Barclays has announced its branch on Wallsend's High Street West is to close.
The bank, which is located in the Forum Shopping Centre and has traded since 1969, will cease operations on Wednesday, November 16. It comes at a time when customers are increasingly choosing to bank online and branches across the country continue to close.
In May this year, ChronicleLive reported on the closure of Barclays branches in Gateshead and Chester-le-Street, as the company said it was closing 40 banks around the UK in response to changing banking habits and the fact 70% of its business can be done digitally.
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A Barclays spokesperson said: “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 Wallsend branch there has been an 50% reduction in counter transactions in the two years to March 2020. In addition 90% of our customers at the branch are also using different ways to bank. We will work with our customers and provide alternative options to ensure they can continue to manage their money and receive financial expertise when required.”
Barclays says it is looking for a site where it can have a regular presence for colleagues to visit and where there will be support for customers. Everyday transactions can be completed at any Post Office, with the closest located at 57-58, High Street, Wallsend. The nearest free-to-use ATM is at the Post Office, 57-58, High Street, Wallsend. The closest Barclays branch is in Newcastle city centre.
The Barclays spokesperson pointed out how only 33 regular customers use the Wallsend branch exclusively for their banking and do not interact with the bank in other ways. The role of the physical branch is evolving, with fewer than 10% of transactions now taking place inside a branch.
All customers will receive a letter, the bank's decision to close document and posters will be displayed in branch, and colleagues will be on hand to assist customers with any concerns they may have. ‘Tea and teach’ sessions will be available for customers wishing to explore digital banking and other alternatives to branch-based banking.
The bank premises at The Forum, 19, High Street West, Wallsend, was opened by Martins Bank in early 1969, and was handed over to Barclays at the end of that year.
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