Bank closure in Chapeltown

By James Fletcher

The start of 2023 has seen an upsurge of banks closing their branches as more and more people elect to move on to digital banking.

The nations high street is forever changing with a lot of people electing to shop online which is increasing year by year. And bank branches are no exception to the rule as more people prefer to do their banking online.

193 branches have closed already in the UK at the start of 2023, five of which have been in Yorkshire and now Chapeltown becomes the latest to be added to this statistic. Lloyds has announced that 36 branches will be closing throughout the year in various places in the UK making the Chapeltown branch number 37 to be closed.

The branch will close its doors on the 24th of July 2023 and customers will be informed in due course. Lloyds’ media statement explained the reasoning for the closure.

“In the Chapeltown branch transactions by personal customers over the past five years have dropped by 76% from 2017 to 2022 and 85% for business customers. Each year there has been a steady decline in usage even before covid and the pandemic has just accelerated this process, opting to bank with us in different ways.”

Lloyd’s bank has ensured that there will be no staff redundancies, instead, the current staff at the branch will be offered other roles in the branches that will remain open.

Marie Tidball, Labour’s parliamentary candidate for Penistone and Stocksbridge called the closure plans ‘a disgrace’. She said: “High street bank branches are vital to local communities and small businesses, and now the last bank to serve the local area is planning to close its doors. We’re urging the Head of Lloyd’s Retail Banking to reverse this decision urgently.”

The bank also stated that they will be keeping their relationship with the post office so you will still be able to go to the local Post Office.

So, you will be able to use your local post office for personal banking such as checking balance, withdrawing money, as well as paying in cash and deposit cheques and this is the same for local businesses.

Is this just the start of things to come as the world prepares to move towards the digital age, whereas everything can and will be handled by their phone or tablet and available at the click of a button?

You will still be able to go into a branch in Sheffield with the closest one being in Hillsborough which will remain open for customers.