Bank set to retain its remote branches
BARCLAYS has pledged not to close branches in remote areas or where it is the last bank in town for the next two years, in a move that secures five south Wales outlets in the short term.
The bank is also launching a new cashback scheme enabling people to withdraw money at small businesses – but said that from 2020 its customers will no longer have a facility which allows them to withdraw cash over the counter at post offices.
The bank’s new cashback scheme should make it easier for customers to withdraw money at businesses in remote towns and areas without a branch or ATM.
Barclays said the freeze on remote and “last-bank-in-town” closures will see more than 100 branches, including several in South Wales, ring-fenced so that they remain until at least October 2021.
The list includes Bargoed, Risca, Tredegar, Treorchy and Ystrad Mynach.
The bank is also exploring ways to boost demand in branches generally, starting initially with pilots in 12 areas.
Barclays said it remains “committed to the Post Office framework” and customers and businesses will still be able to pay in cash, cheques and check their balance – but the facility for overthe-counter cash withdrawals will end from January 2020.
Cash withdrawal by cheque will still be available, subject to arrangement.
It is writing to customers who will be affected by the changes.
The move comes against the backdrop of a wave of bank branch closures in recent years. Latest figures show Wales has lost 43% of its branches within the past five years.
In January, Santander said it was closing branches in Penarth and Tonypandy. Last year, Lloyds Bank announced the closure of its Cardiff Bay branch and its city-centre business branch, while the Co-operative bank shut a branch in Aberdare, which had already seen the closure of its HSBC and NatWest branches.
Porth, Mountain Ash, Treorchy, Tonyrefail, Llantwit Major, Talbot Green, Ferndale, Pontypridd, Nelson and Ystrad Mynach have all been hit by bank closures.
In recent years Cardiff banks run by the “big four” – HSBC, Barclays, Lloyds and NatWest – have closed in Birchgrove, Cardiff Bay, Canton, Llandaff, Rhiwbina, Churchill Way and Whitchurch.
Commenting on the latest move Adam Rowse, managing director of branch-based banking at Barclays, said: “By maintaining last-in-town or remote branches over the next two years, and working with the community, we hope to increase demand and keep these branches viable.
“We also recognise that there are opportunities to support customers with access to cash where there is no branch or ATM nearby.
“We are launching a cashback offering working with merchants to give customers access to cash over the counter.”
Barclays’ new cashback scheme will enable customers to withdraw cash at businesses in remote towns and areas where there is no branch or ATM alternative within 1km.
It will launch in more than 200 locations from January 2020.
Meanwhile, Barclays is trialling how it can work with customers and communities, including MPs, councillors and business groups, to see if customer demand can be increased, which would help to make branches more viable in the longer term.
The 12 trial locations include Risca and Tredegar.
Part of the trial includes flexible branch opening hours and making technology available to extend services such as video banking.
Mr Rowse said: “We really want to focus on engaging customers in the local community.
“New technology allows even the smallest branch to become a full-service branch.
“We use video technology so our specialists across the country can help people with buying a home or starting a business or borrowing through a business or needing help or advice. ”
He said successes in the 12 trial areas could be quickly rolled out to other branches.
Mr Rowse continued: “We’re really working with the local community to find out what it is that they want.”