According to a spokeman for the bank, there has been a 49 percent reduction in counter transactions in the last 12 months, compared to March 2020, and onlyeight customers use the branch exclusively for banking.
And so the bank has taken the decision to close the branch on October 14.
A Barclays spokesperson said: “The decision to close a branch is never an easy one. However, customers are increasingly using alternatives to branches to do their banking and, as a result, we are seeing a sustained fall in branch visits across the UK.
“This is reflected at our Horncastle branch, where we’ve seen a 49 per cent reduction in counter transactions in the last 12 months, when compared to March 2020. 84 per cent of customers who visit the branch are also using different ways to bank and only 8 customers use the branch exclusively for their banking.
“We will work with our customers and provide alternative options to ensure they can continue to manage their money and receive financial expertise when required. This includes working with the local community to find different, more flexible ways for our colleagues to continue to provide local banking support, such as through pop-up presences.”
Customers will be able to complete their banking using the Barclays app, Telephone Banking, Online Banking and Video Banking, and everyday transactions can be completed at any Post Office with the closest located in the Market Place.