MP warns of ‘banking isolation’ as Lloyds announce end of mobile banking service

Liberal Democrat MP Richard Foord has expressed concern about older residents being left unable to access their own money as Lloyd Bank announces the end of their mobile banking service from May next year.

The Mobile Branch currently operates every fortnight and runs between Budleigh Salterton, Ottery St Mary, Cullompton, and Lyme Regis. The branch stops for roughly two hours in each location, offering people a chance to access these important banking services.

In the twelve months to July, 1,296 personal transactions were conducted using this service, with a further 498 business transactions. Half of those who use the service are over 75, leading to concerns that withdrawing this service could leave them cut-off.

With this service set to disappear in under six months’ time, customers would face long journeys to access a bank branch. Those living in Budleigh Salterton are worst affected, with their nearest branch being over 15 miles away in Seaton.

In response, Richard Foord MP - who is standing for Honiton and Sidmouth at the next election - has called for greater public consultation on changes to mobile banking services and for more work to be done to fast track the establishment of Community Banking Hubs, like the one he recently opened in Axminster.

Commenting, Richard Foord MP said:

“The decision by Lloyds to scrap their Mobile Branch service from May next year is deeply concerning. People here in our corner of Devon already face huge challenges to access in-person banking, and this will just make things worse.

“I am particularly concerned about the impact this will have on older people, who make up roughly half of those who currently use this service. We risk seeing them being left in banking isolation, with their closest branch being miles away and hard to get to.

“So many people benefit from being able to access in-person banking services. It offers people greater independence and security, allowing them to be able to manage their money and discuss things with trained professionals, who help to answer customers’ questions.

“In recent years, too many banks have been shutting their branches and withdrawing from our communities here in rural Devon. We need to ensure that any change to these vital services is subject to a full public consultation, including looking at ways to keep them here on the ground.

“But it’s clear that this alone is not enough to stop the decline. What we need now is a renewed focus on Community Banking Hubs, to enable local people to access a full range of banking services – regardless of who they bank with – under one roof.

“We’ve seen the success these projects can have, and it was great to open the new Hub in Axminster last week. We need to see similar progress on the proposed Hub for Sidmouth, and other places in East Devon that no longer have a local bank branch.”