Lloyds bank are to close their mobile banking service across the South Hams.

The ‘Totnes’ route currently serves South Brent, Modbury, Dartmouth and Salcombe. The decision has come from an assessment by Lloyds citing, how their customers are banking with them, an assessment of the alternative options available. But perhaps most damningly their assessment of local transport and local broadband availability.

The availability, frequency and capability of local transport and broadband availability were assessed as not capable to sustain the service moving forward.

The alternatives for Lloyds customers are local Post Offices or the nearest branches which are in Ivybridge and Totnes. In Salcombe’s case the nearest branch is in Ivybridge which is over 15 miles away.

The majority of customers who use the service across the South Hams are personal bankers with only 25% of the business coming from business owners in the area.

The route will be closed by the 31st May 2024.

Dartmouth is getting a banking hub, which provide all of the routine banking services residents should need. Each high street bank will have one day a week where representatives will be there to deal with more complex needs for residents and businesses. Cash Access UK, who are coordinating the setting up of the new banking hub, are currently negotiating a lease for the hub in Dartmouth.

Residents in Dartmouth have reported that the mobile service is “very busy”, and the town will need the banking hub after the mobile service has ended.

Laura Campbell, Co-Chair of Dartmouth Chamber of Commerce, said: “We understand that the Lloyds mobile banking van will sadly stop its rounds after 31st May 2024. Fortunately for Dartmouth we will have a brand new Banking Hub. 

“This was a community request as our last bank closed in 2018. The Banking Hub for Dartmouth was announced in August of this year. They are currently on track to have it open within the timeline of 12 months, this will be around August of 2024. According to Cash Access UK who run this scheme. We were lucky to have one of the team come and talk about the project earlier this year just as the Chamber was launched. This is the second banking hub in South Devon, following a successful campaign by Anthony Mangnall MP to open one in Brixham in late 2022.”

Cllr Mike Rowley, Dartmouth Town Council, said: “I can confirm that Dartmouth is getting a Banking Hub, Anthony Mangnall MP has done the groundwork on this. Cash Access UK is to establish a hub in a premises in the central town. We are awaiting confirmation as to precisely where the premises will be. 

“Cash Access UK is a not-for-profit company set up by 16 of the major banks operating in the UK to establish banking hubs where there is no physical banking provision. There are 7 Banking Hubs operating already in the UK and many more towns have applied.

“Dartmouth’s Banking Hub will provide routine, over-the-counter banking transactions such as cash, card and cheque payments and withdrawals as well as payment of utility bills. Businesses will be able to deposit cash takings and withdraw change. These facilities will be available to customers of all banks irrespective of their personal banking affiliations and during normal banking hours, 9.00 till 5.00, Monday to Friday except for bank holidays.

“On specified days of the week a participating bank’s employees will be available for personal and confidential banking consultations. Each participating bank will have a designated day. The participating banks are chosen by past levels of business in Dartmouth."