Halifax in Waterlooville to close with LINK report into access to cash finding no new banking services required in the area
High street bank closing permanently in October
A high street bank in Hampshire has confirmed it is permanently closing this year with no replacement services set to be offered.
The Halifax branch on London Road in Waterlooville which is run by Lloyds Banking Group will be closing on October 27. The banking group had announced a raft of closures across the country at the end of last year, however while Waterlooville was not included in that list, its future has now been confirmed.
A note on the Halifax website states: “This branch is due to close permanently on October 27, 2026. Financial Conduct Authority rules mean that LINK have reviewed Access to Cash in the local area.”
Upon the news of the closure, cash access network Link, which ensure that communities have enough facilities to access to cash, reviewed whether replacement services needed to be added in Waterlooville.
Under-taking a three-step review, Link checks if there are services within a mile radius, the impact of the closure, and if required what services need to be added. In the case the review did not get past step 1 with Link deeming there were enough alternative services.
The report by Link states: “In this case, our assessment process stopped at Step 1, and we are not recommending the provision of any new cash access services in Waterlooville at this time. This is because our assessment shows there are already cash access services and facilities which are suitable for the needs of the local area.”
In the report it points to the below available services already in the area after Halifax closes:
- Free cash deposit and withdrawal services for personal current accounts.
- Cash deposit and withdrawal services for business accounts that allow for a reasonable mix of notes and coins to be deposited or withdrawn.
- A Post Office.
- A Bank Branch.
- A Building Society Branch.
- A Withdrawal ATM.
Once closed, there will be a HSBC, Santander, Nationwide Building Society and a Lloyds Bank in Waterlooville.
When announcing the closures last year, Lloyds said that customers will still have multiple ways to manage their money, including through mobile apps. Those who prefer in-person service can use any remaining Lloyds, Halifax, or Bank of Scotland branch, visit the Post Office, or deposit cash at PayPoint locations.
The full report by Link can be found here along with details on how to appeal the decision https://www.link.co.uk/our-assessments.