Barclays Bank has defended its decision to close 27 branches, saying more customers are banking online and it doesn’t need as much physical presence on high streets
This will reportedly bring the number of planned and completed bank branch closures to 103 by the end of 2022.
Barclays has confirmed the closure of 27 more branches across the UK, citing increased use of digital banking.
The bank said its customers are increasingly choosing to do their banking through digital channels, so it will reduce the number of its underutilized branches.
Barclays said it will continue to support communities through “smart ATMs” and through the post and pop-up presences with 50 locations in local spaces such as community centres, libraries and business centres.
Smart ATMs allow customers to perform a wider range of banking tasks, such as: B. depositing checks and transferring money between accounts.
A Barclays spokesperson said: “We recognize that some customers are not yet ready to make the transition to digital and as such Barclays is one of the driving forces behind the shared banking infrastructure and is supporting the Cash Action Group to ensure that customers still need physical provision of access to cash, the industry provides it.
“We continue to review and adjust our branch presence to ensure it reflects the way our customers are increasingly choosing to bank.
“We will always announce every branch closure 12 weeks in advance, explain the reasons for the decision and show alternative branches and banking channels.
“This includes working with the local community to find other, more flexible ways for our colleagues to continue to provide local banking support, such as through pop-up presences.”
The lender claimed the number of digital customers has grown to 10 million in nine years and that more than 70 percent of banking transactions can be done digitally, while less than 10 percent of transactions now take place in the branch.
Barclays is the latest of several banks to announce major closures.
Last month, Santander announced it would be reducing store hours from mid-July, defending the decision as a response to “long-term trends in customer behavior”.
This comes just a few weeks after Nationwide announced it would be eliminating eight of its toll-free phone lines.
According to Link, at least 277 bank branches are expected to close by the end of 2022.