A BANK has announced it will close one of its Oxford branches in the New Year.

Barclays Bank has announced that it will be closing its Cowley branch on February 18 2022.

The bank said it has decided to close the bank after seeing a 16 per cent reduction in counter transactions in the two years up to March 2020.

It also said that eight of ten of its customers at the branch use alternative ways to handle their finances, rather than going in person to the branch.

This includes customers using the Barclays app, telephone banking, online banking, and video banking.

The bank has said that everyday transactions can be completed nearby at the Post Office in Templars square, and the nearest free-to-use ATM is located at Lloyds on I Pound Way.

The nearest Barclays branch, however, is located on Cornmarket Street in the centre of the city or on The Square in Abingdon.

A spokesperson for the branch said that no redundancies will be made because of the bank closing – instead employees will be offered alternative roles within the bank.

To make steps easier for those who are not used to online banking, Barclays will be holding online ‘tea and teach’ sessions, where people can learn more about alternatives to branch-based banking.

Barclays, however, is not the only bank that has announced it will be shutting down.

Over the last year, several banks across the county decided to close its doors for good.

This includes HSBC’s Headington Branch on London Road and its Summertown Branch on Banbury Road.

A Barclays spokesperson 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 Cowley branch where there has been a 16 per cent reduction in counter transactions in the two years to March 2020. In addition, more than eight out of ten (88 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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