Lloyds Bank is shutting the popular Museum on the Mound, at the historic old Bank of Scotland head office in the heart of Edinburgh

The museum is visited by more than 50,000 people a year and was opened 11 years ago by author Ian Rankin. It will close at the end of December.

The eight room museum, which is free and popular with school groups, is known for its exhibition of a million pounds, Scotland’s oldest banknote, and an interactive display on safe-cracking.

It also shows the Bank of Scotland’s original founding act from 1695, the ledger to attract its first investors and the bank’s 18th century iron money kist or chest.

The closure decision has dismayed supporters of the museum, and will lead to several job losses.

Cllr Alex Staniforth, the Green’s culture spokesman, said: “It would be a real shame to lose the museum, which is a valuable educational resource for local schools as well as a visitor attraction, because Bank of Scotland wants to save a bit of money.

Lloyds, however, said that the closure of the museum did not mean that the future of the entire historic site on The Mound, and its landmark building, was in question.

The museum is within the imposing 19th century building, which was completed in 1878.

“It remains a core site for the Group,” a spokesman said.

He said material owned by the banking group will be returned to its Edinburgh archive site.

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