Barclays has opened a new branch following the closure of over 400 bank branches across the UK. The new bank will open in Woking town centre, described as a “vote of confidence” for the town’s high street.
The bank closed its previous branch in the town on Wolsey Walk at the beginning of the month and opened a new location on Commercial Way less than two weeks later, on October 13. Bosses at the Victoria Place shopping centre have described the opening as a “vote of confidence” for Woking’s High Street, celebrating the return of a trusted name to the area and the support it will provide for the community. The shopping centre also commended Barclays’ decision to invest in a new branch in the town, suggesting that it highlights the enduring value of face-to-face service and the importance of community-based banking. John Paul Jackson, centre manager at Victoria Place, said: “This is a major vote of confidence in Woking and in the high street. We’re thrilled to welcome Barclays to Commercial Way.
“Their arrival strengthens our mix of retail and services, supports the evolving needs of our community, and brings a trusted name back into the heart of the town.”
The new location’s opening comes as several banks close hundreds of branches across the UK, due to a major shift from in-person banking to online and mobile services.
This year alone, NatWest has closed 98 branches, Santander has closed 95, Lloyds (including Bank of Scotland and Halifax) has closed 215, TSB has closed eight, and Barclays has closed six.
According to Which?, banks and building societies have closed 6,561 branches since January 2015, at a rate of around 53 each month.
This represents 66% of the branches that were open at the start of 2015, including branches at 20 major current account providers. Barclays is the individual bank that has reduced its network the most, with 1,236 branches now closed.
NatWest Group (NatWest, Royal Bank of Scotland and Ulster Bank) has closed 1,505 branches – the most of any banking group. Lloyds Banking Group (Lloyds Bank, Halifax and Bank of Scotland) has shut down 1,423.