Barclays to close more UK branches by March 2024 and promotes digital banking By Investing.com

Investment.com | Editor Ambini Aishwarya

Published on 23/11/2023 at 09:40

Barclays (LON: BARC) has announced a further reduction in its physical presence with plans to close a further 16 UK branches by March 2024. The move forms part of the bank’s wider strategy to close nearly a third of its branches for next year due to a continuing decline in branch visits.

Customers are encouraged in areas affected by the closures, such as Eltham Cobham (LON:COB) and Liscard, to switch to electronic banking or use alternative branches. Barclays is committed to supporting customers during this transition period through local Barclays initiatives. These initiatives include flexible access to personal banking services at community centers and libraries.

To ensure customers continue to have access to basic banking services, there will be more than 200 offices across the country. These sites are designed to complement traditional post office services, which allow financial transactions such as depositing and withdrawing money.

In addition to offering alternative banking solutions, Barclays also focuses on helping customers adapt to digital platforms. The bank is expanding digital skills workshops and organizing scam and fraud awareness events. These efforts aim to educate customers on how to manage their financial needs safely in an increasingly digital world.

The latest announcement follows a report published today highlighting the planned closures by Barclays and their impact on communities. Customers in areas such as Farnham are advised to prepare for these changes by exploring online banking options or seeking in-person assistance at remaining branches or through local Barclays services.

Among the branches whose closures were mentioned above are those in Dereham and South Woodford. Although there is no official statement from Barclays regarding these specific closures, the bank has confirmed that services will remain available at post offices. The notable closure will be the Wallasey branch, which will close on 28 March 2024.

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This article was created and translated with the power of artificial intelligence and reviewed by an editor. For more information, see our terms and conditions.

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