NatWest to close 55 bank branches in fresh blow to UK high street – see if your local is affected
NATWEST is pulling down the shutters on 55 more bank branches in a blow to the high street.
The bank has confirmed it will shutter dozens of branches over the coming months.
Locations will shut for good across the UK including in Torquay, Birmingham and Abingdon.
Further branches will close for good in Leamington Spa, Stratford-upon-Avon and Northampton.
It comes just months after NatWest said it would close 53 bank branches in 2025.
The major bank has already slashed its branch portfolio in recent years as younger customers turn to online banking.
NatWest has more than 19million customers and it says over 3.5million customers use online banking.
Last year Natwest Group closed 48 sites and in 2023 it shuttered nearly 20 branches.
Since 2015, NatWest Group, which encompasses NatWest, Royal Bank of Scotland, and Ulster Bank, has closed 1,409 branches.
Following the confirmation of the latest round of closures, a spokesperson for NatWest said more customers “than ever before” were using digital banking.
They added: “Over 80% of our active current account holders now use our digital services and over 97% of retail accounts with us are now opened online.
“Our customers appreciate the speed and convenience of digital banking for everyday transactions, and often, when it comes to making bigger, more complex decisions they value speaking to our skilled and experienced colleagues.”
The latest round of closures from NatWest comes as other big banks shutter hundreds of branches between them.
According to Which?, around 6,100 bank and building society branches have closed since January 2015 across the UK, or are due to close by the end of this year.
This is equivalent to 61% of branches that existed 10 years ago.
Banks have cited reduced customer footfall and a trend towards digital banking as two of the main reasons for closing branches.
But the loss of sites on the high street can cause a headache for locals who still require a physical branch.
Research has found around 39% of people over 65 did not use online banking and were at “high risk of financial exclusion“.
While a survey conducted by Which? last year found more than half of disabled or impaired people had negatively been impacted by bank closures.
What to do if your local bank branch closes
If a recent bank or building society closure has left you without one nearby, you have some alternatives.
You can carry out most basic banking tasks at your nearest Post Office, although you won’t be able to apply for a loan or open a new bank account there.
You can find your nearest Post Office branch by using the locator tool on its website.
Some banks offer a mobile banking service – a bus that comes to your area offering services you can usually get at a physical branch.
Other banks use buildings such as village halls or libraries to offer mobile banking services.
It’s worth contacting your bank to see what services they have available, and when they might next be in your area.
If you’re thinking about giving online banking a go, comparison website Uswitch has a useful guide on all the need to knows.
You could also switch your current account to a bank or building society that has branches closer to you.
You can switch current accounts for free, in most cases, through the Current Account Switch Service (CASS).
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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