Isle of Man Bank, the national bank of the Isle of Man, has decided to shut three branches due to decline in customer demand.
The branches in Onchan, Ballasalla and Prospect Terrace, Douglas, will close their doors for good next February, the bank’s managing director Bill Shimmins told isleofman.com.
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The move follows the closure of branches in Kirk Michael last year and Laxey in January this year.
Shimmins said customer use has dropped by 30%, while online transactions have grown by more than 200%.
The bank will introduce a mobile banking facility in village communities.
"For our Prospect Terrace and Onchan customers, the Athol Street and Regent Street branches will be the nearest alternatives – less than 0.5 miles and 3 miles away respectively. For our Ballasalla customers, the nearest branch is Castletown, 2 miles away," Shimmins was quoted as saying by the website.
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By GlobalData"It is our intention to locate two additional cash machines in the Spring Valley and Onchan areas and we expect to have them operational at the time of closure," Shimmins added.
