Rumours the Epsom branch of the Halifax bank is to close have been quashed by the Lloyds banking group which owns what was once Britain’s largest building society.

Reports that 550 smaller Halifax branches and agency counters were destined for closure were described as one of the biggest bank culls in recent history.

The Epsom branch of the Halifax is vulnerable because it is located opposite the busy Lloyds TSB branch in the High Street and there are other nearby branches of the Halifax in Banstead, Leatherhead, Sutton and Worcester Park.

But a spokesman for Lloyds Banking Group said there were no plans to close the Epsom branch of the Halifax bank and the closure programme was restricted to agency counters located in estate agents, solicitors and financial services offices.

A spokesman for Lloyds said: “Contrary to a recent media report, the 3,000 Lloyds Banking Group bank branches are not included in this review. Bank branches are a core and very important part of the group's retail banking model and will continue to be so.

“Agency counters are not Halifax branches. They are bank counters operated under license by a third-party business like an estate agent, solicitors or financial advisor and the staff in these branches are employed by the agent rather than the Halifax. Agency counters offer basic services such as paying-in and withdrawing money, not the full range of services available at Halifax branches.

“All customers potentially affected by these changes have all been written to.”