Copy article

NatWest closures

ended 13. October 2022

NatWest has just confirmed it is closing 43 bank branches around the UK as it transitions its banking services online. Several branches in Scotland, including in Edinburgh, Glasgow and Aberdeen, are among the fresh wave of closures. Any thoughts about how this impacts the Great British high street, as it will result in less footfall, please send them across ASAP. 

3 responses from the Newspage community

Copy all

Copy

Editor
Manooch Suree
Director at Zinga Financial Services
Over the last 10-12 years many high banks have closed branches and digitalise their client interactions. This has worked well for banks over the years as they reduced their overheads but with the economy predicted to be in deep recession, increase in interest rates, this will leave their customers who are in financial difficulty - venerable as they will have less ways of communicating with their financial provider. In terms of impact on the high street, this will make the bas situation worse. With stores like M & S announcing closures and banks like Natwest, this would kill off the already struggling high street
Copy

Jonathan Burridge
Founding Adviser at We Are Money
This terrible news. There are thousands of people, many of whom are vulnerable who need the personal touch that we are losing in the digitial age.
Copy

Legend
Dr Jackie Mulligan
Founder at ShopAppy
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. Their "Tomorrow begins Today" advertising slogan feels a little bit redundant now. For most small businesses in town centres, this will put more uncertainty into their tomorrows. Banks provide services and employment in communities, which drives footfall and custom to our much loved high streets across the country. That tomorrow for Natwest feels like a virtual one now and that will be a blow to many places at a time when they least need more uncertainty.