Lloyds Bank criticised for ‘disappointing’ response to concerns over closure of last branch in Welsh Valley

Lloyds Bank’s response to concerns about the planned closure of its last branch in the Swansea Valley has been described as “deeply disappointing” by an MS who is fighting to get the decision reversed.

Lloyds announced the closure of the branch in Pontardawe in February despite having previously used its presence to justify other closures in the surrounding area

Plaid Cymru MS Sioned Williams met with the bank last week following a local campaign opposing the threat of closure, but was left frustrated, despite a pledge from the banking group to run a Lloyds Community Banker Service in the town.

Face to face support

A Community Banker, while not able to handle transactions, will provide face to face support for people who have questions about accounts and services. However, Lloyds indicated that this would only be available once a fortnight in Pontardawe, and their plan was to encourage people to use their online or telephone banking services.

Lloyds does not currently offer a Welsh language version of their online banking, although there are options to speak to people in Welsh on the telephone.

Ms Williams, MS for South Wales West, said: “The decision by Lloyds Bank to close the branch in Pontardawe has left a sense of betrayal for residents and businesses alike. I was keen to impart in my meeting with Lloyds the fact that this decision doesn’t just impact the people of Pontardawe – because this is the last bank in the entire Swansea Valley, it impacts up to 25,000 people.

“While Lloyds insisted that they wrote to everyone lives near and who uses the branch, even if their account sort code is elsewhere, I received no such letter and I both live in Pontardawe and frequent the branch! I was able to secure a commitment from them to look again at their list of customers in scope.

“I also made clear that the closure of the branch will impact our most vulnerable people. Travelling to Swansea or Neath is not an option for everyone, and many people who signed my petition have told me that they’re not able to or want to use online banking services – not everyone owns a computer, and not everyone has good internet connection in Wales!”

‘Stings’

“What particularly stings is that Lloyds closed their Ystradgynlais Branch on the basis they had a branch in Pontardawe. People from across the Swansea Valley come to Pontardawe for the bank, and this is rightly causing great concern for local businesses,” she added.

“While Lloyds reviewed transaction data for local businesses, they did not survey those businesses before making their decision, and the concern is that the removal of the bank will force those businesses to go cashless. This will impact people who do not have access to a bank card, such as those with a learning disability, and those who prefer to transact in cash.

“Lloyds Bank have promised me that no customer will be ‘left behind’ and they will look at the resource which will be allocated to the Pontardawe Branch to ensure customers have the time to learn about other options, but the fact remains that it won’t be the same. While Lloyds reassured me that 77% of Pontardawe Branch customers are interacting with banking in different ways too, I’m fighting for the quarter of customers who only interact in branch, and for our local businesses.

“Here we have a multi-national bank that’s forcing change on customers who are telling them loud and clear they want and need a physical branch. This is not a customer-first approach, it’s a corporation-first approach and their initial response is deeply disappointing.”

Lloyds has cited changing consumer habits as the reason for branch closures due to more costumers choosing mobile or online banking as opposed to visiting a branch. The branch in Pontardawe is due to close for good in November.