More than 200 people have signed a petition opposing the planned closure of a bank in Hainault.

Lloyds Bank has announced it is shutting its branch in Manford Way on October 25.

The banking giant said the "difficult" decision to close was made because customers are using the branch less often.

It published figures showing a 29 per cent fall in the number of personal banking transactions in March 2022 compared with March 2017 and a 39pc fall in business transactions across the same period.

But Hainault ward councillors Sam Gould, Shah Ali and Luthfa Rahman are urging Lloyds to reconsider the move.

They have penned a letter to Lloyds Banking Group chief executive Charlie Nunn with their concerns.

The trio said they know many Hainault residents and businesses "rely" on the branch.

"There is a great deal to be said for banking in person," the councillors wrote.

"Simply put, residents cannot and will not receive the same level of customer service from banking online as they will from visiting your branch and speaking with someone face-to-face.

Ilford Recorder: Hainault councillors Luthfa Rahman, Sam Gould and Shah Ali are opposing the closureHainault councillors Luthfa Rahman, Sam Gould and Shah Ali are opposing the closure (Image: Hollie Wickens)

"We are concerned that the reduced numbers that we are seeing visit bank branches in recent years due to the pandemic is being used as a smokescreen to close down branches permanently."

Cllrs Gould, Ali and Rahman also referenced Pinewood Care Home and Hainault Forest Community Association, which both sit near the branch, as places used by people who they say need in-person banking.

Linda Porter, treasurer of Hainault Over 60's group which is based at the association's centre in Manford Way, told the Recorder she believes the branch "is well-used by a lot of elderly people".

According to Lloyds, its nearest branches to Hainault are in Loughton (3.56 miles away) and Ilford (4.41 miles away).

But Linda added: "It is the only local branch here. The nearest ones in Loughton and Ilford are not around the corner."

Lloyds also said people can use internet, mobile or phone banking and can carry out everyday banking services at the Post Office, also in Manford Way.

A spokesperson said: "When the branch closes in October, customers can continue to bank with us at the Post Office and can access cash at a number of free-to-use ATMs nearby."

Around 230 people have signed a petition, set up by the councillors, to save the branch.

It can be visited at redbridgelabour.org.uk/save-hainaults-lloyds-bank-branch.