Welshpool's NatWest to close as Mid Wales branches axed

The bank has said it will be closing its Welshpool branch on September 27, its Builth Wells branch on October 10 and its Machynlleth branch on October 12.

However no branches in Shropshire are affected by the cull, the firm have said.

NatWest blamed the move on a fall in customers using branches linked to major changes in the way people do their banking, with online transactions rising by more than 400 per cent and mobile transactions increasing by 1,350 per cent, between 2010 and 2015, the firm said today.

Sean Palmer, a spokesman for NatWest, said the firm has taken the "difficult decision" to close the branches.

He said: "Since 2011 we have seen the number of transactions in the Welshpool branch decline by 22 per cent, in the Builth Wells branch decline by 39 per cent and in the Machynlleth branch decline by 13 per cent.

"These customers are actively choosing to bank in different ways, with 55.9 per cent of customers in our Welshpool branch of customers choosing to use our digital banking options. This figure is 50 per cent for our Builth Wells branch and 48.1 per cent in Machynlleth.

"We are communicating with our customers affected by the closures and proactively contacting vulnerable and regular branch customers.

"We have listened closely to feedback from local communities and have extended the time between announcing our decision and the branch closures to six months. This has been done in order to ensure our customers have time to consider the right banking options for them."

News of the closures have sparked anger among local residents and politicians, and now community campaigners in Welshpool have started up petition calling for NatWest to reconsider its decision to close its Welshpool branch.

Russell George, assembly member for Montgomeryshire, said bank closures are having a "devastating effect" on the region's town centres.

He said: "This is another big blow for Montgomeryshire and follows a series of bank closures in recent years - from Montgomery and Llanidloes to Llanfair Caereinion and Machynlleth.

"While the decision to maintain a branch is ultimately a commercial decision for the banks, when I meet with NatWest bosses, I will be forcefully making the point that mobile or online banking doesn’t always replace permanent over the counter facilities, especially given the fact that the quality and reliability of mobile coverage and broadband speeds in parts of Montgomeryshire is still poor or non-existent.

“Until an alternative solution is in place which is satisfactory to communities in Mid Wales, I urge NatWest to defer its decision to close its branches in Welshpool and Machynlleth.”

Mayor of Welshpool, Councillor Steve Kaye said the news was "big shame" for Welshpool's high street but understood the bank's decision.

He said: "It is a big shame for our town and our main street because it's going to be a big building stood empty when it closes, and it'll be difficult for those who use the bank on a regular basis but I'm afraid it's the way of the world now and if online banking is taking over, this is what's going to happen."

NatWest say the nearest branch to Welshpool is Newtown, 13.5 miles away, while the nearest branch to Machynlleth is Dolgellau 16.1 miles away and for Builth Wells, Brecon which is 16.5 miles away.