The Bourne branch of NatWest will close in September after the bank said the way people do business had changed.
The branch in the Market Place will close on Thursday, September 21.
There are currently three members of staff working at the branch.
A spokesman for the bank said that the way people choose to do business had “changed radically over the last few years” but said closure had been a difficult decision to make.
He said: “Between 2010 and 2015, mobile and online transactions have increased by over 400 per cent and mobile transactions alone have increased by 1,350 per cent.
“Since 2011 we have seen the number of transactions in the Bourne branch decline by 32 per cent.
“These customers are actively choosing to bank in different ways, with 64.3 per cent of customers choosing to use our digital banking options.”
The spokesman said that the bank would be communicating with customers affected by the closure and “proactively contacting vulnerable and regular branch customers”.
He added: “We have listened closely to feedback from local communities and have extended the time between announcing our decision and the branch closure to six months. This has been done in order to ensure our customers have time to consider the right banking options for them.
“We know that not all of our customers are comfortable and familiar with using online or mobile banking, so we have created a new specialist taskforce of NatWest TechXperts who will be dedicated to supporting our customers with training and support with digital skills.”
Of the staff members, the spokesman added: “We are doing everything we can to support them, including seeking redeployment opportunities wherever possible and ensuring that compulsory redundancies are kept to a minimum.”
The nearest other NatWest branch is 10.6 miles away in Stamford.
l The Bourne Co-operative Foodstore in the Burghley Centre will now close on Saturday, April 29.
The store, which employs 45 members of staff, had been originally earmarked for closure at the end of January but has been put back following consultation with the affected staff members.