Here's the latest on which Nationwide branches are closing in the UK in 2023.
Home to over 9 million customers and 17,000+ employees, Nationwide has solidified it's position as many people's bank of choice when it comes to looking after their finances today. But much like many other high street banks we know and love, the building society has been re-evaluating the need for it's 600+ branches currently in operation across the country.
It's not the only bank reverting to cost-cutting measures in 2023, with the shutting down of some Nationwide branches following in the wake of the recently reported Natwest branch closures, Barclays branch closures and news that HSBC are closing 69 of its branches too. The Lloyds Banking Group - which owns Lloyds, Halifax and Bank of Scotland - have also announced some Lloyds branches are closing alongside additional Halifax branch closures - as financial giants look to change things up in the new online era of customer banking.
Which Nationwide branches are closing? Full list
- Portman Square, London - closing February 23, 2023
- Kingswood, Gloucestershire - closed January 2023
- Willow Parade, Langley - closed October 2022
- Slough Farnham Road - closed October 2022
- Mill Hill, London - closed October 2022
- Fulham, London - closed October 2022
- Cricklewood, London - closed August 2022
- Golders Green, London - closed August 2022
- Hampstead, London - closed August 2022
In 2023, Nationwide confirmed that there is only one branch closure currently planned for the year ahead. This will see the Portman Square branch, based in Marylebone, London, close it's doors on February 23.
Aside from this branch closure, Nationwide are actually one of the only UK banks that have pledged to keep their branches open for the forseeable future. The bank previously promised that branches would remain open until Juanuary 2023 - though this date has now been extended until 2024.
Nationwide's CEO Debbie Crosbie confirmed the news in June of last year. She said: "Supporting members through the cost-of-living crisis is my immediate priority. That’s why I’ve decided to extend our Promise to keep branches on the high street."
Nationwide currently has 625 branches in operation across the UK. This make it's the third largest bank in terms of their branches network.
We're here for you. If you'd like to contact us, we have support for all of our products and services: https://t.co/JrPvDK9Pa4 pic.twitter.com/KQFNhT1OURFebruary 2, 2023
Why are Nationwide closing branches?
Despite their promise to keep branches open until 2024, customers across the UK have seen a number of branches close suddenly in mid to late 2022. This included 5 branches based in London and 3 further afield in Slough and Gloucestershire.
A Nationwide spokesperson explained that sustainability was one reason behind the recent branch closures. Though quick to assure that they are not closing branches in large numbers, they stated that the company is always considering whether it is the "interest of their wider membership" to keep open a branch that’s not sustainable.
"For example where one requires significant investment and where there are modern branches nearby, we need to determine whether it makes more sense to use that money to improve and retain branches elsewhere in our network, particularly in areas where there is lower provision," they said.
This is what led to recent branch closures in Langley and Slough - they told the Slough Observer.
End of an era. @Nationwide Building Society will be permanently shutting its Hampstead branch on Thursday 18th August. What a pity. 😪 pic.twitter.com/jM168J37sgJune 24, 2022
A similar explanation was given to the closure of branches in Hampstead, Golders Green and Cricklewood last August. The spokesperson added that a drop in customer use also led to them closing the doors of their Hampstead branch on Heath Street.
"Up to 60% of Hampstead branch members are using other branches," they told Ham High. "And only 1% of Hampstead members are using their respective branches exclusively and frequently."
If you've been affect by the recent branch closures, Nationwide encourages "any member who needs support to speak to our colleagues in branch or call 0345 2660 268 to talk through their options in more detail."
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Emily Stedman is the former Features Editor for GoodTo covering all things TV, entertainment, royal, lifestyle, health and wellbeing. Boasting an encyclopaedic knowledge on all things TV, celebrity and royals, career highlights include working at HELLO! Magazine and as a royal researcher to Diana biographer Andrew Morton on his book Meghan: A Hollywood Princess. In her spare time, Emily can be found eating her way around London, swimming at her local Lido or curled up on the sofa binging the next best Netflix show.
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