FURTHER CONCERNS have been raised after it was announced that a town bank was to shut later this year.

Lloyds in Long Street, Wotton-under-Edge, is to shut in August, it was recently revealed.

Tony Davey, the chair of Stroud district chamber of trade said: "The closure of banks not only impacts the staff who were employed there and their customers.

"As banks withdraw from our communities, it has a direct hit on our town centres that is wide-reaching - this has already been witnessed in our other towns.

"In Wotton-under-Edge, this loss will (as it stands) impact the availability of cash machines, which impacts those who use cash to help them budget.

"Using a bank branch also draws customers to a high street, where they will likely use other businesses during their visit.

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"The fact that branch usage is declining is directly linked to the banks making using a branch increasingly less attractive - removing services and shortening hours has almost guaranteed this outcome.

"Hopefully, with the loss of Lloyds Bank, Wotton-under-Edge may now become eligible for a banking hub and that some presence, even if not every weekday, may be maintained."

Stroud District Councillor leader Catherine Braun, who represents Wotton at SDC, said she was disappointed at the news.

"Such disappointing news that the branch in Wotton will be closing in August this year," wrote the councillor on Twitter.

"I'm hoping to meet with bank representatives to discuss options to provide local residents, businesses and communities with continued access to banking facilities."

Lloyds have explained why they took the decision, citing an increased use of online banking.

"Like many other high street businesses, we've seen people using our branches less frequently in recent years as more customers choose to do most of their everyday banking online," read a letter sent to customers.

"We're responding to the way our customers use our branches.

"We'll continue to invest in our branch network, but we have to make sure our branches are where customers need and use them most.

"As a result, we've made the difficult decision to close this branch because customers are using it less often.

"In addition the majority of customers are also using alternative ways to bank."