TRADERS and councillors have spoken of their concerns ahead of the planned closure of two banks in Pontypool later this year.

As previously reported, the Pontypool branches of both Natwest and Barclays will close in October due to increases in online, mobile and telephone banking.

However, Pontypool Community Council (PCC) have penned a letter on the issue to Barclays, stating the closure could lead to a decrease in footfall and increasing pressure on the banking services in the town’s post office.

Torfaen’s AM Lynne Neagle and MP Nick Thomas-Symonds, have also expressed concerns.

Pontypool Community Council sent the letter to Barclays as part of a consultation, expressing their “deep disappointment” over the decision.

The letter reads: “The building which houses your bank is one of the town centre’s most iconic and is immediately recognisable [...] the last thing our town needs is another dead hulk in the centre of our shopping area sending out the wrong message to inward investors”.

While the letter acknowledged the national context of UK bank closures - with “more than 1,000 bank branches closing in the last two years” and “more than 600 in 2017 alone” - it said the “cut and run option” doesn’t take into account the “problems left behind”.

This includes falling footfall against the backdrop of attempts to regenerate and promote Pontypool by Torfaen County Borough Council and community groups such as Friends of Pontypool Town.

Pontypool councillor and trader, Gaynor James, said while the closures were part of a wider UK banking trend, traders are “not happy” about them.

“Pontypool needs banks because there are a lot of independent traders. I hope none of the other banks decide to do the same,” she said.

Pontypool Community Council added that there will be a “inevitable psychological effect” among Pontypool residents seeing a national bank expressing a “vote of no confidence” in their town.

Barclays community banking director, Adrian Davies, said Pontypool branch customer numbers were decreasing with 64 per cent using alternative branches.

He added that the availability of the Cwmbran Barclays branch four miles away, access to services at Pontypool’s Osbourne Road Post Office and digital channels will help “ease the transition” for customers.

A spokesman for Torfaen council added HSBC, Lloyds and the Principality remain in Pontypool and that the town has recently attracted independent traders and received £15million in development funding.

This funding aims to convert derelict buildings into homes, with an aim of “ultimately boosting footfall to local traders,” he said.

“While it will be a shame to see these banks go we have a lot more to be positive about in Pontypool”.

A joint statement by Torfaen’s AM Lynne Neagle and MP Nick Thomas-Symonds added there should be a change in the law to stop bank closures where there is a “clear local need” and that they had both met with Barclays to explain concerns, including securing a future for the building.

As previously reported, a Natwest spokesman said they had given customers six months to “consider the right banking options for them” and announced several schemes to help customers through the transition.

This included a “community banker” who will provide support and a “specialist taskforce of TechXperts” to give customers digital training.

Natwest’s branch will close on October 12 and the town’s Barclays branch will close on October 20.