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Barclays closure means Watton will lose last remaining bank

Barclays says only 12 regular customers use the bank exclusively for all their banking needs.

Source link The small town of Watton in Norfolk, England, is set to lose its last remaining bank after Barclays announced the closure of its branch.

The closure will leave Watton, which has a population of 8,000, without a single bank for its residents to access, potentially making access to banking services more difficult for those living in the area.

Barclays made the decision after an analysis of the branch usage in Watton showed that the available banking services no longer justified the costs associated with maintaining the outlet. It is reported that the number of customers visiting the branch has been steadily declining in recent years, and the bank has decided it will no longer be profitable to keep the outlet open.

The news has been met with sadness from local residents, who appreciated the presence of a bank in their local area. Barbara O’Riley, speaking on behalf of the local residents, said, “It’s just not fair that our town is losing the last remaining bank. Many elderly people who have never learnt to use digital banking rely on the physical presence of a local bank, and without one, they are going to be amongst the worst affected”.

The closure is expected to take place in October 2020, and Barclays have offered customers the chance to bank through Post Office services and app-based digital banking as alternative options.

With this closure, Watton residents are undoubtedly going to be facing a difficult situation. The bank’s presence in the area provided much-needed convenience, and it is hoped that alternative services will rise to the challenge of helping the town adjust to life without a bank.

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