Several Isle of Wight banks have shut over the last ten years.

Once a fixture of the high street, banks and building societies have dwindled as more people have turned to online and phone banking.

At least 16 banks have shut on the Island since 2015, with many Island towns now not being served by a bank at all.

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The Isle of Wight currently has 12 banks and building societies:

  • TSB, Newport
  • Natwest, Newport
  • Santander, Newport
  • Barclays, Newport
  • Halifax, Newport
  • HSBC, Newport
  • Lloyds, Newport
  • Nationwide, Newport
  • Barclays, Ryde
  • Lloyds, Ryde
  • Nationwide, Ryde
  • Nationwide, Shanklin

Ryde also has a Barclays Local in the Town Hall Chambers.

Here are some banks that have closed their doors since 2015:

  • HSBC, Ventnor (2015)
  • Natwest, Cowes (2015) 
  • Natwest, Freshwater (2015)
  • Barclays, Shanklin (2017)
  • Natwest, Shanklin (2017)
  • Lloyds, Cowes (2017)
  • Lloyds, Bembridge (2017)
  • Lloyds, Sandown (2017)
  • HSBC, Cowes (2017)
  • HSBC, Shanklin (2017)
  • Santander, Ryde (2019)
  • Lloyds, Freshwater (2019)
  • Lloyds, Shanklin (2022)
  • HSBC, Ryde (2022)
  • Barclays, Ryde (2022)
  • Natwest, Ryde (2023)

Lloyds' mobile branches in Bembridge, Cowes, Freshwater and Sandown also shut in May 2024.

In December, Ryde's former HSBC branch sold at auction for £185,000.

The four-storey premises at the top of Union Street, Ryde, extends to 312 square metres, including the former banking hall and ancillary offices.

The property attracted interest, selling for £35,000 over the guide price of £150,000.