Barclays Announces Closure of Coleraine Branch

Barclays Bank has announced that it will close its branch at 27-29 Church Street, Coleraine on Friday, 23rd February. This decision comes as part of a wider trend, reflecting the changing face of banking in the UK and worldwide.

The Changing Face of Banking

The way people bank today has changed dramatically. Fifty years ago, almost every banking transaction took place in a branch. Now, that number is less than 10 percent. More and more customers are opting for telephone, online, and mobile app banking.

At the Coleraine branch, there has been a 45 percent reduction in counter transactions in the last twelve months compared to the period from March 2019 to March 2020. Furthermore, 92 percent of the branch's customers are using alternative banking methods.

Ensuring Continued Service

Despite the closure, Barclays remains committed to the community. The bank plans to provide additional face-to-face access for banking services via one of their community locations. Further details, including the timings and the location of the new Barclays Local site, will be communicated to regular customers in the coming weeks.

Everyday transactions can still be completed at any Post Office, with the closest located at 15 New Row, Coleraine. Free-to-use ATMs are available within one kilometre at Danske Bank, Nationwide & Bank of Ireland, at the Diamond, Coleraine. The nearest Barclays branch is at 17 Castle Street, Belfast.

Supporting Vulnerable Customers

Barclays is aware that not all customers will adapt to these changes at the same pace. Only 36 regular customers use the Coleraine branch exclusively for their banking and do not interact with the bank in other ways. Barclays has committed to making personal contact with these regular and vulnerable branch users to discuss their options and guide them through alternative ways to bank.

Regulatory Obligations

The branch closure will be in accordance with regulatory obligations. All local customers will be informed of the decision at least 12 weeks before the closure via letter. Barclays will also make available a Reasons for Closure document.

Seeking Local Input

Barclays is seeking input on how to help smooth the transition for local customers. They're interested in hearing thoughts on the biggest impact of the closure on the local community and on the branch's customers, as well as what alternative ways to bank need to be provided to help customers and the community adapt to this change.

Despite the closure, Barclays remains committed to meeting customer needs in Coleraine. For further discussion, a call with Daniel Wallace, Barclays Deputy Customer Care Director for Northern Ireland, can be arranged.

For more information, please contact Barclays directly.