The HSBC branch in Bargoed is set to close, forcing customers to travel to Blackwood to access vital bank services.
Caerphilly AM Jeff Cuthbert has raised “serious concern” about the closure and lack of consultation with customers and elected representatives.
Customers have been given three months’ notice before the branch closes on November 21.
Mr Cuthbert said the decision was made above the head of the local branch manager and he and other representatives were not contacted ahead of the decision.
He said: “There will be constituents of mine who will be inconvenienced by this decision. The prospect of travelling on buses to Blackwood to access some services will not be welcomed.
“There should have been clear consultation with local customers and with elected members before a final decision was made.
“I’ve written to HSBC to make my feelings known and I’ve called on them to offer as much assistance as possible to local customers before the planned closure.”
Caerphilly MP Wayne David and Bargoed Councillor Dianne Price also spoke out against the closure.
Cllr Price said: “I received no consultation at all and I’m one of their customers. It’s another one closing in Bargoed and that’s sad.
“I’ll be moving to another bank. The constituents are disappointed and have all said the same – they’ll be transferring to another bank in Bargoed.”
In a letter to HSBC, Mr David said: “Your decision to close your Bargoed branch of HSBC has sent out a wholly negative message about Bargoed.
“Also I am extremely disappointed that the bank has seen fit to have absolutely no consultation with anyone.
“I am formally asking you to reconsider your decision and to listen to what various stakeholders have to say.”
A HSBC spokesperson said: “Footfall in our branches has fallen dramatically and is accelerating. We have seen a 30% reduction in customer footfall over the last four years.
“It is never a decision we take lightly, but on occasions this has meant we have needed to close a branch and our Bargoed branch is a case in point.
“We worked with the small number of customers who use the branch to help them reorganise their finances ahead of the closure on Bargoed.
“All our personal customers have access to their accounts, to withdraw and pay in cash, at any UK Post Office and all residents of Bargoed will continue to have access to other banking facilities in the town and several fee free ATMs within the local area.”
They said no jobs will be lost and staff will be redeployed.
I believe that the truth is that banks don’t want the kind of customer’s that uses branches anymore. Branches cost a fortune to keep open, and the banks would rather you use the internet for your Banking. I think that most of the banks now have facilities with the post office for circumstances such as paying in etc. So I think that this is just the beginning of the end for local branches. Gone soon will be the days where a loyal customer would not just bank with them, but borrow, take a mortgage, insurance and investments. It makes you wonder where they will get their customers from in the future.
They closed newbridge branch aswell.