The Builth Wells branch of Barclays is set to close its doors for good next year.
The bank has confirmed that the branch, on 11 Broad Street, will close on March 6.
Barclays has said the reason for the closure is due to fewer people visiting the branch and more people banking online.
Just over 12 months ago, Barclays assured customers the Builth branch would be “remaining open for the foreseeable future”.
Following the closure, there are plans to open a Barclays Local in Builth, described as a “flexible community presence” in town halls and libraries, mobile vans and banking pods.
The sites are cashless, but customers can access a range of in-person support such as help with digital banking, financial reviews, balance checks, transfers and bill payments.
The closest Barclays branches following the closure will be located in Hereford and Carmarthen, both more than an hour’s drive away.
Barclays has said they “do not intend” to make anyone redundant as a direct result of the closure.
A Barclays spokesperson said: "As visits to branches continue to fall, with the majority of people preferring to bank online, we need to adapt to provide the best service for all our customers. This is reflected at Builth Wells, where we are delivering new ways to support our customers and the community with options for those who need in-person services.
"In Builth Wells we plan to open a Barclays Local - a 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."
MP for Brecon and Radnorshire Fay Jones said she is “incredibly concerned” following the closure announcement.
Ms Jones said: "I have requested a meeting with Barclays to discuss both Brecon and Builth Wells, and I have a meeting scheduled for next week with Bim Afolami, Economic Secretary to the Treasury.
"Residents across Powys are older and we have poorer transport links. Banks seem to time and time again be forgetting about our rural constituencies and the distances we are all expected to travel."
In relation to the Barclays Local plans, the MP drew reference to the situation in Brecon.
The Brecon branch of Barclays closed permanently on August 25 this year.
Ms Jones says the promised presence of a mobile bank in Brecon is “unpredictable”. A permanent site for the Brecon mobile branch has now been announced - at Brecon Leisure Centre - although Ms Jones adds that the location is not central to town.
This new Brecon site will open on December 7 and will operate every Thursday and Friday (9am - 12 midday / 1pm - 5pm).