Lloyds Bank has confirmed that its Ryde branch will permanently close on 21st January 2026, leaving the town without a single high street bank.
The closure marks the end of traditional banking in Ryde. While Nationwide will continue to operate in the town as a building society, as will Yorkshire Building Society, the withdrawal of Lloyds means that customers needing services from a bank will now have to travel to Newport.
Lloyds has been reducing its footprint across the Isle of Wight for several years, with branches in Shanklin, Bembridge, Cowes and Sandown already shut.
The company has previously pointed to the decline in counter transactions and the increasing use of online and mobile services as the reason for these decisions.
Ryde has been hit particularly hard by the retreat of major banks. Santander’s Ryde branch closed in June 2019, with Barclays closing its doors in August 2022. Just a year later, both HSBC and Natwest closed in August 2023. Lloyds was the last bank standing, and its Union Street branch will now follow suit in early 2026.
However, LINK, the UK’s Cash Access and ATM network, has confirmed that Ryde will receive a new banking hub to help bridge the gap.
Banking hubs are shared spaces, available to customers of all banks, and operate similarly to a traditional branch. A counter service, run by Post Office staff, will allow customers to withdraw and deposit cash, pay bills and carry out everyday transactions. Private consultation rooms will also be available for more specialist support, with community bankers from different banks working on a rotating schedule.
Chris Ashton, Chief Commercial Officer at LINK, has said:
“While more people are switching to digital banking and payments, we know that many people still rely on and choose to use cash. That’s why we’re delighted to recommend Ryde as one of 11 new hubs today.”
Ryde will be the second town on the Isle of Wight to have a banking hub, joining the one already operating in Cowes. The facility will be delivered by Cash Access UK before Lloyds closes next January, although the exact location in Ryde has not yet been confirmed.
Joe Robertson MP, for Isle of Wight East, has reacted to the news saying:
“I was disappointed to learn that Lloyds Bank are closing their branch in Ryde next year. Banks are a lifeline for many and are a vital part of High Streets. It would appear that little consultation has taken place with customers prior to the decision being taken.
“Up until three years ago, Lloyds had a branch in Shanklin, and more recently, a mobile bank service was available in Sandown and Bembridge. Now, customers have to travel to Newport to access a ‘local’ branch. I am keen to ensure support is available to Ryde branch customers who need it and I have written to Cash Access to work towards getting a Banking Hub established in Ryde as soon as possible.”
It was on the cards, they don’t work Friday’s
and do reduced hours in the week, who’s next.
Het ready for the social credit system that is coming.
Universal basic income
Lol