CLWYD West MS Darren Millar has condemned the decision by Barclays Bank to close its Colwyn Bay branch later this year.
Mr Millar received a letter from the bank yesterday informing him of their decision to close the branch at 23 Conway Road in Colwyn Bay on Wednesday, September.
Barclays says transactions at the branch have decreased in the past two years, with just 80 customers using the branch exclusively for their banking.
There has been a 16 per cent decline in counter transactions, an 11 per cent decline in cash withdrawals, and a 25 per cent drop in cash deposits.
With the town having already lost several banks in recent years, the MS is concerned for customers, staff and the vacancy it will leave in the town centre.
Mr Millar said: “In recent years Barclays have closed a number of banks in North Wales, totally disregarding the needs of residents and businesses here, I am therefore not shocked by their decision to now close the Colwyn Bay branch, but I am extremely disappointed and concerned for customers and staff.
“They are abandoning a very loyal customer base of individuals and businesses in the town which will now face significant inconvenience when trying to access banking services.
“Banks are constantly telling us that the reason for bank closures is due to a change in the way people bank today, with more of their customers opting for online banking, however there are still many people, particularly the elderly, who like to bank in person and it is a great worry that this option is being take away from them.
“I also feel for businesses who are reliant on the town centre bank and I will be writing to Barclays to outline all of my concerns regarding their proposals.”
He added: “Bank closures have been commonplace in recent years and I have repeatedly raised my concerns about this in the Senedd chamber.
“As I have previously said, we really need to see a long term plan to secure banking services in local communities so that everyone can access face to face services close to where they live. Sharing premises, the development of partnerships with other firms, and mobile banking services may help to achieve this aim.
“Having an accessible local Branch is important for older people, those without transport, those without internet access, shopkeepers and small businesses. It is very difficult for many customers to travel to those Branches which remain in other locations, which in this case would be either Rhyl or Llandudno.”
All customers of the Colwyn Bay Barclays branch will be informed of the closure 12 weeks before via a letter.
Although the branch is closing, Barclays have said they will still have an active presence in the community “via new and alternative physical touchpoints”.
They also plan to provide additional face-to-face access for banking services via one of their community locations – from the point of closure.
The bank's website says customers can visit Barclays banks in Llandudno and Rhyl, the two Post Office branches in Colwyn Bay, and that there are two free cash machines available to them in the town.
Announcing recent closures in the UK, Barclays said: “We continue to review and adjust our branch footprint to ensure it reflects the way that our customers are increasingly choosing to do their banking. We will always give twelve weeks’ notice of any branch closures, explaining the rationale for the decision, as well as highlighting alternative branches and ways to bank.
“This includes working with the local community to find different, more flexible ways for our colleagues to continue to provide local banking support, such as through pop-up presences.”
In recent years, Barclays has closed branches in Abergele, Amlwch, Bala, Barmouth, Caernarfon, Denbigh, Flint, Holyhead, Llanrwst, Porthmadog, Prestatyn, Queensferry, Ruthin, and Wrexham.
Here are the main reasons why Barclays say the Colwyn Bay branch is closing:
- The number of counter transactions has gone down in the two years to March
- 2020, and additionally 82% of our branch customers also use other ways to do their banking such as online and by telephone
- Customers using other ways to do their banking has increased by 14% since 2015
- In the past 12 months, 55% of this branch's customers have been using nearby branches
- We’ve identified that only 80 customers use this branch exclusively for their banking
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