Shock as only bank on Scillies set to close
THE only bank on the Isles of Scilly has announced it is set to close to the dismay of locals and businesses.
The branch of Lloyds in St Mary’s will close its doors next year – leaving the Scillies off the coast of Cornwall with no banks at all.
The move follows the expected closure of a total of 48 Lloyds and Halifax banks across the UK next year.
Phil Moon, who runs a restaurant and takeaway on the island, told the BBC that the closure had come as a “shock”.
Lloyds Bank said the decision was due to changes in customer behaviour meaning the branch was used less often.
Mr Moon said: “We obviously lost Barclays a couple of years ago and Lloyds became the only bank on the island so we never saw this coming.”
A Lloyds spokesman said people can still use the local Post Office.
A spokesperson said: “A new community banker will be made available to help customers with their everyday banking and customers can also continue to bank locally by visiting the nearby Post Office, which is a short walk away from the branch.”
Mr Moon said using the Post Office would see people “who just want to do bank transactions” having to join the queue for those wanting stamps or postal services.
“It’s just going to slow things down and make things more complicated,” he told the BBC.
The islands have a permanent population of just over 2,000 people but are a popular holiday destination.
While the islands have enjoyed high demand for holidays during the pandemic staycation boom, there are also concerns about transport links to the archipelago and a bid has been put in to ensure future ferry connections.
Transport to and from the Isles of Scilly could be transformed if a bid for £48 million from the Government’s Levelling Up fund is approved.
With passenger and freight vessels said to be nearing the end of their operational life the Council of the Isles of Scilly has pinned its hopes of providing new boats on the Government funding.
A £48 million bid which has been submitted to the Levelling Up fund would enable the Council of the Isles of Scilly to work in partnership with the Steamship Company, Tresco Estate, Duchy of Cornwall and Cornwall Council to provide the infrastructure and resilience required.