TSB Bank has announced it is to make cuts at its Lochee branch – with the High Street premises set to be open to customers just three days a week from July.
Councillors and community figures have blasted the move and fear it will be disastrous for the area.
But the bank claims the move has been taken due to falling footfall.
A TSB spokesman said: “Rather than close the branch, we are reducing opening hours which will mean that from mid-July the Lochee branch will now be open on Tuesday, Thursday and Friday.
“We’re determined to use strategies such as this to reduce our costs, so we can retain a High Street presence for those people who need it most, especially in places from which other banks have already pulled out.”
Chris Galloway, TSB area director for north-east Scotland, said: “With fewer people using our branch in Lochee, we are reducing the number of hours it is open.
“If a customer needs to access the TSB during a time it is closed, the nearest branch is Coldside which is a mile and a half away.”
Jayne Kelly, who fronts the Save our High Street Lochee group, said the decision marks yet another blow for the local community.
And she claims it could have dire consequences for other businesses.
Jayne said: “This is yet another nail in the coffin for Lochee.
“This news is disastrous. It is a devastating blow.
“Not only will we lose yet another bank on certain days – but the knock-on effect will have dire consequences for the area.
“The TSB has been an integral part of our community for decades. The High Street in Lochee will definitely suffer as a result of this move.”
Lochee councillor Charlie Malone said: “I am deeply concerned about the decision of TSB to reduce its services at Lochee High Street branch, restricting business to three days per week.
“TSB is the last remaining financial services provider and any reduction in service will be detrimental both to customers – in particular the elderly – and to the economy of Lochee.
“Community groups are working hard to reinvigorate the High Street and any loss of footfall is damaging to local businesses.”
TSB was left as the only bank in Lochee in January 2017 when Santander announced it would be leaving the area – which prompted the formation of Save Our High Street Lochee.