Southgate NatWest added to growing list of local bank closures

Only five personal customers are said to still be using the branch on a regular weekly basis

NatWest in The Broadway, Southgate
NatWest in The Broadway, Southgate

NatWest is closing its bank branch in Southgate after over-the-counter transactions fell by 60% in four years.

NatWest is due to close its doors at The Broadway on 5th October, with customers being advised to instead use the bank’s Palmers Green branch in Green Lanes after this date.

Justifying the closure, NatWest points out that as well as in-person transactions falling by 60% in Southgate, the number of customers using mobile banking has risen by 49% over the same period. Only five personal (non-business) customers are said to still be using the branch on a regular weekly basis.

In a statement to customers, NatWest said: “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 can stay open.

“So, we want to make sure that we keep the branches people are using most.

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“We completely understand that online banking isn’t right for everyone. Sometimes you want to chat things through with someone. We promise that you’ll still be able to talk to one of our team either on the phone, by video or in one of our other branches.”

For any customers wanting to know more about how the closure affects them and what alternatives are available, a drop-in session is being hosted at the Southgate branch on Thursday where they can talk to staff.

Enfield Southgate MP Bambos Charalambous says that despite the transition to online banking, major banks such as NatWest still have a duty to help people who choose not to, or are unable, to use it.

The MP wrote in his weekly newsletter: “Across the UK, the number of bank and building society branches has decreased by over a third since 2012. Locally, we have seen similar trends, with Nationwide, HSBC, Barclays and Santander closing local branches in recent years.

“While of course the way many of us bank has changed over time, I do think we have an important duty to support those who haven’t yet moved to online banking. We have to maintain an easy-access and free-to-use cash network, as well as face-to-face banking services, as we do not want to see people cut off from full participation in society, unable to access goods and services. I am therefore pleased that the Palmers Green branch of NatWest will remain open to customers.”

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