More than half of the banks in mid Wales have closed since 2015, new figures show.

Analysis from consumer champion Which? has shown a sharp decline in the number of bank branches open in areas across much of the UK compared to seven years ago.

Nearly two-thirds of banks in Arfon Dwyfor and Meirionnydd have closed since 2015, the figures show.

And that’s a trend that has also hit Ceredigion and Powys as well.

According to figures up to the end of April, eight banks have been shuttered in Ceredigion since the start of 2015, leaving 13 remaining in the area.

North Powys has lost half of its banks too with nine banks shutting there since the start of 2015, and eight remaining.

But the loss of banks from the high street isn’t going to stop anytime soon. Recently, Barclays announced plans to close its Lampeter branch – a decision that came weeks after it detailed plans to shut up shop in Porthmadog.

A Barclays spokesperson told Cambrian News: “The decision to close a branch is never an easy one. However, customers are increasingly using alternatives to branches to do their banking. As a result, we are seeing a sustained fall in branch visits across the UK.

“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.”

The banks says customers have a wide range of options to complete their banking including the Barclays app, Telephone Banking, Online Banking and Video Banking, and everyday transactions can be completed at any Post Office.

Post Offices, however, are also disappearing from our high streets, with the latest review of services indicating that 143 Post Offices are due to close across Wales under the current plans.

Barclays says the role of the physical branch is evolving, with fewer than 10 per cent of transactions now taking place inside a branch.

The bank says it is committed to adhering to the UK Access to the Banking Standard for any branch closure. “All of our customers will receive a letter, our decision to close document and posters will be displayed in branch, and colleagues will be on hand to assist customers with any concerns they may have, “ it said, adding: “We proactively engage with local businesses and the wider community to discuss the alternative ways customers will be able to undertake their banking locally

A spokesperson for NatWest told Cambrian News: “It may be useful to note access to cash is a key priority for NatWest and the bank has an ongoing commitment at an industry-level to preserving access to cash. NatWest is part of the Cash Action Group to ensure a commitment in preserving access to cash across the UK. It’s also the largest bank operated ATM estate in the UK and the bank’s partnership with the Post Office makes it possible for customers to deposit and withdraw cash at over 11,500 locations across the UK.

A TSB spokesperson told Cambrian News: “The decision to close a branch is never taken lightly, but our customers are banking differently – with a marked shift to digital banking.

“TSB is committed to a national branch network, but needs to ensure that we have the right balance between branches on the High Street and our digital platforms. We have created pop-up services in communities like Prestatyn, and Glynneath, where we have closed branches and it takes longer to get to nearest branch.”

TSB operates four branches in Wales following three closures last year. The three branches to close last year were Prestatyn, Cardiff Clifton Street and Glynneath. The four remaining TSB branches in Wales are based in Aberystwyth, Carmarthen, Swansea and Maesteg.

A Lloyds Banking Group spokesperson told Cambrian News: “We’ve seen fewer people visiting our branches in Wales over several years now, and this trend is continuing, with customers choosing to do their banking in different ways. Our network is important, but we need to make decisions to ensure we have the right branches in the right places, as we respond to customers doing the vast majority of their banking online.”

Lloyds said that when it makes a decision to close a branch, “we always make sure there is alternate suitable access to banking and cash, such as the Post Office, where people can do their everyday banking, alongside free to use ATMs.

But with banks disappearing, so too go free-to-use ATM machines.

Separate figures from LINK, a cash machine network, show there has also been a decline in the number of free-to-use ATMs across the UK in recent years.

Their data shows that between the start of 2018 and early March this year, the number of ATMs in Ceredigion dropped from 65 to 54.

The data shows that over the same period, the number of ATMs in Dwyfor Meirionnydd dropped from 54 to 41.

In north Powys, the number of ATMs in Montgomeryshire dropped from 39 to 32 then too.

The increasing use of online banking and contactless payments have led to concerns some will be left behind, or unable to access key services.

Which? chief executive, Anabel Hoult, said: “While the pandemic has accelerated the move to digital payments for many consumers, many are not yet ready to make that switch and require protection from an avalanche of ATM and bank branch closures that have left the UK’s cash system at risk of collapse.”

A bill to protect access to cash was announced as part of the Queen’s Speech in May.

The Treasury says the new legislation will ensure “continued access to withdrawal and deposit facilities across the UK”.

Economic secretary to the Treasury, John Glen, said: “We know that access to cash is still vital for many people, especially those in vulnerable groups.

“We promised we would protect it, and through this bill we are delivering on that promise.”

Full details on what will be included are yet to be published.

Which? welcomed the bill but said it “must ensure that clear requirements are placed on industry to meet communities’ need for cash”.

Its data found that nearly half (48 per cent) of bank branches across the UK have closed since the start of 2015, and seven constituencies have seen every one of their bank branches closed in recent years.

And LINK says that over 13,500 free-to-use ATMs have been cut from the UK’s network – a quarter of the 54,500 in operation at the start of 2018.

Recent research by the Royal Society of Arts estimates 10 million people in the UK would struggle in a cashless society.

The research suggests the elderly and those in areas with poor mobile or broadband connectivity have suffered most in the move to digital banking.

RSA researcher Mark Hall said: “For millions of people, their relationship with cash is critical to the way they manage their weekly budget.

With files from Cambrian News data services