Lloyds Bank Branch in Torquay Ceases Operations

A local Member of Parliament has urged the financial institution Lloyds to guarantee continued customer support following the permanent closure of its Torquay branch. The facility, situated on Fleet Street in Torquay, is scheduled to cease operations on Tuesday, transitioning its services to online platforms. Steve Darling, a Liberal Democrat, reported having discussions with bank representatives in Westminster and conveyed his “disappointed” reaction to the closure. Lloyds indicated that it is providing assistance for customers to migrate to online banking and confirmed that the closest physical branch is now in Paignton, located approximately three miles away. The company also noted that banking facilities are available at the nearby Post Office. Four employees will be impacted by this closure; however, it is understood that no compulsory redundancies are planned. Darling stated: “It feels very much that it is just a numbers game.“Large banks do make significant profits. What are they actually putting back into communities? How are they looking after our town centres?”He further commented that the decision was made without considering the anticipated changes in Torquay town centre over the coming years, resulting from government Town Deal investments. He highlighted that services at Post Office counters are presently limited. “The perfect solution is to keep the banks open, but the economics go against that,” he added. “We need to ask the banks how they are adding to the viability of our high streets.” A spokesperson for Lloyds explained: “As many customers now choose to bank through their mobile app or online, visits to our Fleet Street Torquay branch have fallen over recent years. “When the branch closes, customers can continue to manage their money online, by calling us, in person at the Paignton branch, or at the nearby Post Office on Union Street.”