Disappointment as town's last bank branch to close

Larne residents have expressed their disappointment that the town's last remaining bank branch is to close.

Santander announced on Wednesday it is set to close 95 branches across the UK, putting 750 jobs at risk.

The decision to shut its Larne branch is part of a wider shift towards online banking, with the bank citing a "rapid movement of customers choosing to do their banking digitally."

However, a new banking hub has been announced in the County Antrim town to help fill the gap left by the closure.

The closure, expected later this year, will leave the nearest physical bank branch in Newtownabbey or Ballymena, which some residents have said is a significant journey for those reliant on in-person services.

Other towns in Northern Ireland which are losing their Santander branches are Armagh, Strabane, Magherafelt, Downpatrick, Dungannon and Portadown.

While digital transactions have surged by nearly two-thirds since 2019, some Larne residents said many customers, including some elderly people, still depend on face-to-face banking.

Barry Mills, from the town, voiced his frustration.

"How are people meant to cope? How is an old person or someone with learning difficulties meant to cope?" he told BBC News NI.

He said familiar staff would be missed as well as the sense of community the local bank had.

In response to concerns about access to cash and banking services, LINK, the UK's cash access network, has confirmed that Larne will be one of the locations for a new banking hub.

These hubs operate similarly to traditional bank branches, offering a counter service run by Post Office employees where customers of any bank can deposit and withdraw cash, make bill payments, and complete other basic transactions.

In addition, rotating community bankers from different banks will be available on specific days to assist with more complex financial matters.

Dr Chris Ashton, from LINK, acknowledged the importance of face-to-face banking and said that "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 and face-to-face banking.

"That's why we're delighted to recommend the new hub in Larne," he added.

However, despite the announcement of the hub, there are still concerns from some local people.

Speaking to BBC Radio Ulster's Evening Extra programme, local flooring business owner Margaret Ferguson described it as "another blow for Larne as a town".

Ms Ferguson told the programme that because there was no bank in the town, her company personally took a customer by car to the next nearest branch so that she could get payment organised.

"I feel for the elderly," she added.

Janice Wylie said she was worried about potential job losses and the wider impact on Larne's economy.

"Larne is pretty bad at the moment," she told BBC News NI.

"It needs an upgrade in the shops and Main Street. There's going to be nothing in Larne," she added.

Clive Burns, from nearby Magheramorne was interested to see what the hub would look like and if it would materialise.

"We'll have to wait and see what happen," he said.

With Santander's exit, Larne joins the growing list of UK towns losing their high street banks.

While the banking hub aims to soften the impact, many remain concerned about whether it can truly replace a full-service branch.

Strabane is not down to its last bank branch, but residents were still disappointed that Santander was closing.

Mary Cashell from the town described it as "sad".

"A lot of people don't have computers that they can go and check.

"I like speaking to the people, I don't like machines," she added.

Also speaking to BBC NI in Strabane, Margaret Sinclair said she "hated" it closing.

"I don't know where we are going to go next," she said.

"It's hateful, now we'll have to go to Derry. It's sickening," she added.

Analysis: John Campbell - BBC News NI Economics and Business Editor

The way this is going, bank branches are going to be more like car showrooms.

We won't have very many of them, and customers won't really need to be in them very often.

The introduction of banking hubs is an industry effort to have some banking presence in a town which is going to lose its bank.

These hubs allow customers of any bank to do basic banking, deposit or withdraw cash and make payments.

People from their own bank will be there on a rota basis who they can talk to about more complex matters.

We are going to see a move towards fewer branches and more of these hubs.