The continuing woes for RBS has resulted in the announcement of the closure of lots of bank branches and the NatWest in Richmond is one of the victims. That’s the second bank to go in the town this year.
Banks can close branches with little risk because you are more likely to get divorced than change banks – closing a branch doesn’t lose them much custom.
What can you do about it?
Well, if you want to ensure that bank branches stay open what you can do is vote with your feet. If you bank with NatWest or Yorkshire Bank support a bank that supports Richmond and switch to Barclays, HSBC or TSB. Make sure that if you do you tell NatWest and your new bank why you switched.
You can easily switch accounts now by using the Current Account Switching service.
I will state that I do not hold shares in either Barclays, HSBC or TSB so I won’t get any benefit if you switch!