BUSINESSES in Welshpool have hit out at major high street banks after it was announced that the town would be left without any permanent banks from early next year.
In a move that deepens the banking crisis that has descended on the town, on July 20 Lloyds Bank announced it would be closing its Welshpool branch on January 26, 2023.
Lloyds said the decision was made in response to changing behaviour of how customers bank.
It follows hot on the heels of Barclays announcing its intention to withdraw from both Welshpool and Newtown, and while Link has announced that it will be offering a banking "hub" in the town, none of the banks who made the town their home will be left after the Lloyds closure.
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Business owners on Welshpool High Street have now told the County Times how they think the latest closure announcement will affect the town.
Sylvia Bates of The Celtic Company said: “It’s incredibly disappointing, especially for elderly customers who come in here.
“We know they rely on the in person bank services and without that resource it makes you worry both for them and for businesses of whether or not there will be as much foot traffic with less reason to come into the town centre.”
Sandra Richards of Welshpool Jewellers Ltd said: “I’m absolutely devastated at the news and I’m really sad for all the staff in that branch.
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“They’re an amazing staff who have always done good work, and even if they remain at the company, to break up a work place like that and be sent away to a different community is always difficult.
“Lots of elderly people use that bank and appreciate the chance to talk to someone in person, so taking away that service contributes to less people walking down the high street and taking a look around the shops.
“The simple fact is that with less services for the community, there’s less space for the businesses to thrive.”
Diane Ashman, owner of Ashman’s Antiques and Old Lace, added: “I think it’s terrible, and shows a complete disregard for the people who muse that bank.
“It leaves no space for the customers who want to use their services, no space for people who use it as a reason to go into town and spend some money in Welshpool’s businesses and no space for people who prefer to have cash readily available like this shop.
“We’ve been here for 30 years, and know how essential reliable services are to the customers who walk along this high street, so this is a sad day for Welshpool.”
Lloyds has confirmed that there will be no redundancies, as staff of the Welshpool branch will be redeployed to other roles.
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