Barclays says it is looking for a 'pop-up presence' in the town but the last two years has seen a huge 44 per cent drop in the number of customers using the branch in Cheshire Street.
The banking giant says 39 regular customers use the branch exclusively for their banking and do not interact with the company in other ways.
The branch in Cheshire Street, will close on Thursday, October 6, 2022.
A spokesman for Barclays said: “The decision to close a branch is never an easy one. However, customers are increasingly using alternatives to branches to do their banking. As a result, we are seeing a sustained fall in branch visits across the UK.
“This is reflected at the Market Drayton branch where there has been a 44 per cent reduction in counter transactions in the two years to March 2020. In addition, 87 per cent of our Market Drayton customers are also using different ways to bank.
“We will work with our customers and provide alternative options to ensure they can continue to manage their money and receive financial expertise when required.
"This includes working with the local community to find different, more flexible ways for our colleagues to continue to provide local banking support, such as through pop-up presences.”
Barclays says transactions can be completed at any Post Office with the closest located at High Street, Market Drayton, a short distance away.
The nearest free-to-use is at Lloyds Bank, 55 Cheshire Street, Market Drayton.
The closest Barclays branch is at High Street in Newcastle-under-Lyme.
Barclays will be offering virtual ‘tea and teach’ sessions for customers wishing to explore digital banking and other alternatives to branch based banking
Barclays says although the branch is closing, it will still have an active presence in the community via new and alternative physical touchpoints.
A statement added: "We plan to provide additional face-to-face access for banking services via one of our community locations – from the point of closure. Further details, including the timings and the location, will be communicated to our regular customers in due course."