Lloyds Bank has announced it will close its Teignmouth branch on 15 April next year.

It is the last bank left in the town, and the closest for Dawlish residents, who have no branches of any high street banks.

However, there are plans for a 'banking hub' in Teignmouth. No details have been released yet, but it will enable customers from a variety of banks to deposit and withdraw cash, pay in cheques, pay bills and use other services.

World 'becoming more digital' - Lloyds

A Lloyds Bank spokesperson said: "The world is becoming more digital than ever before and more of our customers are doing their everyday banking online.

"With more customers choosing to use digital ways to bank and manage their money, visits at this branch have fallen.

"As a result, we've made the difficult decision to close it."

'I will be fighting this every step of the way' - MP

Anne Marie Morris MP (Conservative, Newton Abbot) said: "Fortunately, Teignmouth is getting a banking hub.

"However, this means that the constituency as a whole – that is home to hundreds of businesses and just shy of 80,000 people – is left with only one town that is banked, Newton Abbot.

"This is completely unacceptable - I will be fighting this every step of the way!

"People must be able to have access to banking facilities where they live and work."

In terms of statistics, Lloyds said 54 per cent fewer people were making transactions in its Teignmouth branch in 2023 compared with 2018.