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NatWest to close its doors this week

Created on 25/09/2017 @ 17:49
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Six months after announcing the intention to close its Welshpool branch, NatWest will deliver on its promise this week.

It will bring an end to decades of banking being operated from the town centre building and provides a further blow to rural banking services.

The closure is part of NatWest and Royal Bank of Scotland closing 158 branches across the UK with the loss of 470 jobs.

The closures are due to a “dramatic shift” in the way that customers use the bank - with a switch to people banking online or through apps.

The bank, 70 per cent government owned, first warned of job cuts and branch closures earlier this year, after announcing annual losses of £7billion in February.

It means that 30 RBS branches and 128 NatWest branches around the UK will close this year.

A spokesperson from RBS said: “We have seen a dramatic shift in the way our customers are choosing to bank, with more using mobile and online over traditional branch counters.

“Simple transactions undertaken in branch at NatWest and Royal Bank of Scotland have fallen by 43 per cent since 2010, while online and mobile transactions have increased by more than 400 per cent.”

A spokesperson added: “As customers change the way they bank with us, we must change the way we serve them.

“The role of the branch is fast moving to a centre for advice, away from basic transactions.

“While the branch will still be a core part of our offering to customers, inevitably some branches will have to close.”

It is believed that existing customers can still carry out some banking procedures at the Post Office, a situation which has not gone down well at all.


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