Harold Hill’s Santander bank will permanently close in July.
Santander announced on March 25 it would close 111 branches across the UK by the end of August, citing the growing trend of customers using mobile and online banking.
The branch on Farnham Road will close on July 22 following a spate of shop closures in Harold Hill’s shopping centre.
Santander head of branches Adam Bishop said it was a "difficult decision" but the business will provide support to customers to find alternative ways to use the bank.
He added: “We continue to believe that branches have an important role to play and we expect the size of our network to remain stable for the foreseeable future.
“We are committed to supporting our customers and responding to changes in the way customers want to access services.”
Reacting to the news, community activist Dave Ainsworth was worried about the number of businesses closing down in the area.
He said: “This will have a bad effect on Harold Hill’s remaining shops.
“There’s an old saying- ‘where you get your money, you spend your money’, and if people can no longer go to the bank on the high street, they won't shop there.”
The bank claimed that over the two years before the pandemic, in-person bank transactions fell by 33 per cent and dropped by a further 50pc in 2020.
Meanwhile, mobile and online transactions have grown by 20pc each year and almost two-thirds of overall transactions are now digital.
However, age remains a significant factor for using online banking, and last March charity Age UK claimed there were 3.4 million people over 65 who have never used the internet.
Moreover, 77pc of over 70s are likely to have very low digital engagement, with less than 10pc shopping and managing their money online, according to research by Lloyds Bank.
Santander said most closing branches are within three miles from another branch, half a mile of at least two free ATMs and a mile from a Post Office.
The closest remaining branch for Harold Hill customers is in The Liberty Shopping Centre on South Street.
Santander customers can call 0800 085 0879 for help and information about the closures.
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