After NatWest confirmed plans to close another 43 branches many customers are wondering which NatWest banks are closing?
The decision to close a further 43 stores - in addition to the 32 it announced back in February - comes after the drop in the number of people using its in-branch services following the Coronavirus pandemic and follows a change to the high street after M&S announced plans to close some of its stores (opens in new tab), Wilko said it was closing some shops (opens in new tab) and Morrisons plans to close some McColl's stores (opens in new tab) after buying the chain. Meanwhile Lloyds (opens in new tab) announced some closures and HSBC (opens in new tab) did too in early 2022.
The lender said the decision affects a total of 75 the NatWest and Royal Bank of Scotland brands, 32 of which will close in England and Wales in the next 12 months, leaving 678 branches - down from its current figure of 721, as we look at all you need to know about the closures...
Which NatWest banks are closing?
The following NatWest banks and Royal Bank of Scotland stores are closing;
The latest 43 NatWest banks closing
- Cheltenham Bath Road
- St Neots
- Market Harborough
- Coventry Walsgrave Road
- Gerrards Cross
- Lewes High Street
- Potters Bar
- Bloomsbury Parrs, London
- Upper Parkstone, Poole
The first 32 NatWest banks closing
- Bulwell & Hucknall
- Gillingham Kent
- Hull University
- Leeds Victoria
- Manchester Spinningfields Square
- Nottingham City
- Piccadilly & New Bond Street
- South Woodford
- Swanley Kent
- Tavistock Square
- Windsor & Eton
- Derby Crompton House
- Cardiff City
- Leeds Park Row
- Leicester Market Street
- London Child & Co
- Nottingham City Office
- Southampton High Street
Why are NatWest closing branches?
NatWest is closing a total of 75 of its branches because there has been a significant shift to mobile and online banking, causing a decline in the number of people using in-branch stores.
Dr Jackie Mulligan, a member of the government-commissioned high streets taskforce, said: “This is such disappointing news from a bank that has always been part of the UK’s high streets and has championed the small businesses that trade on them.”
She added: “Their ‘Tomorrow Begins Today’ advertising slogan feels a little bit redundant now. For most small businesses in town centres, this will put a lot more uncertainty into their tomorrows.”
A NatWest spokesperson previously explained back in February, "As with many industries, most of our customers are shifting to mobile and online banking, because it’s faster and easier for people to manage their financial lives.
"We understand and recognise that digital solutions aren’t right for everyone or every situation, and that when we close branches we have to make sure that no one is left behind.
"We take our responsibility seriously to support the people who face challenges in moving online, so we are investing to provide them with support and alternatives that work for them."
It is not yet known how many job losses there will be but it's hoped that many will be redeployed across the company.
A statement added, "For the vast majority of colleagues at closing branches, we will look to redeploy them to suitable roles within the branch network.
"For the small number of colleagues placed at risk as a result of this announcement, we will seek to manage any redundancies on a voluntary basis, and also explore where possible, redeployment opportunities."
How many NatWest branches are there?
There are more than 960 NatWest branches. The bank is considered on of the Big Four clearing banks in the UK with 3,400 cash machines across Great Britain and offers 24-hour Actionline telephone and online banking services.
And the bank has promised to "contact vulnerable customers to ensure they can continue to bank with them in the way which suits them best," and this has led to the roll out of a new postal cash delivery and Companion Card service nationwide for vulnerable customers.
In 2020, NatWest announced plants to cut the positions of 550 employees in its retail business division and shut one of its London offices.
You can find out more about the current NatWest bank closures by visiting NatWest.com (opens in new tab).
Citizens Advice warned 206 post offices have closed in the last two years, the equivalent of two closing each week.
In addition, 1,291 branches are currently deemed “temporarily closed”, but almost six in 10 of these have been shut for more than two years, the report said.
NatWest hasn't confirmed the closure date for the branches, but usually gives customers at least 12 weeks' notice.
Vulnerable customers who are concerned about the upcoming changes can call the bank on 0800 051 4176.