A Croydon high street will lose its only bank as NatWest has announced it will close its branch in Lower Addiscombe Road in January.

The bank said counter transactions have decreased by 64 per cent in the past three years, and claims the branch was used by just four personal customers on a regular basis.

It will close for good on January 17, 2023.

Councillor Sean Fitzsimons who uses the bank and lives nearby said: “I live locally and usually use the cash point before I go shopping.

“I think it will be detrimental to the area, it was the last bank left, over the years we’ve lost Barclays and Santander.

"I know that bank business is declining but it is a key part of the high street.

“The expectation is that we have to go to Croydon high street which may benefit Croydon but it will reduce the footfall in Addiscombe and environmentally it is better for people to go their local shopping area.”

As well as a Natwest bank in Croydon town centre, customers can use banking services as Post Office branches.

A NatWest spokesperson said: “As with many industries, most of our customers are shifting to mobile and online banking, because it’s faster and easier for people to manage their financial lives.

“We understand and recognise that digital solutions aren’t right for everyone or every situation, and that when we close branches we have to make sure that no one is left behind.

“We take our responsibility seriously to support the people who face challenges in moving online, so we are investing to provide them with support and alternatives that work for them.”