HSBC will close its branch in Hook Parade because too few people use it.
The bank said the rise in internet and phone banking was to blame.
An HSBC spokeswoman said: "Footfall in our branches has fallen dramatically and is accelerating.
"On occasions this has meant we have needed to close a branch and our Chessington branch is a case in point.
"We worked with the small number of customers who use the branch to help them reorganise their finances ahead of the closure.
"The members of staff who man the branch will transfer to other HSBC branches in the area."
Chessington North councillor Andrew Day said the closure was "another nail in the coffin" for the parade.
He added: "We will have to see if anybody wants to take the building over. It's certainly going to affect things."
The branch will close on Friday, October 10 this year.
The Surrey Comet's Fiona Parker spoke to shoppers in Hook:
Eeryn Seaman, 82, a retired resident of Holmwood Road said: “I have very bad legs and can’t walk for long distances.
"The bank is very convenient for me as it’s only five minutes away. I’ve been coming to the branch for 63 years."
Sue Shields, 58 , a deputy manager at a care home for adults with learning disabilities, said: "Our residents need to withdraw their housekeeping funds and they have always used this branch.
"It’s only up the road and the staff are very helpful.
"Several of our residents are physically disabled and many do not cope well on public transport. If the branch closes, they will have to Tolworth and it will be very difficult for all involved."
Christine Duff, a retired 64 year-old who lives on Hook Road and uses the bank’s cash machine, said: "A lot of older people live here who rely on the bank. Many other older residents such as me don’t use online banking and don’t really want to learn.
"It’s far too complicated. It will also be a shame to see yet another empty shop on the road."
Raju Raj, a 44 year-old who has a shop on the parade said: "A lot of my older customers do use the HSBC. If the bank is going to be removed, I can only hope another bank takes its place."
Alan Durrant, a retired 71 year-old from Devon Way, said: "It was a pain when the Natwest across the road closed less than five years ago.
"This is going to cause even more hassle. The other two ATMs on the parade are often not working. It’s unfortunate that we are going to lose the reliable one."
Fifty-year-old nurse Pauline Akerman said: "I do use online banking, but I always feel more comfortable withdrawing money from a bank ATM rather than a supermarket.
"I hope we don’t get yet another hairdresser. We have far too many already."
Karren Fenton, a 42 year-old housewife from Claygate, said: "Restaurants don’t do well here and any shop selling fresh food would struggle to compete with Tesco.
"It would be good to have somewhere mothers can take children, like a play centre or a crèche. The parade is really lacking anything like that at the moment."
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