Entire town left bankless after Barclays closes outlet and forces locals to travel MILES for nearest branch

It is one of 15 Barclays branches to cease operation by the end of the year.

The closing of branches across the UK comes as ministers plan to introduce new legislation to preserve cash and protect deposit and withdrawal services.

Barclays said they decided to shut down the coastal town’s branch after discovering that just 17 people used the branch as their only source of banking.

Those wanting to take out paper money will still have access to cash withdrawals at the local Post Office but if they wish to use a bank branch, they must travel to Lowestoft, which is a 30-minute car ride away.

Southwold residents will be completely cut off from accessing cash for a whole week in September when the Post Office will be closed for a week due to refurbishment.

The number of bank branches in the UK currently stands at around 5,000, according to The Telegraph.

This amount has shrunk massively in the last 23 years, as at the beginning of the century, this figure stood at 20,000.

New rules introduced by the Government will state that banks must provide cash services within a three-mile radius of rural customers, and just a mile for those who live in more urban areas.

The legislation will stop banks from closing unless there is an alternative service nearby.

Christine Wheeler, Mayor of Beccles, said she intended to contest Barclay’s decision.

Therese Coffey, MP for Suffolk Coastal, has assured her constituents that she will aim to work with local services to set up a banking hub in the area, which should maintain banking facilities.

DON'T KILL CASH LATEST:

• I won't force shops to use cash: Sunak refuses to support elderly and vulnerable
• Cash payments 'make a big difference' says small business owner: 'The money stays in the village!'
• Minister throws weight behind GB News’ Don’t Kill Cash campaign as Treasury vows to protect access

She mentioned Link, a cash network operator that runs cash machines across the UK.

John Howells, of Link, predicted that there would be 1,000 banking hubs opened within the next few years.

Currently, there are eight banking hubs ranging from Acton to Rochford.

He added: "The good news is that with the new legislation, every high street will continue to have free access to cash, and the Government has already stated that coverage should not decline."

Barclays has opened up "Barclays Local", a pop-up centre which offers personal banking services to customers but still has no option to withdraw cash.

The banking mega-giant has announced over 60 branch closures this year.