Lancing’s last high street bank to close
Lancing is set to lose its final high street bank this summer.
Nationwide has announced it will close its North Road branch later this year, leaving the village with only the post office to service its banking needs.
A spokesman for the building society said transactions had declined and the vast majority of customers from Lancing used other branches.
As a result, the branch would close on July 8.
“Branches are important to Nationwide and we know our members value the personal service they offer,” said the spokesman.
“We have committed to maintain our branch network, upgrading over 200 branches and investing over £225 million since 2017.
“We continue to monitor how our members use branches, and from time to time we must make difficult – but carefully considered – decisions in the interests of our wider membership. In this case we’ve made the decision to close the Lancing branch.
“Over the past five years, we have seen transactions decline steadily at the branch and we know that a high proportion of members are using at least one of our nearby branches.
“In Lancing 77 per cent of members use other branches while only 3 per cent of members use this branch regularly and exclusively.
“With that in mind, we have invested in the nearby Worthing branch. We believe that this will provide our members with the best face-to-face experience.
“We will also be running a “Tea and Tech” session on May 7 in Lancing for those members who would like to get some more information on nearby branches and help and support with online services.”
Nationwide said it would look to find ‘alternative roles’ for employees of its Lancing branch.
With the village’s population set to swell significantly as the New Monks Farm development nears completion, residents have been frustrated to see another service leave the high street.
It raises particular concerns for less mobile people who may struggle to make the journey to a more distant branch, particularly those not comfortable using technology for online banking.
See what other banks have left our high streets recently here: Looking back at the banks and building societies lost in Worthing