Barclays PLC said it will not shutter its branches in remote areas, or in places where it is the only bank available, until at least October 2021.
The British lender also said it will launch a cashback scheme enabling customers to withdraw cash at small businesses in remote towns and places where there is no bank branch or ATM, starting from January 2020.
However, customers will no longer be able to withdraw cash over the counter at post offices once the new cashback scheme comes into effect. The lender said it is committed to its post office framework and has boosted funding for it to ensure customers and businesses can continue to pay in cash, checks and check their balance.
Barclays said the halt on remote and "last bank in town" closures will see over 100 branches ringfenced. It is also working on pilot programs at some of the aforementioned branches to find a way to boost branch demand.
