A call for Pembrokeshire County Council to potentially change its banking arrangement with Barclays, after the bank announced it was closing its county town branch, is expected to be turned down next week.
Barclays Bank in Haverfordwest, located on the town’s High Street, is to close on May 10th.
The council has had a banking services contract with Barclays since 2013, with the most recent contract – for four years – signed last May following an independent review.
Councillor Huw Murphy, in a notice of motion to be heard by Pembrokeshire County Council’s Cabinet meeting of April 22nd, is asking the council to review its banking arrangements with Barclays following the announced closure.
“The loss of many banking facilities within Pembrokeshire over recent years has had a detrimental impact on many town centres such as Tenby, St Davids, Fishguard, Milford Haven, Narberth, Newport and Pembroke and Pembroke Dock and will soon impact Haverfordwest with the loss of Barclays bank to the town.”
He said the loss of a branch “not only impacts upon town centres and businesses but also disproportionately impacts the elderly who are less likely to embrace on-line banking options”.
After the Haverfordwest closure was announced, a spokesperson for the bank said that the Haverfordwest branch only had 32 regular customers who used the branch exclusively for their banking and do not interact with Barclays in any other way.
A report for Cabinet members says, in terms of the impact on Pembrokeshire residents, Barclays has said that it is “not leaving Haverfordwest and [will] continue to provide face-to-face support for those who need it” via community locations.
It adds: “Everything else can be done via alternative channels such as everyday transactions via the Post Office. We will be making personal contact with our regular and vulnerable branch users to discuss their options and guide them through alternative ways to bank.”
Two options are presented to Cabinet following Cllr Murphy’s motion, to retender the banking services contract, and, the favoured, to work with Barclays to ensure a community location is set up in Haverfordwest.
The report says the costs associated with moving to a new service provider “can be excessive and in some cases greater than the cost of the annual contract value,” adding: “Whilst the costs can vary between local authorities it can be in excess of £50,000.”
For the second, favoured option, the report says: “An integral part of the branch closure communication, Barclays advised that they will be setting up a community location in Haverfordwest.
“Whilst this is a change to how Barclays currently operate in Haverfordwest, this concept mirrors the successful implementation of a hub located within The Giltar Hotel in Tenby that operates twice a week.”
It adds: “Discussions have commenced with Barclays to see what the council can offer in terms of locations.”
Cabinet members are recommended to back the second option.
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