The branch which is in London Road will be closing its doors on November 24, following hot on the heels of Natwest which also left the town earlier this year citing a drop in footfall.
Announcing the closure, Barcleys told customers: “Back when we opened this branch, visiting us in person was one of the only ways to do your banking. Now, as there are lots of ways to manage your money without even leaving your home, we’re seeing many customers choosing to bank using our app, and Online or Telephone Banking.
"This has had a big impact on the number of customers coming in to see us.”
A Barclays spokesperson that only 50 of its customers use this branch exclusively for their banking and do not interact with the bank in other way.
The nearest branch will now be in Portsmouth, though the bank is hoping to open a ‘pop-up’ cashless facility in Waterlooville to help its customers.
A spokesperson said: “Our customers’ behaviour has changed significantly in recent years, with the majority now choosing online banking. This is reflected at Waterlooville branch and as we adapt, we are finding new ways to support our customers by maintaining our community presence with options for customers who still require in-person support.”
“In Waterlooville we plan to open a Barclays Local – a pop-up cashless banking site where customers can meet a colleague face-to-face for banking support, as they would in a branch and without the need to travel. We are currently working with the local community to identify a suitable location and will announce details once confirmed.”
Other banks and building societies which are still in Waterlooville include: Lloyds, Nationwide, Santander and the Halifax, as well as the Post Office.