Freshwater’s branch of Lloyds Bank will close in January.
Lloyds Bank said they had made the difficult decision to close “due to the changing ways customers choose to bank with us”.
Now customers will have to face the 12 mile trek to their nearest branch in Newport if they need counter services.
The journey takes a whopping 51 minutes by public transport, and who’s got time for that?
Fortunately, a mobile branch will visit the Freshwater area. The new service will be in place prior to the branch closing, to ensure customers become familiar with the service.
Customers will be able to use the new mobile branches for their everyday banking needs such as making deposits (£5,000 cash limit), withdrawing cash (£300 daily limit or £1000 if pre-ordered 48 hours before) and paying bills.
Business customers will have also access to basic services such as making deposits and withdrawals within set limits.
Full details of how and when the mobile branch will be available have not yet been disclosed.
A Lloyds Bank spokesman said: “We have made the difficult decision to close the Lloyds Bank Freshwater branch in January 2019 due to the changing ways customers choose to bank with us, which has resulted in the branch being used less often.
“We apologise for any inconvenience that this may cause and will be speaking to customers about the new mobile branch service, which will be on the road before the branch closes, as well as their nearest alternative branch, which is in Newport.
“The new mobile branch service will provide a vital service to the Freshwater area, by giving customers access to everyday banking services such as making deposits, withdrawing cash and paying bills.
“Customers can also continue to access their banking locally by visiting the nearby Post Office, which is a short distance from the branch.”