Hello there. Hope you're feeling well today.
The wife got a letter from Barclays Bank today. We don't bank there but she has a savings account with them. It said that the bank's branch in Penarth was closing around the end of August and asking for our opinions. That in itself was a laugh. Like a hitman saying that he was about to kill me and wondering how I felt about it.
This in terms of the town is not good news coming soon after the previous closure of the Santander Branch (now a snack food place) . So, let's have a look shall we? The full website is as follows: BAR_9917459_UK - Penarth (home.barclays)
This online website which explains the background for their decision and it's worth a look. But before we do let's be clear. How can Barclays seriously make a final decision on this branch when the past 14 months have been markedly different from what we have been used to? When the rules have been changed how can they make a judgement on the previous one? When we are now slowly returning into a version of the old normal you make this decision now? It smacks of cowardice.
So let's make a start on the bank's report shall we? Firstly it provides a picture of the branch.
Except this is not a picture of the Penarth branch. I did take a picture of the actual branch but when I realised it included a car reg number I couldn't show it. Trust me though, Google it and you'll see.
So having explained to Barclays Bank what it's branch in Penarth actually looks like let's examine their actual reasons.
1) The number of counter transactions have gone down in the previous 24 months and 84% of the branch customers use other ways to bank like online and telephone.
Again we are in a pandemic. Whilst online/telephone is the way of the future the rate of the change has been adversely affected by Covid 19. Some of that traffic might return when the old normal comes back. I don't know that but neither does Barclays Bank.
2) Customers have used other methods since 2015.
And? Again customers using other methods does not mean they have left the branch behind. Customers actually like all options being available. Customers actually multitask you know. But take off the branch and a tool for the customer has been removed.
3) In the past 12 months 28% of the branch's customers have been using nearby branches.
Perhaps I should embolden this point In the past 12 months there has been a pandemic.
The definition of the word "using" is also unclear. How? Why? Perhaps they are key workers who used the cash machine in a Barclays closest to where they worked. Also note the word "nearby branches". The bank's definition of the word nearby is not I suspect most people's. I will be coming to that point later.
4) We've identified that only 84 customers use the branch exclusively for their banking
How is this an argument for closure? There may be 84 customers who use the Penarth branch exclusively for their banking but that also means there are more than 84 customers who use the branch. Customers who will be inconvenienced. Customers who will be more likely to consider other options than Barclays Bank if their service is depleted.
You can as it shows in the document conduct some bank business in the local Post Offices. However as it appears we need to explain to Barclays what their branch looks like we also need to explain the two Post Offices as well.
No one is questioning the skill of the Post Office staff. But neither branches are big. The nearest in Glebe Street only has two stalls (both not always open together) . When I've been there, given the variety of things the staff have to deal with there are always queues. This will clearly make it worse. The other office mentioned has only one stall. It's mainly a convenience store. So just imagine these places say, at Christmas.
In their document Barclays Bank state that they take into consideration the availability of other branches in the wider community. Really? The nearest bank branch according to the document is St David's Centre in the centre of Cardiff roughly 4 miles away. A journey which would take roughly ten minutes by train and longer by car as you would to consider the traffic and getting a car park space. Journeys which would cost the customer as well. Hardly "nearby".
In fact the nearest is the branch in Barry Town. Which though is actually closer is not a simple journey but it also shows that Barclays Bank not only doesn't know what their branch in Penarth looks like it also doesn't know the actual nearest branch to the one they want to close.
And if you look at the branches earmarked for closure they are across Britain but a lot of them appear to be in Wales, and I'm sure you could put the same arguments to all of them. For example the branch in the Bridgend Industrial Estate is earmarked for closure, but then given the effect of the pandemic on the economy how can you truly judge that branch either? Similarly the branch earmarked for closure in Cowbridge.
There may be an argument for downsizing branches but full closure? No.
You know Barclays Bank were founded by Quakers. It appears though they are acting more like devils.
Until the next time.