Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info
Natwest is preparing to shut 49 branches in the coming weeks, with two locations closing their doors today. The major bank has announced a series of closures set for this month and October.
The first branches to close will be Cwmbran in South Wales and Wisbech in Cambridgeshire, with Leicester, Melton Road, and Rayleigh next on the list, scheduled for closure tomorrow.
Halesowen will follow suit on Wednesday, while the branches in Bristol (Fishponds) and Llangefni are due to close on Thursday. In total, 26 NatWest branches will permanently cease operations this month.
This move is part of a wider trend of banks reducing their high street presence as they shift towards online banking. NatWest has previously stated that over 80% of its current account holders utilise digital services.
Moreover, more than 97% of retail accounts are opened online. However, such closures can pose challenges for elderly or vulnerable customers who may struggle with online services, reports the Express.
Research indicates that 39% of people aged over 65 do not use online banking, putting them at a high risk of financial exclusion. Since 2015, the NatWest Group - which also encompasses Royal Bank of Scotland and Ulster Bank - has closed 1,409 branches.
Full list of locations set to close below: Cwmbran - September 1 Wisbech - September 1 Leicester (Melton Road) - September 2 Rayleigh - September 2 Halesowen - September 3 Bristol (Fishponds) - September 4 Llangefni - September 4 Ely - September 10 Leicester (Oadby) - September 10 Birmingham (Edgbaston) - September 11 Cardiff (Llanishen) - September 11 Luton (Leagrave) - September 15 Northampton (Weston Favell Shopping Centre) - September 15 Birmingham (Acocks Green) - September 16 Cardiff (Canton) - September 16 Cirencester - September 17 Hinckley - September 17 Wickford - September 18 Willerby - September 22 Abingdon - September 24 Newmarket (Suffolk) - September 24 Birmingham (Smethwick) - September 25 Yate - September 25 Bicester - September 30 Sudbury - September 30 Melton Mowbray - September 29 Ringwood - October 1 Leamington Spa - October 1 Birmingham (Shirley) - October 1 Paignton - October 2 Stevenage - October 7 Wellingborough - October 7 Midsomer Norton - October 8 Stratford-upon-Avon - October 8 Neath - October 13 Romsey - October 13 Redditch - October 14 Chippenham - October 15 Lowestoft - October 15 Trowbridge - October 16 Honiton - October 21 Mold - October 21 Dorchester - October 22 Bridgwater - October 27 Leighton Buzzard - October 28 Bridport - October 29
Expected to be confirmed later:
Garstand Market Drayton Ashby-de-la-Zouch Cromer Evesham Launceston Portishead Torquay
Analysis of official data shows that a total of 138 branches were shut between June and August, with Santander leading the way.
Thirteen banks shut their doors in August, with all but one being branches of Santander, following the banking giant's announcement earlier this year that it would be closing 95 banks.
This comes on the heels of the loss of 84 banks in June and 41 in July, affecting every region of England as well as Scotland, Northern Ireland, and Wales.
Cornwall has been the most affected by the summer closures, with seven branches disappearing from its high streets.
Since a voluntary agreement was reached in February 2022, which saw major banking groups commit to assessing the impact of each closure, 1,879 bank branches have either closed or announced plans to close.
This equates to an average of roughly 50 closures announced per month, or 12 per week.
The LINK initiative, agreed upon by all major banks including Barclays, HSBC, Natwest, Lloyds, and Halifax, was established to ensure that vulnerable customers and small businesses were not left behind in the transition to cashless payments and virtual banking.
When closures result in communities being left without a local bank, banking hubs or free ATMs are set up to fill the void.