Barclays has confirmed that its branch in Shanklin is closing.
The company said footfall has continued to drop in the branch and it will be focusing more on digital.
‘Tea and Teach’ sessions will be taking place at the branch for customers wishing to explore digital banking.
The bank added that customers are able to undertake everyday transactions at the Post Office. Staff at the Shanklin branch will be relocated to Newport and Ryde.
Chris Maynard, Community Banking Director for Barclays Solent and Dorset, said:
“The way customers undertake their banking is changing as people increasingly use online, telephone and mobile devices.
“At Barclays Shanklin branch, customer usage has continued to decline by 10% in the last year alone and nearly two thirds [63%] of our branch customers now regularly use alternative branches, which is why we have taken the difficult decision to close it. This figure is even higher for business customers.
“We hope that the availability of our nearest Barclays branch at Barclays 7/8 High Street, Ryde, and access to services at the local Post Office located at 42 Regent Street, Shanklin, along with our range of digital channels will help to ease the transition for our customers.”
The company will close the High Street premises on 17 November.