February 22, 2018 11.28 am This story is over 43 months old

Lincoln Co-op Bank to close permanently

It will close later this year.

The Co-operative Bank will be closing its only Lincolnshire branch later this year.

Co-op Bank Lincoln on Saltergate will officially close at 1.30pm on Thursday, May 24.

The closest branch will now be located in Nottingham.

They put the closure down to a continued change in how customers choose to bank.

According to the Co-operative, in the past year a significant number of customers have switched to digital banking and transactions carried out in branch have decreased.

Heather Lauder, Chief Banking Operations Director at The Co-operative Bank said: “This decision has not been taken lightly and we realise this may be difficult news for some colleagues.

“However, like many banks, the proposal reflects changes in the way our customers are choosing to bank with us, which has continued to accelerate as customers increasingly undertake more of their transactions online or via contactless payments.

“Our branch network remains an integral part of our overall customer service offer and we have been investing in those branches that are well used.

“At the same time we are investing in our digital services to provide customers with new ways to service their accounts such as web chat and secure messaging, and introducing digital wallets such as Apple Pay, Android Pay and Samsung Pay as they continue to demand access to banking services at their fingertips.”

As first reported on Lincolnshire Business.

Spotted an error? Please notify us by selecting that text and pressing Ctrl+Enter.