Lloyd’s criticised for bank closure decision

The MP for Ynys Môn has criticised Lloyds Bank after it confirmed the closure of its Llangefni branch, a move that will leave the town with just one remaining bank.

Lloyds has announced that its Llangefni branch will shut on 16 June, prompting concern from politicians and residents about the impact on access to face-to-face banking services on the island.

Llinos Medi, Plaid Cymru’s MP for Ynys Môn, said the decision demonstrated a lack of regard for customers and the wider community. She warned the closure would disproportionately affect elderly residents, small businesses and those unable to rely on digital banking.

“This is another blow to high-street services on Ynys Môn. Lloyds’ decision abandons customers who rely on face-to-face banking, especially older residents and those who can’t travel easily,” she said.

“Not everyone can – or should be forced to manage their finances online. Banks have a responsibility to serve the communities that have supported them for generations.

“Digital-only banking isn’t realistic for many households. Local businesses, particularly cash-based traders, and stallholders are also expected to be affected by the loss of in-person services.

“Busy towns like Llangefni deserve better. 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.”

Ms Medi also raised concerns about the effect on Lloyds employees. “This decision doesn’t just affect customers – it affects dedicated Lloyds staff who have served Llangefni for years,” she said.

“These are skilled local people who now face uncertainty about their jobs and their futures.

“At a time when high-street employment is already under pressure, Lloyds should be investing in its workers, not abandoning them.

“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.”

Following the closure, HSBC will become the sole remaining bank with a physical presence in Llangefni. Critics have warned this could increase pressure on the branch and heighten the risk of financial exclusion.

Branch reductions

The Llangefni closure forms part of a wider programme of branch reductions announced by Lloyds Banking Group. The group said it will close a further 95 branches across its Lloyds Bank, Halifax and Bank of Scotland brands between May 2026 and March 2027.

Under those plans, 53 Lloyds branches, 31 Halifax sites and 11 Bank of Scotland locations will shut. The banking industry has argued that closures reflect changing customer behaviour, with more people using mobile and online services.

Cash access network Link said 15 new locations across the UK would receive a shared banking hub to help protect access to cash. Banking hubs are operated by multiple banks on a rotating basis and provide counter services such as cash withdrawals, deposits and bill payments.

Lloyds Banking Group said it would have around 610 branches remaining once previously announced closures are completed.

A spokesperson for Lloyds Banking Group said: “Customers want the freedom to bank in the way that works for them and we offer more choice and ways to manage money than ever before.”