Barclays closure set to leave Aberaeron as 'No Bank Town'


Local elected representatives have expressed their frustration following an announcement by Barclays that their Aberaeron branch would be closing.

Barclays has announced it is to close its branch on Sgwâr Alban, Aberaeron on 31 May 2019, citing a substantial fall in the number of in-branch transactions and increasing use of online and telephone banking.

The decision to close the branch will leave the town without a single bank branch – following the previous closure of NatWest and HSBC.

Customers were informed by the Barclays that branches at Lampeter and Aberystwyth would remain open, and were also encouraged to use the Aberaeron Post Office as to partake in some banking duties.

Barclays’ decision to close the branch in Aberaeron follows the banks’ previous closure of branches locally in Llandysul and Tregaron.

Elin Jones AM said:

“With this closure announcement by Barclays, Aberaeron has joined Llandysul, Tregaron and others as ‘no bank towns’ – causing significant inconvenience and disruption to loyal customers and small businesses.

“As well as the loss of services, I am also concerned as to the impact the closure of the bank will have on the cash-point provision, and the subsequent impact this may have on residents and business.

“Alongside Ben Lake MP I have written to Barclays calling for an urgent meeting to further discuss their decision and its implications.”

Ben Lake MP added:

“It is bitterly disappointing to learn of yet another bank branch abandoning our communities. This announcement again reiterates the need for a fundamental re-think of the way banking services operate in rural areas.

“Poor broadband means that online banking is not an option for everyone, and even where connectivity is sufficient, online services are unable to meet everyone's needs, or cater for what remains a largely cash-orientated local economy.

”One possible solution to maintain access to banking services in rural areas is for banks to co-locate in banking 'hubs', rather than vacate our high streets. This is a proposal that I am putting forward in a Bill which is currently before Parliament, and alongside greater resources for Post Office services, one that I hope other MPs will support."

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