Mobile banking service 'no longer required'

Penny has served communities across the island since 2015

A mobile banking service is to be withdrawn after 10 years as customers move closer towards digital, the Isle of Man Bank has said.

Penny, a van that acts as a mobile banking counter on wheels, was introduced in 2015 to replace three branches that closed in Onchan, Douglas, and Ballasalla.

The bank, part of the Natwest Group, said the service had "evolved during Covid-19 to educate customers on digital banking".

A spokeswoman said: "Our customers are using digital banking more than ever before," adding the service had "fulfilled its role" and mobile branch banking was "no long a required service".

She said: "We are committed to evolving alongside the needs of our customers and industry-wide shifts."

"Penny has served our community well over the last 10 years and our commitment to serving customers across the island remains unchanged," she added.

There are four remaining branches of the Isle of Man Bank across the island, in Douglas, Port Erin, and Ramsey.

The mobile service, which served a number of island-wide communities including Onchan, Kirk Michael, Laxey, and Ballasalla, will cease from Monday.

The bank said footfall had fallen by more than 70%, which signalled customers were "increasingly choosing alternative banking methods".