Bank group Natwest has today announced a further 36 branches will shut down. The decision is a blow to high streets around the country and continues the departure of banks from shopping centres.
In an update today, NatWest said it will close 34 additional sites between September 2023 and July 2024. RBS will shut two branches in November 2023. It means the total number of NatWest branches scheduled to close this year and into 2024 stands at 140, while the figure for RBS is four, the Mirror reports.
The latest move contrasts with Nationwide Building Society which last month promised to keep its high street branches open until 2026 in a bid to keep face-to-face banking alive in local communities. It means the lender vows to keep its network of 605 branches open for the next three years.
Major British lenders have cut hundreds of branches in the past year, arguing that they are far less popular than they used to be as more people prefer to bank digitally. Barclays, Lloyds, Halifax, Bank of Scotland, NatWest, RBS, TSB, Virgin Money and Nationwide have announced the closure of about 330 branches between them since the start of the year, according to data from Link, a cash machine company.
Banking giants such as Barclays and Lloyds said the number of visitors to high street banks has dropped sharply over the past few years, while online and mobile banking usage has soared. But Nationwide said that people still want the choice to visit their bank in person.
Around 63% of people say they value their local branch, according to the lender’s survey of about 2,000 consumers. The top reasons people cited for visiting a branch were withdrawing cash, checking balances, opening an account, getting financial advice and discussing financial difficulties.
If you need face-to-face support and your bank is shutting, it is worth seeing if a NatWest mobile branch or community pop-up bank is available near you. The Mirror has contacted NatWest Group for comment.
NatWest closures announced today
25 Corporation Street, Corby, NN16 1NR, England - September 26, 2023
Unit 4, St. Oswald’s Retail Park, Gloucester, GL1 2SR, England - September 26, 2023
403 Bethnal Green Road, London, E2 0AF, England - September 27, 2023
9 Devonshire Road, Bexhill-on-Sea, TN40 1GW, England - September 27, 2023
60 High Street, Bognor Regis, PO21 1DA, England - September 28, 2023
70 Denmark Hill, Camberwell, SE5 8SD, England - September 28, 2023
5 High Street, Gosport, PO12 1DA, England - October 3, 2023
39 Grimsby Road, Cleethorpes, DN35 7AQ, England - October 3, 2023
1 Romsey Road, Southampton, SO16 4GT, England
87 High Street, Sidcup, DA14 6DL, England
12 The Broadway, Southgate, N14 6PL, England
131 Crockhamwell Road, Woodley, RG5 3JX, England
9 The Broadway, Stanmore, HA7 4DA, England
11 Fore Street, Tiverton, EX16 6LW, England
Unit 29 Rosevale Road, Parkhouse Industrial Estate, ST5 7EF, England
Unit 5, The Willett Building, London, SW1W 8DL, England
15 Mary Rose Mall, Beckton, E6 5ZZ England
1 High Street, Weybridge, KT13 8UA, England
Bawtry Road, Wickersley, S66 1JY, England
463 Bury New Road, Prestwich, M25 1AB, England
Bedford Square, Tavistock, PL19 0AQ, England
38 High Street, Alton, GU34 1BF, England
11 Rolle Street, Exmouth, EX8 1HH, England
119 Boundary Road, Norwich, NR6 5JD, England
53 High Street, Wanstead, E11 2AB, England
7 Hinckley Road, Leicester, LE3 0TQ, England
4 Commercial Square, Camborne, TR14 8EB, England
St. Andrews Cross, Plymouth, PL4 0AE, England
100 The Crescent, Colchester, CO4 9GN, England
2 The Sandlings, Ipswich, IP3 9YY, England
15 Chester Road, West Shotton, CH5 1DF, Wales
34 Henrietta Street, London, WC2E 8NL, England
20 Melbourne Street, Stalybridge, SK15 2JQ, England
10 Banks Road, West Kirby, CH48 4LG, England
RBS closures announced today
High Street, Dingwall, IV15 9HF, Scotland
288 Brook Street, Dundee, DD5 2AP, Scotland
