Margate’s Barclays bank to close for good

The branch will close in May

Barclays bank in Margate will close this May.

The banking giant says the branch has seen a 21% decrease in transactions in the past two years and identified that only 213 customers use this branch exclusively for their banking.

In notification about the closure Barclays says: “Before we make the decision to close any branch, we think carefully about how it has been used so far.

“We consider how many customers have been visiting, what kind of transactions they’ve been making, and all the other ways they’ve been choosing to bank with us. We also take into consideration the availability of other branches in the wider community.”

The branch, at 66 High Street, will close its doors on May 7.

County councillor Barry Lewis has called it a ‘horrendous decision,’ adding: “This will hit traders and means the elderly who do not have internet banking will suffer.

“Yet again multi-national banks are putting profit before people.”

Following the closure the nearest branch will be in Queen Street, Ramsgate.