Lloyds Bank confirms its Ystrad Mynach branch will close later this year

Lloyds Bank is set to close its Ystrad Mynach branch later this year, it has confirmed.

The branch, on Bedwlwyn Road, will close on September 20, with Lloyds saying the decision is due to a fall in the number of people using the branch.

A Lloyds Bank spokesperson told Caerphilly Observer: “We’ve seen far fewer people visit our Ystrad Mynach branch over several years, with customers now choosing to do their banking in different ways. 

“When the branch closes in September, customers can continue to bank with us at the Post Office and can access cash at a number of free ATMs nearby.”

Anger over lack of consultation

Caerphilly’s Senedd Member Hefin David and Member of Parliament Wayne David, both Labour, said neither they nor the public had been consulted on the closure.

The pair said they will hold a meeting with Lloyds to voice residents’ concerns.

Hefin David said: “I am incredibly disappointed that Lloyds have taken this decision. I’ve heard first-hand how this will impact residents. Wayne and I have requested to meet with the management team and will do all we can to persuade them otherwise.

“The Welsh Government is committed to support the creation of a Community Bank for Wales, in order to seek to address this kind of market failure creating closures in our community.”

Wayne David described the announcement as “totally unacceptable” and said: “Lloyds Bank have not consulted elected representatives and have not consulted their customers. If they had, they would have heard a resounding condemnation of any plan to close the branch.

“Although digitalisation and online banking is leading to a reduction in the need for some people to use a bank branch, many people who are digitally excluded and elderly people especially rely on the bank branch in Ystrad Mynach.”

“This will leave us with just one bank left in Ystrad Mynach”

Plaid Cymru councillor Alan Angel, who represents the Ystrad Mynach ward, described the closure as “shocking” and said: “This will leave us with just one bank left in Ystrad Mynach.

“We used to have three or four banks here. Natwest is gone, Lloyds is going. Only Barclays will be left. It’s a shame but it’s a sign of the times.

“If the cash machines are down, people would have to go to either Caerphilly or Blackwood to cash money.

“I’m very disappointed and Cllr Martyn James [the other ward councillor for Ystrad Mynach] feels the same.”

“This will have a big impact on Ystrad Mynach”

Sharon Wood, manager of New Ystrad Fish Bar on Commercial Street, said Lloyds Bank closing would “have a big impact on Ystrad Mynach”.

“You’d be surprised how many people come to Ystrad Mynach to cash money, get food and then go home.

“It’s going to affect us and the other businesses, especially all the little businesses – Ystrad Mynach will lose a lot of custom.

“We’re a little town – we need the banks.”

Ms Wood also questioned Lloyds’ claim that the number of people using the branch was decreasing.

“They’ve reduced their opening hours to 10am to 2pm and it’s always busy. They shouldn’t be shutting.”