What can town facing last bank closure learn from neighbours?

Horncastle residents say they are worried about access to cash and services as the town prepares to lose its last remaining bank this summer.

Lloyds Bank is set to shut its High Street branch on 10 August, leaving the town without any banks.

"I don't know what we'll do without it," says resident Geoffrey Cook.

But can the town learn from other communities that have had to adapt to life without a bank?

Caistor, 23 miles away, lost its final bank in 2015 and, despite fears at the time, residents say they now manage their banking through the Post Office or by travelling to banking hubs in Brigg and Market Rasen.

Local MP Victoria Atkins says she is pressing for a new banking hub for Horncastle so it does not become a "banking desert".

Business owners in Horncastle say the bank's departure is already affecting the high street.

Emma Palfreyman, who runs an interiors and upholstery business, says: "It's a shame when you see another empty building. We need town centres to be vibrant."

Key‑cutter and shoe‑repair worker Brett Makin says the closure feels like another blow.

"Smaller shops are closing and all the towns which used to be thriving seem to be disappearing. Every time a shop closes it reopens as just a charity shop or Turkish barbers, not traditional shops like they used to be," he adds.

While Horncastle prepares for the change, Caistor has had a decade to adapt to new ways of banking.

Lisa Padbury, who runs a gift shop in Caistor, says she has not had any problems since opening her business four years ago.

"We transfer money in the Post Office, which is open until 5:30pm here. We go after we close the shop.

"Change needs to happen, and it will be fine"

Kerry McClements, who works at both the Caistor Post Office and the banking hubs in Brigg and Market Rasen, says many customers already combine banking with shopping.

"They can still do everyday banking on any day of the week… It's just if you want to see your particular bank you have to go on the designated day.

"It's nothing to worry about."

Caistor's adaptation may offer reassurance to people in Horncastle – but it also highlights the need for easily accessible alternatives to traditional banks.

Keith, who is visually impaired, says that without a bank in town, everyday tasks become harder.

"I think not having the bank will cause lots of problems for the elderly or the disadvantaged. The safety for people such as myself using a cash machine is questionable.

"Some of them do have audio, but then you have to have headphones. And if you've got headphones and a guide dog, then you're a sitting target."

Keith says he still needs cash for shops that do not take cards and to pay local tradespeople.

Sam Richardson, the deputy money editor at Which?, says 429 bank branches have closed in the East Midlands, which includes Lincolnshire, since January 2015. Only 179 remain open.

He says the important thing is that "people who are dependent on branches have other options", such as banking hubs.

But they are not being opened as quickly as banks are being closed.

"The 200th banking hub opened in December 2025. To compare that, we've seen almost 7,000 branches close since 2015," he adds.

"So hubs are not replacing branches one to one. That's not necessarily the aim of them, but they're not even keeping up for many communities that now have no branch or hub."

Lloyds Bank says more than 21 million people choose to bank using their apps and that there will be lots of options available to help people when the bank closes.

It says these include face-to-face support at banking hubs and other branches of Lloyds and Halifax.

Atkins, the MP for Louth and Horncastle, says she has raised concerns about how elderly and digitally‑excluded customers are supported once the last branch shuts.

"Our rural communities are not suburbs. We need a full banking hub to protect our local businesses, our vulnerable residents, and the thousands of people in our rural catchment area."

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