Popping to the bank soon won’t be the reason to come to Newquay’s town centre with the last bank Barclays set to close blaming a reduction in counter transactions.
It’s going to be bankless street, this is the last bank in the town centre and it’s a huge deficit to the town.
In around 1890 banks began to dominate Newquay's 'Front Street' so it was renamed 'Bank Street'. Once around six banks lined the street but they have now nearly all changed use to shops and cafes.
The Coronavirus pandemic and the need at many places to use contactless or card payments is a factor now speeding up the digital banking revolution.
People will get used to not using cash which will reduce the amount of cash a lot more.
Cornwall Councillor Geoff Brown complained to Barclays about their closure and was told 85% of their customers use online or telephone banking.
What about the 15% who value face to face contact, that’s a real concern particularly as our elderly residents are much more vulnerable to scamming.
Barclays are retaining their out of town branch in Newquay and have said nobody will lose their job when the Bank Street branch closes on the 23 October 2020.