Andover High Street is set to face another blow as NatWest Bank announces the closure of its branch on 28th August, following in the footsteps of other banking institutions like Barclays and Halifax, which had previously announced their branch closures earlier in the year.
In a recently released closure factsheet, NatWest cited the changing landscape of banking, with the increasing prevalence of mobile and online banking, as a primary reason for the closures. The bank stated, “The way we bank is changing. With the ease of mobile and online banking, fewer people are coming into the bank. This means we’ve had to make some tough choices about which branches can stay open.”
The factsheet emphasized NatWest’s commitment to its customers, assuring them that alternative banking methods would still be available. Whether through phone calls, video calls, or visits to other branches, NatWest pledged to provide support and assistance to customers transitioning to digital banking platforms.
Statistics provided by NatWest revealed significant shifts in customer behaviour, with a notable decrease in average counter transactions and a simultaneous increase in the usage of mobile apps between January 2019 and January 2023. This data, according to the bank, played a crucial role in the decision-making process regarding branch closures.
NatWest outlined the criteria involved in determining branch closures, including customer usage patterns, banking preferences, proximity to alternative banking facilities such as cash machines and local Post Offices, and the availability of online, mobile, telephone, and video banking options.
Specific data pertaining to the Andover Bridge Street branch indicated a significant decline in counter transactions for personal customers, coupled with a high proportion of customers utilizing online banking or the mobile app. Engagement with the local community and customers was highlighted as part of NatWest’s efforts to communicate the decision and gather feedback.
The bank assured customers that updates regarding the closure process, including details of engagement efforts and any resulting feedback or complaints, would be available on their website by 14th August 2024. Additionally, customers were encouraged to reach out to dedicated Customer Support Specialists for assistance or further information.
While the closure of NatWest branches may signify a shift in traditional banking practices, the bank remains committed to supporting its customers through alternative channels, reflecting the evolving landscape of banking services in the digital age.
Listen on 95.9FM, online or on your SMART devices, – “Play Andover Radio”
