Six Natwest bank branches will be closing across the borough.
The branches in East Finchley, Finchley Central, Hendon Church Road, Mill Hill, Temple Fortune and Whetstone will close, according to a letter sent to customers last week.
Resident Gerard Sagar said: "This will be bad for small businesses, young people, the elderly and anyone not set up with online banking."
There are 35 branches closing across the capital, but Barnet is the borough most badly hit by the closures.
Cllr Arjun Mittra said: "The NatWest in East Finchley is the only bank in the community, since Santander and Barclays closed.
"This decision is deeply inconvenient to local businesses, residents, visitors and customers, and will do damage to our High Road through the loss of two very well used cash machines."
Cllr Mittra went on to describe how the public are "still paying the price" after banks were bailed out by the taxpayer in 2008.
But Natwest have said that they were seeing a transaction decline at those branches, which lead to their closure, with 70 percent of customers using the Mill Hill, East Finchley and Finchley Central branches moving to digital platforms.
The banking firm also said that new roles had been created to equip their customers through the transition, including a community banker and "textpert" in every branch by the end of April.
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