Barclays have confirmed they are planning to close their branch in Ystrad Mynach – the last remaining bank branch in the town – “on or before” Friday, January 17, 2025.
The closure is the fifth announced in Caerphilly County Borough, with Bargoed closing last April, Caerphilly closing in October, Blackwood in March and Risca in May.
According to official documents released detailing the reasons for the closure, the company said most people are “choosing to bank using our app, and online or telephone banking”.
Data published by Barclays claims that only 36 customers currently use the branch “regularly”, with 89 per cent of customers preferring to bank remotely. They also say that eight per cent of Ystrad Mynach’s customers have used other “nearby branches” recently.
Once this branch closes, the nearest branches will be in Newport or Cardiff.
Other closed branches, including Bargoed, now have weekly drop-in sessions at the libraries, with this a possibility for Blackwood and Ystrad Mynach upon closure.
A banking hub operated by the UK’s cash machine network operator LINK is due to open in Risca once the branch there closes.
Barclays said: “We want to reassure you that we’re here to help. We’ll stay in your community and you’ll be able to talk to us in person.
“We’re finalising the details of where we’ll be based, and when, to support you with your banking, and we‘ll share the details locally once confirmed.”
They are planning to consult with the community to understand the reaction to the closure and to receive any feedback on the decision, with the plan to publish the findings in a booklet titled ‘branch closure feedback’ which will be available at the branch or online for people to read.
Hefin David, Caerphilly’s Senedd member, said the news was “incredibly disappointing” for all local residents, who will now be left without a bank.
Barclays has closed more than 70 branches nationwide in the last year, and is not the only big name bank to be closing a number of branches, with HSBC closing its Risca branch in 2016, and its Blackwood branch in July last year.
Any customers with concerns are invited to email deputy customer care director for Wales and West Alan March at [email protected] or call 03457 3453452.
