Brightlingsea is set to lose its last bank branch - leaving just one cash machine in the coastal town.
Lloyds Bank has announced it is also closing its branch in Frinton-on-Sea, with both to close their doors for good in October this year, as more customers move to banking online.
Mayor of Brighlingsea Ian Block, said it would have a huge impact on the town.
He said: “One of the attractions of the town is that people from the surrounding villages can come and do their banking and use the shops. If there is no bank they will choose to go elsewhere.
“Thankfully we sill have a post office so people can use that.
“But people over 60 are not quite as au fait with online banking.
“It’s the elderly and frail, which we have quite a few of in Brightlingsea, who may be the most affected.
“The other thing is we had two ATMs in the town - one at Tesco and one at Lloyds.
“If we have lost the Lloyds ATM and Tesco moves out I don’t know what would happen then.”
Robert Burke, mayor of Frinton-on-sea, worked at the town’s Lloyds Bank for more than 30 years, retiring as manager in 1997.
He said although Frinton would still have a Barclays branch, the loss of the Lloyds would have a big effect on residents, particularly the elderly.
He said: “I don’t think it will have a great effect on the town but for a lot of people it will be an inconvenience to go to Colchester or Clacton for counter services.
“This is a very personal issue to for me , I was the branch manager until 1997 when I retired.
“I know a lot of people use online services, cash machines and cash back from supermarkets now. Nevertheless, whenever I go into the branch there are always two or three people queuing.
“We are a town of elderly people and people who tend not to use online backing. But I’m sure the town will bounce back.”
According to a branch review by Lloyds Bank, the Brightlingsea branch see 78% fewer customers than a typical Lloyds branch with just 35 regular weekly branch users. Frinton’s branch sees 63% fewer with 52 regular weekly customers.
On their decision, the branch review reads: “We have made the difficult decision to close the branch because of the changing ways customers choose to bank with us - most are already using an alternative ways to bank in addition to the branch.”
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