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News Archive > General > Another town centre bank set to close

Another town centre bank set to close

By Warren Wilkins 6th December 2017

Another town centre bank set to close

NEWQUAY is set to lose another bank, leaving only one remaining in the town centre.

The Royal Bank of Scotland revealed it will be closing its Newquay Bank Street branch on Monday, February 19, due to a fall in the number of people using the bank. NatWest says that since 2012 transactions in the Bank Street branch have fallen by 31% and only 68 customers visit the branch on a weekly basis. A spokesperson for the Royal Bank of Scotland said: “Since 2012 we have seen the way in which people use NatWest Newquay Bank Street branch change dramatically, with 89% of customers already banking in other ways locally and 66% of Newquay customers now choosing to bank digitally with us on a regular basis instead.

“We are following the Access to Banking Standard and we have made our decision after careful consideration of a wide range of factors, including changes in customer usage of the branches over a long period of time, how often customers are using the branches and the types of transactions they undertake, the number of customers who only bank via the branches, and the other ways our customers can bank locally.”
But a number of local residents have raised issues about accessing services unavailable online, as well as the number of cash points that will available in the town centre. 

One resident said: “We can’t use online services for everything, some bank accounts don’t issue cashcards such as children’s accounts, businesses need to be able to bank and collect change and for charities and community groups, who have to have multiple
signatures on their accounts, it’s going to be a trip to Truro for the whole committee!”
Another added: “We already have issues getting to cashpoints during the busy season. How are we going to cope without the NatWest cashpoints?”

A spokesperson from NatWest said: “We are proactively communicating with our customers affected by the closure and will be contacting vulnerable customers and regular branch users. We provide a range of alternative ways to bank, tailored to the needs of customers and reflective of the way they live their lives. “We know that not all of our customers are
comfortable or familiar with using online or mobile banking, so we have created a new
specialist taskforce of NatWest TechXperts who will be dedicated to supporting our customers with training and support with digital skills until the branches close. We will also be introducing Community Bankers who will provide customers with personal assistance and support to access our non-cash services, as well as help with achieving their financial plans and goals – replicating many of the services available in our branches.

“Our Community Bankers will get to know the local community, engage with local groups and provide training and education on issues such as fraud and scams protection in the local area.”
The Newquay branch is among six Cornish branches which will be closed by summer 2018, the others being St Ives Wadebridge, Bodmin, Helston and Liskeard.
The closest NatWest branches for residents will be St Austell or Truro although some services, such as cash withdrawal and deposit with chip and pin, can be completed at a local Post Office.

By Warren Wilkins 6th December 2017

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