03/04/2014

RBS To Close 44 Branches

The Royal Bank of Scotland (RBS) has said it is to close a total of 44 branches across the UK.

It is understood the move is due to a 30% fall in branch transactions over the last four years.

Of the branches that are being closed, RBS has classed 14 of them as the "last banks in town". These are branches only open for a few hours a week, with only one or two customers an hour.

Despite the closures, the organisation has said most customers will still be just a few miles away from their nearest branch, with people still having access to services through the Post Office, cash machines which may be left open, or from a mobile branch.

In February, RBS said it was to close 18 branches in the UK, but this announcement of a further 26 closures takes the total number to 44.

A spokesperson for RBS said: "Banking has changed significantly over the last few years as more and more of our customers are banking with us where and when it is convenient for them.

"We have to adapt to what our customers want, which is why we're investing in a range of other ways our customers can bank with us, including online and telephone banking, our mobile app, and in any one of the Post Office's 11,500 branches across the UK."

However, the bank's announcement has been met with criticism.

Campaign group, Move Your Money, has said RBS has "consistently undermined the interests of its customers and wider society since being bailed out in 2008."

The group's campaign director, Charlotte Webster, continued: "It's no surprise, then, to see the bank let down its customers once again by upping sticks and leaving town – even where it's promised not to do so.

"14 of the 44 branches going are the last banks in town, and the Government is allowing this to happen. Banks of this scale just can't be trusted to take its customers needs into account, even when the only reason it's still around is because of our support."

(JP/MH)

Related UK National News Stories
Click here for the latest headlines.

05 May 2011
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
19 July 2012
Co-op Buys Lloyds Bank Branches
Terms have been agreed for the Co-op to buy 632 branches of Lloyds TSB and Cheltenham and Gloucester. The Co-operative Group will pay Lloyds Banking Group £350m upfront and up to an additional £400m based on the performance of the combined business. European regulators demanded the sale after Lloyds bought HBOS during the financial crisis.
22 May 2015
RBS Announces Scottish Branch Closures
The Royal Bank of Scotland (RBS) has announced it is to close a number of its branches in Scotland. Describing the move as a "difficult decision", the bank said it would offer affected customers alternative ways of using its services.
09 February 2015
RBS Warns Customers Over 'Free Trial' Scams
The Royal Bank of Scotland (RBS) is helping to raise awareness of consumer scams impacting its customers. RBS and NatWest were receiving over 390 calls a day to complain of charges of around £80 a month being applied to customers' accounts that they don't recognise.
20 November 2014
RBS Fined Over System Failure
Financial regulators have fined the Royal Bank of Scotland (RBS) £56m over a 2012 software issue that left millions of customers unable to access their money and wrongly charged as a result. The bank had begun an upgrade of system software across its business, which includes NatWest and Ulster Bank.