TAVISTOCK is to lose its second high-street bank in a little over a year as Barclays confirmed it is shutting up shop in September.

Last June, HSBC pulled out of the market town for good, closing its doors to ‘reflect market trends’ and its near neighbour said it would be doing the same for similar reasons.

Barclays said the number of customers using the Bedford Square bank had shrunk by 48 per cent, with only 25 customers actually using it on a regular basis.

Age UK Devon said the bank’s closure on September 23 would be a ‘huge loss’ with Tavistock BID’s Janna Sanders describing the move as ‘not good news for the high street’.

The Barclays spokesperson said the decision to close the branch was not an easy one, but customers were ‘increasingly using alternatives to branches to do their banking.

The Barclays spokesperson said: ‘The decision to close a branch is never an easy one. However, customers are increasingly using alternatives to branches to do their banking and, as a result, we are seeing a sustained fall in branch visits across the UK.

‘This is reflected at our Tavistock branch, where we’ve seen a 48 per cent reduction in counter transactions in the last 12 months, when compared to March 2020.

‘In addition, 88 per cent of customers who visit the branch are also using different ways to bank and only 25 regular customers use the branch exclusively for their banking.

‘We will work with our customers and provide alternative options to ensure they can continue to manage their money and receive financial expertise when required.

‘This includes working with the local community to find different, more flexible ways for our colleagues to continue to provide local banking support, such as through pop-up presences.’

Barclays said their customers have a wide range of options to complete their banking, including the Barclays app, telephone banking, online Banking and video banking, while transactions can be completed at any Post Office, with the closest at Abbey Place. The closest Barclays branch is at Armada Way, Plymouth

The spokesperson added: ‘The role of the physical branch is evolving, with fewer than 10 per cent of transactions now taking place inside a branch. We are committed to adhering to the UK Access to Banking Standard. All of our customers will receive a letter, our decision to close document and posters will be displayed in (the) branch, and colleagues will be on hand to assist customers with any concerns they may have.

‘We will be proactively engaging with local businesses and the wider community to discuss the alternative ways customers will be able to undertake their banking locally.’

The bank said it would still have an active presence in the community ‘via new and alternative physical touchpoints. We plan to provide additional face-to-face access for banking services via one of our community locations from the point of closure.’

Tavistock BID manager Janna Sanders said: ‘Obviously, it’s going to be a huge loss to the high street, with the second bank in quite a short space of time closing. It means that we have another big shop space to fill.’

Devon Age UK chief executive Sophie Littlejohn added: ‘Many older people have a strong preference for in-branch banking, with face-to-face services allowing the chance to talk to people – an important component of tackling loneliness in our communities. In-branch banking also offers peace of mind and the security of seeing bank transactions take place and receiving a paper record to prove it. Additionally, a large percentage of older people are not digitally connected and therefore will find on-line banking challenging and stressful.’

Tavistock Town Council said it would be a matter of concern to both the council and the community. The council would be working with Barclays to explore what could be done to assist customers, ‘with a particular focus on those who may, for very good reasons, continue to need access to some services on a personal basis.’