Lloyds to scrap mobile banking vans which help ‘as little as two customers’
Lloyds Banking Group is scrapping its mobile banking vans in May as part of its transition to digital banking, with demand for the service tumbling in recent years.
UK banks are increasingly transitioning to online services as fewer customers rely exclusively on branch networks, which are costly to run.
Lloyds, Britain’s largest domestic bank, last week confirmed that it would cut around 1,600 jobs across its branch network.
The company told City PM that just eight per cent of its 21m customers still choose to bank with branches only.
A spokesperson said on Monday that “as little as two customers” were now using Lloyds Bank and Bank of Scotland’s mobile banking service in some locations.
Lloyds has published statistics for the last six months showing that average visits to its mobile banking branches have fallen 90 per cent since 2018 – to 14 customers each.
The scheme acts as an alternative to high street branches, with vans visiting communities across the country to provide in-person banking services.
The spokesperson added that the group would introduce 32 additional “community bankers” to areas affected by the withdrawal of mobile services, who can set up temporary face-to-face services.
They noted “other options customers already have for their banking, including the Post Office, online, our mobile apps, phone banking, video services and web chat”.
As well as cutting branch jobs, Lloyds plans to create some 830 roles in an expanded “relationship growth” team, which it said would improve customer service.