Map shows full list of NatWest bank closures as 19 | U.Ok.Finance News
NatWest has introduced it would close 19 branches throughout the nation subsequent month. The banking giant has put the closures down to altering buyer behaviour, with NatWest reporting a 62% drop in over-the-counter transactions between 2019 and final yr. This compares to a 53% increase in use of its cell phone app over the identical period.A complete of 48 branches closed in 2023 and 2024, with most in northwest England, Yorkshire, the East Midlands and North East. This yr, the doorways will close for the final time at 54 NatWest branches, from Accrington on June 5 to Nantwich on June 19 and Worksop on June 18, to call simply a few.NatWest shouldn’t be the one bank to have introduced closures, with Lloyds Banking Group set to close 136 branches up to March subsequent yr. Again, the explanation given is the shift to online banking and a decline in demand for in-person companies.To discover out the place the latest closures can be, take a look at our helpful map beneath.According to evaluation by client champions Which?, NatWest Group has closed probably the most branches of any banking group – 1,431 to the tip of March this yr. NatWest Group contains NatWest, Royal Bank of Scotland and Ulster Bank.After NatWest Group comes Lloyds Banking Group, which has closed 1,321 branches. Barclays has cut its community probably the most as a single bank, with 1,236 branches shut, in accordance with the identical publication.Since January 2015, banks and building societies have closed 6,303 branches, representing 64% of those who have been open originally of that yr.Under the Access to Banking Standard, banks have to have interaction their prospects and communities earlier than any deliberate closures and offer different methods of banking when a department shuts.By law, banks and building societies are required to make sure they plug any gaps in entry to money regionally. The Financial Conduct Authority has stated banks and building societies can create banking hubs, instal ATMs offer entry by means of the Post Office.However, figures cited by Which? show that as of September final yr, simply 76 out of 162 really helpful banking hubs had opened.Banking hubs ought to have a counter the place prospects can have a vary of companies carried out, together with paying in money, taking money out and paying payments.The Rural Services Network, a particular curiosity group of the Local Government Association, has warned the closure of bank branches has had a destructive influence on rural communities particularly.It has highlighted how people who stay in rural areas usually expertise poor broadband and cell phone indicators, which may make accessing phone and online banking tough.Economic Secretary to the Treasury Emma (*19*) has stated the Government understands the influence such closures can have and ministers are dedicated to championing ample entry for all “as a priority”.Ms (*19*) highlighted the Government’s work with industry on rolling out 350 banking hubs throughout the nation by the tip of the present Parliament.
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