RESIDENTS and businesses in the Yelverton area say they are appalled by the announcement that the last bank in the village is to close.

The tiny HSBC branch at Leg o' Mutton is only open three mornings a week — but serves a large area including Princetown, Dousland and Buckland Monachorum.

Sue Callow, licensee of The Rock Hotel in Yelverton said: 'Midland Bank, as it was then, opened on that site in the 1940s because my grandfather pressed them to open a branch, and we have used it three times a week ever since then. We do all our banking there.

'Fifty percent of our takings are in cash and you are only insured to carry a certain amount. Banking three times a week is a struggle as it is — now we are going to have to drive to Derriford which isn't very environmentally friendly and time is precious too.'

Mrs Callow said a lot of elderly people lived in Yelverton and used the bank. They would now be forced to drive, if they could, or get a bus to Tavistock to do their transactions.

'The excuse is that it's not taking enough money to warrant it being open — that's rubbish. HSBC say they are the world's local bank — now they're taking ours away.'

Yelverton resident Sonia Wright said: 'My husband has a small business and I use the bank every week. All his customers pay by cheque, so I'm always there paying in. Now it will mean I have to go to Tavistock or Derriford. Like most people we are trying to cut down, but this will cost us financially, as well as being bad environmentally and it's going to be very inconvenient.

'I also think it's going to have a knock on effect for the other businesses at Leg o' Mutton. They've all been affected by the car parking charges that have been implemented there. I would go to the corner shop there because I'd been to the bank, or use the fish man because he was there when the bank was open — these people will all be affected.'

Richard Eales from The Corner Shop at Leg o' Mutton said: 'We've been battling with everything up here in the last few months, what with the car park charges being introduced, this is just another nail for us.

'People here are very upset about the bank going — we have a fairly loyal group of customers but this may mean they change their habits and won't come over here — it's not good at all.'

Buckland Monachorum resident Hazel Smith said she was 'disgusted' at the bank's forthcoming closure.

Mrs Smith said: 'This bank covers a really large area and it's always busy, quite often, there are queues out of the door. I know a lot of businesses use it as well as residents. There used to be three banks in Yelverton and this is the last one — I know a lot of people are very angry about this.'

Tim Pie, HSBC spokesman, said the decision to close the Yelverton sub branch was 'a very difficult one' which had been taken 'at the highest level'.

Mr Pie said: 'Midland opened this branch after the second world war. We understand the effect on our customers and we do regret the effect it may have on the community, but the branch has had declining customer use over many years, to the extent that last year, I don't believe a single account was opened from the branch.

'People don't use banks as they used to, with the rising popularity of internet and phone banking.'

Mr Pie said HSBC customers in Yelverton should have received letters warning them of the closure, which takes place on December 12.