NatWest branch in the Heatons
Access to cash is vital, and I believe that everyone should be able to carry out their banking in a way that suits them best. That is why I strongly oppose NatWest’s latest wave of branch closures.
In 2025, NatWest is planning to close 53 bank branches. This follows the closure of 48 branches in 2024. NatWest Group, which comprises NatWest, Royal Bank of Scotland and Ulster Bank have closed 1,431 branches since 2015. This is the most of any banking group.
With regards to Natwest branches specifically, representatives confirmed that in 2019 there were 657 branches, whereas by the end of 2024 there were only 389 branches. That is a closure of 268 branches, at a rate of over 40%.
Importantly, of the 2025 planned closures, 9 of them are in Greater Manchester. One of which is the Heatons NatWest branch in our Stockport Constituency.
As such, last week I met with senior staff at NatWest to explain my opposition to the closure of the Heatons branch and try to seek some clarity into the reasoning behind this decision.
During the meeting I was keen to establish the terms in which NatWest had made the ‘commercial decision’ to close the Heaton Chapel branch. Representatives at NatWest were sure to highlight that the decision was made through a ‘holistic’ approach, and that their branch strategy is ‘customer-led’. With this, it was unclear in establishing whether Heaton Chapel NatWest is a profit-making or loss-making branch was a considered factor in this holistic approach. Likewise, when pressed, senior staff were unable to confirm whether the Heatons is a profit-making or loss-making branch.
As I understand, NatWest made an operating pre-tax profit of £6.2 billion in the 2024 financial year.
As part of the ‘customer-led’ strategy, NatWest representatives outlined that over the last 5 years, counter transactions at the branch have declined by 47%. While 78% of personal account customers accessed their money digitally either via online banking or the mobile application. NatWest representatives also confirmed that all branches marked for closure are submitted for an independent assessment by LINK, Britain’s main ATM network, and they did not recommend an ATM following the closure of the Heaton Chapel branch.
NatWest Representatives informed me of an over 60s phone line (0800 051 4176) which is open 8am until 8pm every day. Similarly, I am aware that NatWest will be hosting a ‘Supporting you through our Branch Closure’ event in the Heatons branch. The event will provide information education on finding the right local banking services, opportunity to learn about the latest frauds and scams, and support with NatWest’s digital and telephone services. As I understand this event is invite only, I would encourage those affected to contact the branch directly for further details about the event and information on options for support.
Furthermore, representatives shared that NatWest have introduced a postal cash delivery service for their vulnerable customers, as well as offering cash collections, deliveries and secure ‘Intelligence Safe’ cash storage for business customers.
With that said, the curtailment of local financial services will have an adverse and disproportional impact on low-income people, the retired community, disabled people, and people with a lower level of online literacy.
Although the Heatons branch is within close proximity to Post Office branches which offer cash access services, I still believe that this closure is not good enough.
According to data published in 2023, the Financial Conduct Authority (FCA) identified Greater Manchester as one of the four areas in Britain with a notably higher proportion of ‘unbanked adults’ (i.e., people without access to a bank account). Similarly, the threat of financial exclusion has a stronger link to deprivation, as nearly four percent of adults in the most deprived areas of Britain were ‘unbanked’, in comparison with less than one percent of adults in the least deprived places.
As well as this, it is important to note, that the group, formerly known as Royal Bank of Scotland (RBS), was rescued at the height of the 2008 financial crisis with a £45 billion government bailout, with taxpayer ownership peaking at 84% in 2009. Although since then successive governments have been scaling back government shares, I believe that Natwest Group still has a duty of care to the taxpayer and should continue to provide services which are vital to community life.
Moving forward, I have requested for LINK to carry out a cash access survey for the Stockport constituency, and I hope this is something they can assist with.
Please rest assured that I will continue to oppose these closures, both nationally and locally.