BANK customers in Ilminster will NOT get a new hub to carry out their face-to-face transactions, it is understood.

The Silver Street branch of Lloyds is due to close in August, the last high street bank to leave the town.

Since the announcement, Ilminster Town Council said it has been looking at ways in which it can try to bring about pressure to keep Lloyds open, or at the very least, for a banking hub to be located in the town.

Banking hubs see the main banks unite to provide counters for those wishing to do their banking in person.

However, the council said it has been informed Ilminster does not fulfil the criteria for a hub, as there are not enough people living within 1km.

Now, the council says it is carrying on work to keep banking facilities in the town, and is set to meet MP Marcus Fysh (Con, Yeovil) to establish what pressure he might be able to bring to bear.

“Unfortunately, the town council has been notified by Link, who administer the locations of hubs, that the town does not meet the various criteria at this point for a banking hub to be located here,” a spokesperson said.

“One of the criteria is that 7,000 people live within 1Km of the town centre and another that there are at least 70 retail businesses within the same area.

“This will come as a blow to the many people who live and work in Ilminster.

“Please rest assured that the town council is not giving up on trying to get a banking hub into Ilminster and will continue to apply pressure in all the ways that it can to see the current decision changed.”

Announcing the closure earlier this month, a Lloyds spokesperson said: “(A total of) 75% of our personal customers already use other ways of banking, such as mobile, internet or phone banking, as well as other branches.

“Branch transactions at the Ilminster branch fell more than 61% between 2018 and 2023.”