NatWest to Close 55 Branches, Including Ringwood Site
NatWest has announced that it will be closing 55 of its branches, including its site in Ringwood, Dorset. The closure, which is set to take effect on October 1, has been met with disappointment from local councillors and residents.
According to the Bournemouth Echo, Cllr Michael Thierry, of Ringwood Town Council, described the closure as a "most regrettable step". He noted that the town has already seen the closure of Barclays and HSBC branches, leaving residents with limited banking options. "Banking in the town is very fragile and it does impact on small businesses in the town who rely upon cash," he said.
Cllr Thierry also expressed gratitude that the town has a Post Office, which he fought to retain in the past. However, he questioned whether major banks could work together to bring banking facilities to communities on a shared basis. "It is a retrograde step, I have to say," he added. The nearest NatWest branches will be located in Bournemouth, Lymington, and Poole.
In response to the closure, Cllr Philip Day described the news as "very disappointing" but acknowledged that it is a "sign of the times". According to the Bournemouth Echo, NatWest shared data that showed a 51 per cent decrease in counter transactions at the Ringwood branch between January 2020 and January 2025. The bank also reported that 72 per cent of customers using the branch also use online banking between February 2024 and January 2025.
Desmond Swayne, MP for New Forest West, also expressed concerns about the closure. He told the Bournemouth Echo that he and his wife are among the many people who will feel the loss of the branch. "Alas, as more and more of us move to online banking, the cost of keeping branches open for the few that remain is difficult to justify," he said. However, he noted that banking hubs, which are starting to be rolled out nationally, may offer a solution.
NatWest has attributed the closure to changing banking habits, with more customers turning to mobile and online services. According to the Bournemouth Echo, the bank has seen a 64 per cent reduction in counter transactions and a 53 per cent increase in mobile app use over the past four years. The bank has stated that it is adapting to these changes to ensure that it can continue to provide services to its customers.
The closure of the NatWest branch in Ringwood is part of a larger trend of bank branch closures in the UK. As reported by the Bournemouth Echo, NatWest is closing a total of 55 branches across the country. The impact of these closures on local communities remains to be seen, but it is clear that residents and councillors are concerned about the loss of banking facilities in their area.
