Closure of Muswell Hill bank branch 'incredibly disappointing'

The NatWest branch in The Broadway will close on 6th August due to declining custom

NatWest has announced the closure of its bank branch in Muswell Hill later this year.

Customers of the branch located in The Broadway are being told to use other branches in Palmers Green, Wood Green or North Finchley after closure goes ahead on 6th August.

The reasons behind the move are a 41% decrease in the number of counter transactions for personal customers, with 79% of personal branch customers said to also use online or mobile banking and only 13 personal customers using the branch on a weekly basis last year.

In the official statement to its customers NatWest said: “Banking has changed dramatically in recent years, with an increased demand for mobile and online services, as our customers benefit from a faster and easier way to bank. Closing a branch is a decision we take very seriously.

“We know it can affect those less confident with alternatives we offer. We’ll always work hard to guide and support you through the changes and find the best way to serve you from now on.”

The bank also promises to be on hand to help with any queries regarding getting started with online banking or the NatWest app.

In addition to the Muswell Hill branch, the bank plans on closing down another 18 of its London branches this year alone, including ones in Hackney, Edmonton and Finchley Road.

In response to the news Muswell Hill’s Lib Dem councillor Pippa Connor said: “This is incredibly disappointing news for our high street. Muswell Hill has lost a number of bank branches over the past couple of years, and this is an unacceptable state of affairs. Bank branches are a vital lifeline to many residents, especially older people, and we need to find a way to protect this service.

“Local Lib Dems are pushing for the creation of a ‘bank hub’, which would see all the major banks and building societies hosted together in a single building. These have been trialled successfully elsewhere, and banks in Muswell Hill need to come together and set up a similar scheme.”

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