NatWest and RBS to shut doors on another 19 branches

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NatWest and Royal Bank of Scotland (RBS) have unveiled plans to close an additional 19 branches in 2024, in addition to the 142 branches already slated for closure this year. This move reflects a broader trend in the UK banking sector, where 578 branches have shut their doors in 2023 alone. Barclays leads the closures with 185 sites, followed by Lloyds with 112 closures and Halifax with 72.

NatWest attributes this decision to the increasing shift of customers towards digital banking, as evidenced by a 60% decline in average transactions at its group branches over the four years leading up to January 2023.

Here is the list of NatWest and RBS branch closures scheduled for 2024:

• London – Chiswick High Road: February 20
• Redcar – High Street East: February 20
• Bradford – New Line: February 21
• Surbiton – Victoria Road: February 21
• Bakewell – Water Lane: February 22
• Greenwich – Greenwich Church Street: February 22
• Ormskirk – Moor Street: February 27
• London – Station Parade: February 27
• Morecambe – Marine Road Central: February 28
• Wednesfield – High Street: February 28
• Pontypridd – Taff Street: February 29
• Rickmansworth – High Street: February 29
• Birmingham – Bristol Road South: March 5
• Liverpool – Prescot Road: March 5
• London – Piccadilly: March 6
• Rochester – High Street: March 6
• Dudley – Castle Street: March 7
• Maldon – High Street: March 7
• RBS branch in Sauchiehall Street, Glasgow: November 19, 2024

As physical branches continue to close, alternative banking options are emerging. Customers can utilize any of the 11,635 Post Office branches across the UK for banking transactions. Additionally, the rise of banking hubs is noteworthy, providing deposit and withdrawal services irrespective of the bank. Operated by the Post Office, these hubs are open Monday to Friday and offer private rooms for customers to address more sensitive matters with community bankers. Plans are in place for 61 banking hubs across the UK, with seven already operational.