Two major high street banks confirm 48 new closures from this summer- is your local disappearing for good?

TWO major high street banks are set to close almost 50 bank branches between them in a fresh blow for the high street.

NatWest is pulling down the shutters on 47 locations in the coming months, with RBS set to close one permanently.

Branches in London, Surrey and Kent will all close for good, according to LINK.

It comes after NatWest confirmed in November it would close 19 of its locations in a blow for bankers.

Earlier this month, Halifax, Lloyds and the Bank of Scotland (BoS) announced they would close dozens of branches between them too.

Halifax said it would shut 22 branches while Lloyds said it would shutter 21 and the BoS said it would close 10.

Since the start of 2023, a raft of banks and building societies have closed hundreds of branches between them.

The full list of 48 bank branch closures announced today is:

• Kingsbury Road, London, 10/07/2024
• London Road, Larkfield, 10/07/2024
• East Street, Barking, 11/07/2024
• Station Road, Paddock Wood, 11/07/2024
• Market Square, Dover, 16/07/2024
• High Street, Cosham, 18/07/2024
• High Holborn, London, 23/07/2024
• London Road, Norbury, 23/07/2024
• Abbey Road, London, 24/07/2024
• High Street, Rainham, 24/07/2024
• High Street, Barkingside, 25/07/2024
• The Street, Rustington, 25/07/2024
• Penn Road, Beaconsfield, 30/07/2024
• Finchley Road, London, 31/07/2024
• High Road, Chadwell Heath, 01/08/2024
• The Broadway, Muswell Hill, 06/08/2024
• Streatham High Road, London, 06/08/2024
• Amhurst Road, Hackney, 07/08/2024
• Spring Street, London, 07/08/2024
• Holloway Road, London, 07/08/2024
• High Street, Ramsgate, 08/08/2024
• Westfield, White City, 13/08/2024
• King Street, Gravesend, 14/08/2024
• Baker Street, London, 15/08/2024
• London Road, East Grinstead, 20/08/2024
• Eltham High Street, Eltham, 20/08/2024
• Rushey Green, London, 21/08/2024
• High Street, Woking, 21/08/2024
• High Street, West Wickham, 22/08/2024
• Central Road, Worcester Park, 22/08/2024
• Fenchurch Street, London, 27/08/2024
• Bridge Street, Andover, 28/08/2024
• Central Circus, London, 29/08/2024
• High Street, Beckenham, 03/09/2024
• High Street, Staines, 03/09/2024
• High Street, Bracknell, 04/09/2024
• Fore Street, Upper Edmonton, 04/09/2024
• Bishopsgate, London, 05/09/2024
• Western Market, Southall, 05/09/2024
• Woodcote Road, Wallington, 10/09/2024
• High Street, Petersfield, 11/09/2024
• West Street, Havant, 12/09/2024
• High Street, Slough, 12/09/2024
• Victoria Road, Farnborough (NatWest), 15/10/2024
• Victoria Road, Farnborough (RBS), 15/10/2024
• Notting Hill Gate, London, 16/10/2024
• Cromwell Place, London, 17/10/2024
• Station Road, London, TBC

Customers are increasingly turning to online banking to manage their finances while banks and building societies look for ways to cut costs.

But fears have been raised the closures will leave certain sectors of society out in the cold.

In June last year, a Which? survey of 2,300 banking customers with a disability or impairment found 52% had been negatively impacted by bank closures.

In May of the same year, a survey of 2,632 people aged 65 and over by charity Age UK found 39% with a bank account did not use online banking and were at “high risk of financial exclusion”.

Some banks or building societies such as HSBC and Nationwide have made pledges to limit branch closures or not shut any at all.

Nationwide launched its Branch Promise in March 2019, committing to keeping branches open in areas where it already has them.

It says sometimes it has to close locations if circumstances are out of its control, but only if no other option is available.

A spokesperson for the NatWest Group, which also runs RBS, said 80% of its active current account holders now use digital services and over 97% of retail banking accounts are opened online.

They added: “We are investing c£35m in our (branch) network across the UK, from 2023-24, as well as continuing to invest in shared solutions like the Post Office and banking hubs.

“Digital banking continues to provide new and inclusive ways of allowing the overwhelming majority of our individual and business customers, including the elderly and vulnerable, to bank with us in ways that they weren’t able to before.

“But we know that a small number of people are not yet comfortable with it, which is why we are proactively reaching out to support them with this transition, having made over 200,000 calls last year. We also have experts that they can speak to for support and guidance.”

What can you do if your local bank closes?

If a recent bank or building society closure has left you without one nearby, you have some alternatives.

You can carry out most basic banking tasks at your nearest Post Office, although you won’t be able to apply for a loan or open a new bank account there.

You can find your nearest Post Office branch by using the locator tool on its website.

Some banks offer a mobile banking service – a bus that comes to your area offering services you can usually get at a physical branch.

Other banks use buildings such as village halls or libraries to offer mobile banking services.

It’s worth contacting your bank to see what services they have available, and when they might next be in your area.

Banking hubs, which offer traditional shared services, have also been set up in dozens of locations around the UK to help plug the gap.

If you’re thinking about giving online banking a go, comparison website Uswitch has a useful guide on all the need to knows.

Do you have a money problem that needs sorting? Get in touch by emailing [email protected].

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories.