Lloyds Bank in Stow will be closing in February

Lloyds has confirmed that it will be closing its branch in Stow in February next year. 

The bank is the only one in the town after Barclays left Stow in 2022. 

A Lloyds Bank spokesperson said: "As many customers now choose to bank through their mobile app or online, visits to our Stow-on-the-Wold branch have fallen over recent years. 

"When the branch closes in February, customers can continue to manage their money with us online, by calling us, in person at our Moreton-in-Marsh branch or by speaking to a Community Bank, as well as at the local Post Office on The Square."

According to the spokesperson, 84% of the branches customers currently use online banking or other branches and footfall since 2019 has fallen by 62%.

Simon Clarke, Stow Town Council councillor, said: "I think businesses across the town will be very disappointed with the news. 

"We lost Barclays last year or the year before and Lloyds is now the only bank in town. 

"We do have an older age demographic in Stow and many people are not up to date with online banking. 

"People do need the service, if the bank goes I can only assume that the cashpoint goes as well and people are not going to want to walk to Tesco.

"I use the bank and I'm not sure what to do, though some people use cards, many people still use cash.

"It's a great loss for the town and will have a detrimental affect on businesses and residents in Stow."

Apart from the ATM at Tesco, Lloyds said that there are three free-to-use ATM's within four miles of the Stow branch.

The branch will be closing on February 17, 2025.

Dilys Neil, councillor for Stow at Cotswold District Council, said: "I think once people learn about this they are going to be extremely disappointed. 

"It means we will no longer have a bank in town and there are still quite a few people who don't trust online banking.

"It's always nice to have a person to talk to but the people at the post office are excellent."