A thriving part of Bournemouth's shopping sector will lose a branch of a building society when it closes later this year.

Southbourne will see their branch of Nationwide close this autumn.

It is due to transactions at the branch dropping by 15 per cent over the five years up to 2020.

Read more: Another NatWest branch to close in Dorset next year

A spokesperson for the building society said: "Branches continue to play an incredibly important role for Nationwide and we firmly believe there is a bright future for them in providing members valued face-to-face service.

"We recently extended our Branch Promise, meaning we will not leave any town or city where we currently have a presence until 2024. That’s a vastly different position from many of our competitors who continue to close significant numbers of branches.

“While we are not closing branches in large numbers, we must always consider whether it is the interest of our wider membership to keep open a branch that is not sustainable.

Read more: Lloyds Bank in Southbourne closing for good 

"This is the case in Southbourne where just 0.8% of members use the branch exclusively and frequently. Transactions at the branch also reduced by 15% over the five years up to 2020, and have dropped a further 36% since then.

“We have three other branches within a three-mile radius of Southbourne with good transport links, including Christchurch under two miles away, and we will support the small number of vulnerable members who use the branch, helping them to find other ways to access their money via nearby branches, online or over the phone.

"The Southbourne branch will close on 3 November. If members need any type of support they can speak to our colleagues in branch or call 0345 2661216.”

In 2014, Barclays closed their Southbourne branch, with HSBC shutting in 2016, Lloyds in 2021 and Natwest earlier this year.