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Newquay's Bank Street is set to lose its last bank

Newquay's Bank Street is set to lose its last bank

Published by Sarah Yeoman at 8:36am 22nd July 2020. (Updated at 9:19am 22nd July 2020)

Bank Street in Newquay is set to lose its last bank, as Barclays is set to close.

It has been announced that the town centre branch will close permanently from the 23rd October.

The loss has been described as a 'bitter blow' as the high street struggles to recover from the impact of the coronavirus crisis.

Local councillor Geoff Brown has written to the company, explaining that many senior residents and those on low incomes will find if difficult to travel to an alternative branch.

He says many people are still not confident with online or telephone banking and is calling for support for the bank's customers.

Mr Brown said: "The loss of the last bank in Bank Street – do we call it now Bankless Street?"

It is understood that no staff will be made redundant, and staff members will be offered other jobs within the company.

The second Barclays branch in Newquay, located on Chester Road, will still remain open.

money

"I have written to the company emphasising my disappointment. This is yet another blow to our high street as it struggles to recover from the economic impact of Covid-19.

"This will be a bitter blow to many of our senior residents and those on low income who find it difficult travel to an alternative branch. As the only remaining bank in Bank Street, many people have switched in recent years to Barclays in order to maintain the face to face contact that they so greatly value.

"Many of our residents are still not confident with online or telephone banking and sadly the advent of exceedingly clever scammers make this alternative quite risky for some of our more vulnerable community. I would urge the Bank to support customers who now have no choice but to move to this style of banking with additional support, guidance and security during the transition period.

"Barclays have stated they will not make any staff redundant which is good news but sadly the Bank seems to be following the ever growing trend in banking, of forcing people either online or to telephone banking, which is clearly a cost saving measure and has nothing to do with customer service."

Geoff Brown, Newquay Councillor

barclays bank street newquay
Barclays on Bank Street in Newquay town centre

Barclays says there has been a 21% reduction in counter transactions at the branch over the past two years, and that 85% of customers are also now using different methods of banking.

Virtual ‘tea and teach’ sessions will be offered to customers wishing to explore digital banking and other alternatives to branch based banking.

“The decision to close a branch is never an easy one. However, customers are increasingly using alternatives to branches to do their banking. As a result, we are seeing a sustained fall in branch visits across the UK.

“This is reflected at the Bank Street, Newquay branch, where there has been a 21 per cent reduction in counter transactions in the two years to September 2019. In addition, over four fifths (85 per cent) of our customers at the branch are also using different ways to bank. The nearest Barclays branch is at Chester Road, Newquay a mile away.

“We want to ensure that everyday banking remains accessible for all our customers, so we will work with them to ensure they can continue to manage their money and receive financial expertise when required.”

Barclays spokesperson

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