Counting down the weeks to the last bank in town

Since our cub reporter’s original post concerning local banking in August 2024, there have been quite a few updates . . .

The most significant is that BOTH the Lloyds Bank and the Halifax in Havant are set to close in January 2026.

It is ironic that a poster in the Lloyds branch advertises that Halifax customers can use their services, and a poster in the Halifax branch says that they welcome Lloyds’ customers to use their branch, and now they are both to close within four days of each other!  This is a harsh decision.  Couldn’t one remain open?  Preferably Lloyds as that has blue badge parking just outside?

This will leave just Nationwide in Havant, who have committed to stay open until at least the start of 2028.  That will also be the only accessible cashpoint machine in the town centre.

The Financial Conduct Authority has warned that almost a quarter of adults have problems using financial products or services and other recent research says that the same proportion feel digitally excluded in some way. 

Lloyds Bank in Southsea closed on 2 June 2025, leaving the branch on Commercial Road as the only remaining Lloyds on Portsea Island.  I used to accompany an elderly friend to the Southsea branch, but with no nearby parking at Commercial Road, she’s lost her independence – not because she’s incapable, but because the system no longer accommodates her.

Many people expressed concern over the branch closure and the uncertainty it brings.  This poses a serious challenge not only for older residents but also for those without access to – or the ability to confidently use – online banking services.  As well as local Havant residents, this branch also is used by Emsworth and Hayling Island residents as well as frequently serving customers who travel from Portsmouth, highlighting its wider importance to the community.

Santander have announced that a further ninety-four branches are to close, though Waterlooville has escaped this round of cuts as has the branch in Edinburgh Road, Portsmouth.

We are all being pushed to go online or use an ‘app on your smartphone’ – this is, and always will be, alien to many.  At the same time many banks are being affected by IT problems causing outages, not helpful if that’s your only way to pay for your food shop or petrol.  Many were caught out by not being able to use their phone to pay at M&S recently.  I was in Chichester earlier this month (September 2025) and found that there was no internet in South Street and part of North Street, so stores such as Boots and Iceland were cash only and at least one of the travel agents wasn’t open at all because they couldn’t do anything!

I have read of advice issued to residents in one of the Nordic countries, which seems jolly sensible, to have a week’s cash in the house as a safeguard and to have payment cards with two distinct banks so if one bank has an IT problem or outage you have an alternative.    There have been several occasions where banking systems have had significant problems and been unavailable, sometimes for days.  If Marks and Spencer’s and the Co-op’s IT systems can be hacked so seriously it is worrying about what would happen if something similar happened to a bank.  Most of the bank problems to date have been due to problems doing system upgrades – so, technical errors, not malicious.    

You may think you are fine and these problems don’t affect you – think again.  Where do you go to discuss a mortgage or a loan, or, if you are an executor, deal with an estate? 

Also, think of others.  If the elderly person I help doesn’t have cash, how can they pay for the pint of milk or newspaper that a neighbour has got for them.  How do they get to a bank to pay their bills?  Who do they have to trust to make payments on their behalf, or handover their banking card?