HSBC has announced its Market Rasen branch is to shut - and the town’s one remaining bank has not ruled out a closure either.
MP Sir Edward Leigh has slammed HSBC’s decision, saying it will be “bad” for the area and that he has objected “strenuously” to it .
The bank admitted the closure would be “unsettling” for the community but said the decision has not been taken lightly and that customer numbers were falling.
The news comes just weeks after NatWest closed its Market Rasen branch - and now Lloyds says it too is doing a “review” of branches.
A Lloyds spokesman said the bank did not currently have any plans to close its Market Rasen branch but that a “branch review” into potential closures was ongoing.
The spokesman said the review would first focus on areas where there are overlaps of branches in urban locations - where there are two banks in medium size towns.
She added that as and when any decisions were made, colleagues and customers would be the first to know.
HSBC will close on December 11.
Sir Edward said: “This closure is bad for Market Rasen and the surrounding area.
“Most worryingly, it will disproportionately affect our more senior residents who are used to the personal interaction they receive in branches rather than doing their banking online.
“I have written to HSBC objecting strenuously to the closure and asking what alternative provision they will be making for their customers in the area.”
Residents have also hit out at the closure, raising concerns about access to banking for elderly people.
On the Rasen Mail Facebook page, Janice Tappenden said: “This is not only bad for the area but its people too. Has anyone ever given any thought to the amount of old people who use these banks and are not silver surfers? A lot of them have no idea how to work a computer let alone do their banking online.”
Customers’ accounts will be transferred to the HSBC branch in Lincoln.
An HSBC spokesman said: “We never take the decision to close a branch lightly, and we understand it’s unsettling for the local community.
“Unfortunately, use of the Market Rasen branch has fallen significantly over the past few years, and we’ve taken the difficult decision to close it.
“We are working with customers who use the branch to help them understand their options, which include being able to use the Market Rasen post office to check their balance and withdraw and pay in cash and cheques to their personal HSBC account.
“There are also a number of fee-free cash machines in the local area.”