Barclays announces 14 more branch closures

Tuesday, Mar 28, 2023

ISLAMABAD: Barclays will close another 14 branches at sites across the UK, two in Wales and 12 in England, the latest in a long line of closures announced this year.

It is the third time this year that Barclays has announced a set of branch closures. The latest announcement, on Friday, brings the total number to 58 so far this year.Barclays, Nationwide, Virgin Money, NatWest, Lloyds, Halifax and TSB have announced 132 closures between them, data from Link, a cash machine company, said.

The closures will affect local communities, giving some people fewer alternatives to do their banking. Banks have been closing branches for years as more and more people choose to do their banking online, reducing the need for physical banks.

But for those who are unable to bank online this can create issues.Jenny Ross, money editor at Which?, said: “Bank branch closures don’t just make access to cash more difficult for the millions of people across the country who rely on it, but also cuts vital in-person banking services, which are particularly important for customers who are not ready or able to bank online.

“Schemes introduced by the banking industry to protect these services, such as banking hubs, are a good start in plugging gaps left by the removal of physical branches, but they must be rolled out much more quickly if consumers are to feel their benefits.

“Also of concern is the prospect of cash-users having to fork out their own money just to make withdrawals. “The Government must look again at proposals to introduce guaranteed minimum levels of free access to cash.”