Lloyds closure: Sadness as Southsea's last bank is set to close - closure date confirmed

Lloyds has confirmed that it will close its branch in Palmerston Road on June 2 as it said fewer people were now using it.

Its announcement to customers said: “Before we close any branch, we look at how our customers are managing their money and using the branch. Most customers are now using our Mobile Banking app, Internet Banking or calling us instead, which means they are using branches much less. Because of this, we'll be closing our Southsea branch.”

The move means that there will only now be two Lloyds branches in the city, one in Commercial Road and one in Cosham, and will leave Southsea with no bank or building society at all, although customers will be able to use the Post Office in Palmerston Road for some banking services including the deposit of cash into their account.

Customers and residents have been expressing their sadness, with Lloyds being the last remaining bank in the area following other closures including Natwest, Halifax and Santander in recent years.

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Portsmouth South MP Stephen Morgan said that he was ‘deeply disappointed to hear the news and he pledged to try to arrange a meeting with the bank to find a way to help residents to continue to do their banking.

He said: “Like many constituents, this is a branch that I use regularly and its closure is even more concerning following the shutting of the Natwest, Halifax and Santander branches in Southsea in recent years.

“Brick and mortar bank branches are vital to those in our community who cannot access online banking or prefer to bank in person.

“The closure will also be a bitter blow to the branch’s staff who have helped so many Portsmouth people with their finances over the years.

“I will be seeking an urgent meeting with Lloyds to raise constituents concerns and will continue doing everything in my power to bring our high streets back to life and ensure people can continue to bank in person.”

Residents have also been speaking of their disappointment. They included Lee Drummond who reacted on The News’ Facebook page and said: “Mental! They should use the building to have an open community banking group/hub Especially with the new developments happening in Palmerton Road now. where's everyone meant to bank! absolutely ludicrous!!”

Maria Turner agreed and said: “They are trying to make us a cashless nation and this is just the start removing any free movement of money and large withdrawals are now a no no they want to know where every penny of your money goes!!”

Jacqueline Black said: “I like the Lloyds Bank Palmerston Road and the staff. So we have to queue up in Commercial Road branch with it's three tills.”

Other nearby Lloyds branches include the one in Fareham which is open Monday to Saturday, Havant which is open Monday to Thursday, Waterlooville which is open Monday to Saturday except on Wednesdays and Gosport which is open Monday to Thursday except on Tuesdays.