Over three quarters of customers still depend on their local bank branch to manage their accounts, a mutual reveals.
Communication is key for many, as nearly half (44%) of the 2,000 respondents asked by Nationwide claimed being able to speak to someone face-to-face was the main reason they valued their high street bank.
Following its research, Nationwide has vowed to maintain its promise to keep open every branch where there is currently one in operation, until at least 2026.
The mutual has ensured the town of Winsford it will not leave the 35,000 residents in the Cheshire area without a place to manage transactions on their account in person. Since TSB closed its branch in 2022, Nationwide has remained the only branch left open for people in the town.
It follows a year where one in eight branches open in 2023 had to shut its doors for the final time this year.
Alarmingly, for many people living in rural, densely populated areas there are set to be even fewer options for 2024, as 200 branches in the UK have already been slated for closure.
A recent study by analysis company SAS UK found that half a million residents could be without a local branch next year – with Cumbrian city Copeland the most likely to become ‘bankless’ in 2024.
Local branch ‘remains integral’ for members of community
The data revealed there are already 28 constituencies that have zero banks, while Scottish constituency Ross, Skye and Lochabar lost over 98% of their branches in three years – dropping from 219 in 2020 to just four open last month.
Jenna Crump, Winsford branch manager, said: “We understand that our customers are not just account holders – they are neighbours, friends, and integral members of the Winsford community. The decision to maintain our high street branch reflects Nationwide’s unwavering dedication to the local community.”
Crump added: “We remain steadfast in continuing to provide a warm and welcoming environment where customers can receive personalised attention, guidance, and support for their financial needs. High streets need as much support as possible and we look forward to welcoming more Winsford residents to experience what face-to-face banking at their local branch means.”
