Stowmarket bank set to close its doors this summer

Barclays is set to close their Stowmarket branch later this year

Barclays is set to close their Stowmarket branch later this year - Credit: Google Street View

Barclays is set to close its Stowmarket branch later this year after a drop in counter transactions in the past 24 months. 

With 84% of branch customers using other ways to do their banking, such as online and by telephone, the branch will close its doors on Friday, July 9.

Statistics from the Barclays website show in the past 12 months, 36% of the Stowmarket branch's customers have been using nearby branches, and only 148 customers use the bank exclusively for their banking. 

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

“This is reflected at the Stowmarket branch where there has been a 16 per cent reduction in counter transactions in the two years to March 2020. In addition, 84 per cent of our customers at the branch are also using different ways to bank.

“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.”

The nearest Barclays branch is in Ipswich just under 12 miles away. 

Most Read

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter