NatWest to close another 23 bank branches
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NatWest is closing another 23 bank branches, leaving more communities without over-the-counter services
Natwest will close an additional 23 bank branches before June in another blow to bank customers who rely on over-the-counter services.
The move by the state-backed company led by CEO Alison Rose comes on top of the 43 stores it already planned to close.
And it brings the total number of bank branches this year to 263. Since 2015, banks have closed 5,201 branches – 53 percent of all branches – according to analysis by consumer rights group Which?.
Closures: Natwest, run by chief exec Alison Rose (pictured), will close 23 more bank branches before June
Last year 662 closed, found it. Barclays closed the most – 184.
Many cities and towns no longer have a bank branch, leaving communities without access to cash and basic banking services.
Critics have criticized the banks for leaving elderly and vulnerable people without a financial lifeline. Caroline Abrahams, from the Age UK charity, said it would be a particularly hard blow to the millions of elderly people who depend on bank branches due to a lack of confidence in mobile banking.
She said: “The scale of bank branch culling in recent years only seems to be getting worse.
“With around 2.5 million older people relying on cash and the government making laws to protect access, it is always disappointing to see services cut and people unable to manage their money. to go.’
The majority of the closures announced by NatWest are in the South of England, with three in Kent and three in West Sussex.
The most northerly branch to be closed is Heslington in North Yorkshire and the most southerly is Torquay in Devon.
It comes less than a week after Lloyds said it will close 40 branches across England and Wales between April and June.
HSBC is closing 114 branches this year, Barclays is closing 26 branches and Santander is closing five.
According to which? in 2015 there were 9,869 bank branches. But since then, banks have closed 5,464 of those branches or announced plans to close.
It means more than half of all branches have disappeared, with lenders blaming a shift to mobile and online banking as the reason for shutting down their networks.
Meanwhile, the number of ATMs in Britain fell by 1,294 to 51,253 last year.
Despite this, admissions had risen for the first time in more than a decade. A total of £83 billion was withdrawn from ATMs in 2022, compared to £79 billion in 2021, according to data from ATM network Link.
Experts suggest that people turn to cash to help them better manage their finances during the cost of living crisis.