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NatWest branch closures would make life hard on elderly, councillor says

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December 5, 2024
2 min read

NatWest branch closures would make life hard on elderly, councillor says

NatWest will close a further two branches in central London by August, leaving the banks with just a single site in the West End. Councillors have warned of the impact this could have, especially on elderly residents as the bank revealed that its branches in Baker Street and Spring Street in Paddington would shut their doors.

In the last two years, the country has seen over 1,350 banks shutting down from the high street and a further 15 will be closed down in central London.

NatWest will also close its stores in Abbey Road, Notting Hill Gate, and Finchley Road. The closures, the bank has said, is to reflect “changing habits,” as it claims that just ten customers a week used the Baker Street branch in 2023 and just four for its Paddington site. NatWest has also closed banks in Piccadilly, Edgware Road, and Marylebone High Street.

For the next sites to close, 250 Regent Street would be the nearest branch that customers can use. It also said that it would maintain its Camden Town and Tottenham Court Road locations. But these locations are all over a mile away from the previous branches.

The move, councillor Paul Dimoldenberg who represents Hyde Park Ward said, would “make life difficult” for older and long-standing customers, as well as increasing the need for businesses to keep cash on site.

“As far as I can make out there will be just one NatWest branch left in the West End – in Regent Street,” he said. “Not all residents can access their accounts online and the closure of these two branches will inconvenience many of your older customers. The nearest NatWest branch will be almost two miles away and that will certainly make life difficult for many of your older, long-standing and loyal customers. I urge you to reconsider this decision.”

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