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Join Which? MoneyNatWest Group to close 142 bank branches in 2023
Find out if your local bank branch will be shutting its doors
NatWest Group has revealed a further 36 branch closures, including two in 2024.
This means the group will close 142 branches in 2023 - which includes 138 NatWest and four Royal Bank of Scotland sites.
Here, Which? takes a closer look at which NatWest Group branches are closing, and what it means for the customers who rely on them.
Which NatWest branches are closing?
Here are the locations of the new closures announced by NatWest that will close in 2023.
There are 32 NatWest branches, with 31 in England and one site in Wales, as well as two RBS sites in Scotland.
| Bank | Town |
|---|---|
| NatWest | 25 Corporation Street, Corby |
| NatWest | Unit 4, St. Oswald's Retail Park, Gloucester |
| NatWest | 403 Bethnal Green Road, London |
| NatWest | 9 Devonshire Road, Bexhill-on-Sea |
| NatWest | 60 High Street, Bognor Regis |
| NatWest | 70 Denmark Hill, Camberwell |
| NatWest | 5 High Street, Gosport |
NatWest has also earmarked two sites for closure in 2024 - 10 Banks Road in West Kirby and 20 Melbourne Street in Stalybridge.
You can use the search bar to see all the closures in 2023 and the date of closure.
Why are more branches closing?
NatWest has previously said that the way people bank had changed 'dramatically' in recent years with an increased demand for mobile and online services.
It added: 'Closing a branch is a decision we take very seriously. We know it can affect people who are less confident with the alternatives we offer, and we'll always work hard to guide you through the changes and find the best way to serve you from now on.'
We've contacted NatWest about the latest closures and will update this story if we hear back.
- Find out more: are banks playing fair closing the last branch in town?
What other banks are closing sites in 2023?
NatWest isn't the only bank to announce closures this year. Almost all major high street banks have sites earmarked for closure, and more could follow.
HSBC is due to close 114 sites this year, and Barclays is due to close 142 sites.
Lloyds Banking Group has revealed 144 closures for 2023. TSB will close nine branches, Santander will close five sites, and Nationwide and RBS both have four sites scheduled to close.
Virgin Money plans to close one site this year.
Which bank closed the most branches in 2022?
Lloyds Banking Group closed the most branches in 2022, with 186 closures, closely followed by Barclays bank, with 184 branches.
- Barclays: 184
- Danske Bank: 4
- HSBC: 70
- Lloyds Banking Group (includes Lloyds Bank, Halifax and Bank of Scotland): 186
- NatWest Group (including NatWest, Royal Bank of Scotland and Ulster Bank sites): 92
- Nationwide: 22
- Metro Bank: 3
- Santander: 1
- TSB: 70
Why cash still matters
Cash is the second-most frequently used method of payment in the UK. Used by 5.4 million adults, it also provides a lifeline for vulnerable groups.
In fact, cash usage increased for the first time in 13 years in 2022, according to data from Nationwide Building Society. There were 30.2m cash withdrawals from Nationwide ATMs last year – a 19% increase compared with 2021.
Research by Which? last year found that cash can be a useful budgeting tool for households during the cost of living crisis and people in remote areas may not have reliable broadband or mobile connectivity for digital payments.
It's also a vital lifeline for the elderly, who are more likely to visit bank branches in person
- Find out more: what are the rules on paying with cash?
What is being done to protect access to cash?
Here are some of the measures that have been brought in since we started our campaign to protect cash:
New law to protect cash
First announced in the Queen’s Speech in May 2022, the new law will ensure people can continue to conveniently withdraw and deposit cash, following the rapid rate of bank branch and ATM closures.
His Majesty’s Treasury will set minimum distances for cash withdrawals and deposits and these may differ between urban and rural locations, and also for personal and business accounts.
These will be monitored and enforced by the Financial Conduct Authority (FCA). With its new powers, the FCA could stop banks and building societies from closing cash access services if there is no suitable alternative within a reasonable distance.
Previously the Financial Services and Markets Bill did not specify whether withdrawal and deposit facilities should be free, or whether consumers might have to pay a charge. But through a late amendment to the Bill, called for by Which?, it will now ensure that people across the country can withdraw and deposit cash for free.
This means the FCA will have greater power over major banks and building societies to ensure reasonable free access to cash is preserved for those who need it.
- Find out more: new rules to protect cash access and scam victims become law
Reviews by Link to commission new cash services
In December 2021, the Cash Action Group (CAG) announced that any community facing the closure of a core cash service, such as a bank branch or ATM, will trigger an independent review by Link.
Link will determine whether a new solution should be provided and will have the power to commission services, such as a shared banking hub or better Post Office services, to meet the cash needs of the community as a whole – not just the customers of one bank or building society.
Out of the latest closures only two banking hubs have been recommended by Link in West Kirby and Stalybridge.
- Find out more: new access to cash solutions – are they enough?
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Listen nowPost Office services
Since January 2020, customers of certain banks have been able to use Post Office branches to withdraw and deposit cash in their accounts and make balance queries. Most banks will also allow you to deposit cheques.
This service, described as a 'lifeline' by the Post Office, means that people can still access essential services, even if their local bank branch has shut.
The service will run until December 2025, after a new agreement was signed with 30 banks in February 2022.
Cashback without purchase
This initiative allows people to request cashback at the till in their local convenience store, without needing to make a purchase or pay a fee. It became possible last summer after a change in legislation.
A commercial scheme, operated by Link, was rolled out at the end of 2021 and is available in 2,000 stores.
You can find out where this service is on offer by using Link's cash locator on its website or mobile app. Just type in your location and search for the orange symbols which state 'CT'.
This article was first published on 18 February 2022 and has been updated several times since then. It was last updated on 10 July 2023 to reflect the 36 additional NatWest bank branches set to close.
