing customers to travel long distances for basic services.
The entire Swansea Valley, with a population of over 25,000, will now not have a single bank.
‘Disgraceful’
Liberal Democrats MP for Brecon, Radnor and Cwm Tawe David Chadwick is urging Lloyds to rethink its decision.
David Chadwick said: “This is a disgraceful decision from Lloyds. The entire Swansea Valley will now be left without a bank. That is a huge blow to the over 25,000 people living in the area.”
“High-street banks are treating their customers appallingly despite making billions of pounds in profit and Labour are failing to reign in the big banks and cooperate greed.
“Banks claim to support inclusion, yet they ignore those who need in-person services the most. They have a duty to serve their communities, not just their shareholders.”
Mr Chadwick said he has already submitted an application to LINK for a banking hub in Pontardawe, alongside a previous application for Ystradgynlais.
“These hubs would provide essential cash and banking services to residents and businesses affected by the closures,” he added.
Lloyds cited changing consumer habits as the reason for closures across the country, with more costumers choosing mobile or online banking as opposed to physical.
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Corporations and big PLC business is the devil in our society. It is the route cuase the local decline. They sold us the dream by using the phrases, “cheaper prices”, “more jobs to the area”, “better choice” and “better service” But just look in your local area to see the devastation that these big business have done. Supermarkets replaced countless private grocers, butchers, hardware store, clothes shops in our high streets axing 100s of jobs to only create 10s of jobs. All of those profits leave the area and go to central offices. Amazon boost of next day delivery, well… Read more »
I agree, now without banks in the valleys people are being left behind. I can’t get access to my money at present as Barclays are having online issues, I can’t pay with my card, can’t access cash at a cash point and definitely can’t go to a bank to get out my money. All the bank closures are not in the interest of the general public, so the financial ombudsman should make them keep some bank open at all costs.
You can use post offices instead, loads of them now in shops open till late
Post offices have gone the same way as banks. How many rural communities have been able to hold onto them?
It is this issue of bank closures by banks with head offices outside Wales that we need our own financial industry based in Wales. Until we have a government that really works for the people of Wales to mandate that we can must have control of our own financial, taxation, and treasury system we need to strengthen the mutual banking system. That is where the Principality Building Society could fill the vacuum. The PBS could move into current account banking and bank cards. Unfortunately, it hasn’t so far. I may well have joined as a member if they have. Principality… Read more »
No point blaming big business. They run the same as small business and the self employed….it’s all about the bottom line. If you can cut cost to make more money you will do it. They aren’t sentimental about the High Street. Why should they be? Offices cost money…lots of it, and more and more of us are banking online and can use the Post Office to pay in cash etc. It’s a crying shame that we are losing so much of what we liked about our High Streets, but if we the public shop out of town and bank online… Read more »