Lloyds Banking group has announced 53 branch closures across the country including the Halifax branch in Whitby.
The Halifax branch on Baxtergate will close in January 2025 and it's cash machines will also be removed.
The bank cites a shift in customer banking habits as the primary reason, noting a significant increase in the use of mobile apps, internet banking, and phone services over in-branch transactions.
Halifax says there has been a 48% reduction in customer use of the branch over the last five years and a 17% fall in cash machine transactions.
The bank says 698 people use the Baxtergate branch each month, it says 47% of the branch customers have used other branches and 71% have either used other branches, online banking or telephone banking in the six months to November last year.
Halifax has listed nearby branches in Scarborough and Redcar as potential alternatives for Whitby customers, saying there are regular bus services to both towns. The Scarborough Branch is 19 miles away and the Redcar branch 23 miles away.
Halifax say that a Banking Hub is planned for Whitby.
Banking Hubs are shared banking spaces on the high street operated by the Post Office. They are open Monday to Friday. Customers of all major banks and building societies can use them to do their everyday banking tasks.
Halifax say:
"Our Community Banker will be at the Banking Hub one day a week, so you can come in and do your banking in person.
We'll update our website with the hub address, opening times and when our Community Banker will be there, when this information becomes available.
To give the Banking Hub time to get up and running we may delay the closure of the branch until March 2025"
The closure will leave Whitby without a main bank branch. Barclays were due to close their branch in the town last December but say they will now be keeping it open for a while longer and will announce a new closure date soon.
There are more details about the Halifax closure at www.halifax.co.uk/assets/pdf/branch-reviews/halifax-whitby-branch-part-1.pdf
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