Ryde's Barclays Bank To Shut Permanently

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Friday, 6 May 2022 12:37

By Oliver Dyer @olidyer

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Barclays Bank is to permanently close its Ryde branch, Isle of Wight Radio has been told.

Customers who use the bank, on the High Street, have received letters informing them of the decision.

Isle of Wight Radio has been told the branch will shut its doors for the final time on August 4, at midday.

Falling footfall is being blamed, with the firm saying only 78 regular customers use the branch exclusively for their banking.

It says it "does not intend to make anyone redundant as a direct result of this closure".

It means the only Barclays bank on the Island will be at St James Square, Newport.

Barclays' Shanklin branch closed in August 2017.

*Updated

*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 Ryde branch where there has been a 14 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.”

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