Last Rasen bank to close this summer.

Library image of Lloyds Bank in Market Rasen
Library image of Lloyds Bank in Market Rasen

Lloyds Bank has announced it is to close its Market Rasen branch this summer.

In an online report, Lloyds says the closure is due to changes in customer habits; the ‘customers are using it (the branch) less often’ with the majority using ‘alternative ways of banking’.

Overall, Lloyds says branch usage compared to a year ago is down 15% for personal banking counter transactions and 9% for business; with branch usage compared to a typical Lloyds branch down 75% for personal customers and 55% for business customers.

Lloyds, in the town’s market place, is the last bank left in Rasen after Natwest and HSBC both closed their doors.

Back in 2016, amid a nationwide scheme by Lloyds Bank to close 200 branches, a spokesman for Lloyds said there were ‘no immediate plans’ to close the Market Rasen branch.

At that time, Rasen mayor, Councillor John Matthews said it would have been an ‘absolute travesty’ if the branch did close.

The bank will close on June 11, 2020.