NATWEST AXES 32 BRANCHES: WHAT DOES IT MEAN FOR CUSTOMERS?

Major UK lender Natwest has announced the closure of 32 branches, following a reduction in the number of customers using physical branches since the start of the Covid-19 pandemic.

The news has left many Natwest account holders wondering what the closures mean for them and how the change will affect their banking. Luckily, the experts at money.co.uk have compiled a quick and easy guide to help you along.

James Andrews, Senior Personal Finance Editor at money.co.uk, said: “Banks across the UK have been closing their branches down at rapid rates for the past two years, so today’s news that Natwest is axing 32 more locations (listed in full below) doesn’t come as a huge surprise.

“While not unexpected, the decision will understandably leave many of the bank’s customers concerned about how their finances will be affected.

“If, like millions of Brits, you do all your banking online, then the good news is that your money management is unlikely to change at all. You should still be able to access your accounts and control your finances in the same way you always have done.

“However, many customers cannot, or do not have the facilities, to bank online. And for these people the closures are much more alarming, as they now find themselves at risk of being cut adrift.

“Physical branches provide many Brits, particularly the elderly who often have not transitioned online, with cash access and vital banking services.

“Natwest has said it’s writing to all vulnerable customers affected by its latest closures and is providing a cash delivery service and Companion Card to vulnerable customers across the country.

“You can also use your local Post Office for many of the in-person branch services instead of your bank – including paying bills and depositing money.

“However, if you’d rather still visit a local branch of your bank, it might be simpler to switch accounts. If you’re thinking of switching, use money.co.uk’s handy current account comparison tool to help you along: https://www.money.co.uk/current-accounts.htm.”

NatWest branches affected

Billericay
Borehamwood
Bulwell & Hucknall
Chelsea
Gillingham Kent
Gosforth
Headingley
Hull University
Leatherhead
Leeds Victoria
Manchester Spinningfields Square
Marlow
Nottingham City
Piccadilly & New Bond Street
Ruislip
South Woodford
Swanley Kent
Tavistock Square
Twickenham
Windsor & Eton
Derby Crompton House
RBS branches affected