Major UK bank halts branch closures for two years

Barclays halts ‘Last In Town’ and remote branch closures for two years and launches a new cashback scheme

Major UK bank halts branch closures for two years. Source: shutterstock.com

Barclays bank announces it promises not to close branches in remote areas, or where it is the last bank in town for the next two years, as part of its commitment to the communities in which it operates. This will see over 100 branches ring-fenced and remain open until at least October 2021.

In addition, Barclays is stepping up efforts to avoid closures of last in town or remote branches. The bank is trialing how it can work with customers and communities (including MPs, councilors, business groups) to see if customer demand can be increased and help make the branches more viable in the longer term. There are 12 trial locations across the UK, with more to be announced. Part of the trial will include flexible opening hours and making technology available to extend services such as video banking.

Barclays will also introduce a cashback scheme enabling customers to withdraw cash at businesses in remote towns and areas where there is no branch or ATM alternative within 1km. This will launch in over 200 locations from January 2020.

Additionally, in areas where the bank is no longer able to maintain a physical presence, Barclays will open pop-up banking pods, providing face to face financial support and education, showing up at 300 locations by the end of 2021.

SEE ALSO: Digital business banking: how to choose the best option

Categories: All materials Banks News
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