The news that Barclays Bank, known over the years as the fishermen's bank, is to close in Polperro on April 7 has shocked villagers, most of whom only found out on Monday, when customers who visited the branch were given letters over the counter.
This will leave the village without a bank and residents are angry because they say that Barclays have gone back on their word after giving customers assurances they would remain open for the forseeable future after the Midland Bank pulled out three years ago.
South East Cornwall MP Colin Breed has said he is appalled that such a vital service will be lost in Polperro. 'With our Post Offices under threat and the rate of bank closures showing no sign of slowing, people in rural areas face being left without any financial services at all' he said.
Personal account holders will be able to draw cash up to the limit of their credit card and pay in cash and cheques free of charge under an arrangement Barclays has made with the village Post Office, but there are no such facilities for business accounts.
Polperro traders will now have to transport large amounts of cash in the summer season and collect their change from the nearest branch in Looe, which they say will be a security nightmare. With no parking facilities nearby they will have to park in the Millpool car park and carry their deposits into the town.
Caradon councillor John Yaxley of Yaxley's store, says the tourists who come to Polperro will now have nowhere to obtain cash as there is no cash machine in the village either, and they will have to go into Looe where they will end up spending their money. 'Polperro already loses thousands of pounds a year because of lack of facilities and this is just one more nail in the coffin' he said. Partner Jenny McGill said Polperro was sending away the tourists. 'We are going backwards not forwards' she said. 'The shops are getting fewer and we are losing community life'.
Postmaster Tony White said that overall the loss of Barclays would be a sad day for the village. 'I stand to lose 30 per cent of my business when the government makes changes to benefit payments' he said, but the knock on effect will in the end mean about 50 per cent which will make me unviable. The bank business will help a little, but it won't compensate for what I will lose.
Restauranteur Neville Jolliff's business is housed at the rear of Barclays and he found a letter on the doormat when he arrived back from holiday informing him the whole building is to be disposed of.
'Obviously I will now have to consider what my next step will be' he said. 'I have been in business for the last 15 years and there has been a tea room or restaurant on this site since the 1930's'.
Terry Bicknell of the Blue Peter Inn said Barclays decision was terrible. 'Ninety per cent of the income in Polperro is from visitors and now we will have no financial facilities for them at all' he said. 'We will just have to watch the village's life blood drain away elsewhere'.
Village Yokel owner Teddy Pilcher said that local businesses were so angry with Barclays that many were looking into the Giro Bank as an alternative as a strong protest.
Weatherall Green and Smith have already been instructed to act as agents in the disposal of the property, which also has a tenanted flat. The occupier was informed in her letter that the bank was closing because of changes in customer preferences and the availability of alternative services in the area.