Another ‘High Street’ bank has announced the closure of its Crewkerne branch. Barclays Bank in Crewkerne will close this year on September 7th. The reasons given for its closure are that the number of counter transactions have gone down considerably in the last 24 months and that at least 75% of branch customers are also using other ways to do their banking, such as online and by telephone.
Barclays Bank UK Plc have stated: “In the past 12 months, 55% of this branch’s customers have been using neighbouring branches. We’ve identified that only 93 customers use this branch exclusively for their banking. Proposals to close any branch are made by Barclays local leadership teams and verified at a national level ahead of any closure announcement.” Customers of the Crewkerne branch of Barclays Bank were informed of the decision to close it, on Friday May 25th, with many expressing shock and disbelief at the announcement.
With the closure of the NatWest branch in Crewkerne scheduled to take place on June 13th, the Lloyds Bank in Market Street will be the only ‘high street’ bank with a presence in the town when Barclays closes its branch in September. Financial analysts have previously predicted that because of the way that customers are now managing their accounts, with more people going online, there will be no banks left on the high streets within the next three to five years.
The nearest Barclays branch to Crewkerne will be the Chard branch in Fore Street and the Yeovil branch in King George Street. A valid point that many customers forget when a bank announces a branch closure, is that it will also include the removal of its ATM, a cash-point service which is in constant use throughout the day and sees increased usage for obtaining ready cash, when other counter services are closed.