RBS Shuts 259 British Branches as It Expands E-Banking

02 December, 2017, 00:45 | Author: Terri Saunders
  • RBS Shuts 259 British Branches as It Expands E-Banking

As a customer, you might be wondering whether it's worth the extra mileage to get to the next nearest branch remaining open.

The Laughton Road bank is one of 197 NatWest branches earmarked for closure by RBS, which will also slash 62 Royal Bank of Scotland branches.

The redundancy programme will lead to about 680 redundancies and the RBS branch network is aiming to manage this process on a voluntary basis.

Royal Bank of Scotland has announced it will close a quarter of its branches and axe almost 700 jobs in a move that unions claim could signal the end of face-to-face banking.

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"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 branch closes".

The closures and job cuts follow similar moves by Lloyds and Yorkshire Building Society earlier this week. However, understandably, unions have heavily criticised the decision; Rob MacGregor, Unite national officer, called the branch closures "savage", and asked why the Government was signing off on such a heavy package of closures, particularly when the group is still 72% owned by the taxpayer. "The Royal Bank of Scotland has chose to decimate its bank branch network". "As customers continue to change the way they bank with us, we must change the way we serve them, so we are investing in our more popular branches and shaping our network, replacing traditional bricks and mortar branches with alternative ways to bank".

Approximately 680 jobs will be cut, according to RBS.

The announcement comes after the Government last week disclosed plans to dispose of about two-thirds of its stake in RBS, selling off about £15bn a year over five years from 2018/19.

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