another bank closure

[Deleted User]

I used to bank with the HSBC for many years then about two years ago they closed the local branch so I transferred to LLoyds, now I had a letter this morning saying that their branch is closing in November . What will I do now, anyone got a reasonable idea of what company will not keep closing their branches True I am a pensioner, so don't have millions in the bank In my area within walking distance we have Barclays ,Natwest or the Nationwide, just wondering if anyone has a good word to say about any of them ?? or are they all much of a muchness

dreaming

I don't really know about the banks but I know Nationwide were advertising that they would retain a branch in every town that currently has one for 2 years. That's not to say they aren't closing branches however where there are several branches in a town. Where I live they are currently closing 3 "local" branches which means that to visit a branch will require a car or bus journey. I am a "younger" pensioner and fortunate enough to be able to run a car so getting around isn't too much of a problem for me, and to be honest I can't remember the last time I visited a branch of any of my banks as I do all of my stuff online. However there are a lot of people who will struggle to get to a branch - not just pensioners but the disabled and people with young children, not to mention those who work and only have a lunch hour to get things done.

MovingForwards

I'm with 2 and 3 of your options.

I don't often pop into branches but I love how it's more personal with nationwide, but I've found that with building societies. Staff take time to chat with customers and don't rush you even if there are a few people waiting to be seen.

xylophone

Have you ever had a Nationwide Flexdirect current account?

It might suit, particularly if you have savings of £2500 in accounts paying less than 5%.

Let's say that you do - you might switch to Nationwide ( and if you happen to know somebody who is already with NW this could be to your mutual advantage), make sure that £1000 a month goes in/out of your Nationwide account from a non Nationwide account and thereby earn 5% for a year from your £2,500 ( and 1% after that).

Even if not, NW provide a perfectly good banking service.

Otherwise, Natwest and Barclays provide a perfectly good service and offer "rewards". See their web sites.

Over to you!

badger09

What do you actually use the local branch for?

Post Office offers many of the services associated with branches, for most of the high street names. Could you use that instead?

barak

Good suggestion! The only three banks where I live - Barclays, Lloyds and NatWest all closed during 2018. Hopefully JackieO is in walking distance of a Post Office.
See https://www.postoffice.co.uk/branch-banking-services.
Lloyds also have mobile branches in vans which might be useful.

dreaming

Although these are just s likely to close as banks. The PO just round the corner from where I live (an area where there are many pensioners) has just closed. Again not a service I used very often but many of my neighbours felt safer getting their cash in there than using the hole in the wall further along. It was a very busy PO and sometimes had people queueing outside but apparently the lease of the premises had come to an end. A local shop about 5-10 minutes walk away is hoping to open up the PO but building work needs to be done and is estimated to be around October before it is complete.

eskbanker

JackieO wrote: »

anyone got a reasonable idea of what company will not keep closing their branches

First Direct
Starling
Monzo
etc

None of them has ever closed a branch....

dreaming

Just been reading our local paper and Halifax are closing their "local" branches in our town - citing the fact that "most" people do their banking on-line these days. There is a branch in town centre (a bus or car journey for most) but their spokesman has suggested that customers can still bank locally at the nearby PO. So that is 2 local parades of shops which just 5 years ago had (between them) 8 or 9 banks/building societies. Now one will have no banks at all (but still a PO) whilst the other one is down to 1 bank, 1 building society and a PO.

As I said, it doesn't particularly affect me (I guess I am part of the problem in that case) but I do know that people like my elderly neighbour (she is 89) will struggle and have to rely on other people.

Robin9

eskbanker wrote: »

First Direct................

None of them has ever closed a branch....

When HSBC pulled out then my banking facilities with FD went with it. I transferred my FD business to TSB (though for how long I don't know as they have just gone for 5 days a week to 2)

worried_jim

Haven't been in a Branch since 2005.