Banking hub to open after closure of Lloyds branch

A Devon town is set to get a new banking hub after being told its Lloyds Bank branch will close.

Lloyds Banking Group announced on Wednesday that 95 branches would close between May this year and March 2027, including the Honiton branch.

LINK, which helps deliver the hubs, said the new banking site would be delivered by Cash Access UK. It added it would begin to engage with the local community and start to look for potential sites.

Dr Chris Ashton, chief commercial officer at LINK, said: "While more people are choosing to bank and pay for things digitally, we know that many people still rely on and choose to use cash. That's why we're delighted to recommend the new hub in Honiton."

Ashton added: "There are over 214 hubs open across the country and, when it opens, the Honiton banking hub will be vital for the local community and high street."

LINK described banking hubs as a shared banking space, which were similar to a traditional bank branch but open to everyone.

It added when the Honiton branch opened, it would have a counter service where customers of any bank could withdraw and deposit cash and make bill payments.

There would also be private spaces for customers to speak to community bankers from their own bank for more complicated matters that required specialist knowledge or privacy, LINK said.

It added the banks would work on a rotating basis, so there would be staff from different banks available on different days.

Honiton was the ninth banking hub to be recommended in Devon with hubs in Axminster, Brixham, Dartmouth, Dawlish, Seaton, Sidmouth and Teignmouth already open and Torquay's hub set to open, LINK said.

Follow BBC Devon on X, Facebook and Instagram. Send your story ideas to spotlight@bbc.co.uk.