Key Highlights
- Nationwide Building Society has pledged to keep all its current branches open until 2030.
- At 133 locations, Nationwide is the only bank or building society branch remaining.
- The Digital Poverty Alliance CEO warns of increased financial exclusion as banks close down.
- New banking hubs run by the Post Office offer some services but may lack local familiarity.
Banking Transformation and Branch Closures
Nationwide Building Society has made a significant announcement regarding its branch network, promising to maintain all current branches until at least 2030. This pledge comes amid an ongoing trend of in-person banking services declining across the United Kingdom. The building society’s decision reflects a broader shift towards digital banking and online transactions among many financial institutions.
Current Branch Landscape
The announcement by Nationwide highlights that, as of November 12, 2025, 133 locations are left with only Nationwide branches. These include busy areas such as Leatherhead, Hertford, and Rickmansworth. This situation raises concerns about financial exclusion in regions where local banks or building societies have closed down entirely.
Expert Warning on Financial Exclusion
Elizabeth Anderson, CEO of the Digital Poverty Alliance, has issued a note of caution regarding the closure of bank branches. She emphasizes that the loss of local banking services can lead to significant social and financial impacts within communities. According to Anderson:
“Where local branches close, it isn’t just a financial loss but a social one.
When the last branch closes, a community loses far more than a counter service, but also access, confidence, and a sense of financial and social independence.”
Anderson further explains that physical branches provide essential services such as advice, support for managing finances, and a space where individuals can feel confident in their interactions with the banking system. The risk of exclusion increases when only one option remains, especially for those who rely on face-to-face support to manage their financial affairs.
New Banking Hubs and Alternative Services
In response to the decline of traditional branches, new banking hubs have been established. These are run by the Post Office and offer over-the-counter services in a shared facility setting. While these hubs provide some essential banking functions, they may not fully replicate the personalized experience offered by dedicated bank branches.
“People need to see these services as a continuation of their local bank, not a compromise,” said Anderson. “Clear communication, local outreach, and digital skills support are needed to ensure people know their options and feel confident using them.”
Nottingham Building Society’s Counter-Trend
While most banks have been reducing their physical presence, Nottingham Building Society has taken a different approach. The society recently opened a new branch in Nottingham city centre, marking an increase in its local offerings. Sally Gaudion, chief customer officer at Nottingham Building Society, highlights the importance of branches for complex financial queries and personal support:
“Face-to-face banking services remain essential, even as digital services dominate. While many customers manage transactions online, branches continue to play a crucial role for complex queries, savings guidance, and personal support for multiple generations of customers, particularly those less confident with technology.”
Nationwide’s Commitment and Future Outlook
In response to the pledge, Debbie Crosbie, group chief executive at Nationwide Building Society, emphasized the importance of branches in serving communities. She stated:
“Branches are important to our customers, to communities, and to the health of our high streets. That’s why Nationwide will continue to keep branches open in addition to our investment in online and telephone channels.”
Despite this commitment, Nationwide’s website does include a warning that branch closures may occur in extraordinary circumstances beyond their control.
Conclusion
The announcement by Nationwide Building Society underscores the ongoing debate around the future of banking services. While digital transformation continues to impact traditional branches, the role of local physical locations remains significant for many customers. As more areas are left with minimal bank branch services, it is crucial that alternative solutions like new hubs and community support systems are effectively communicated and integrated into local communities.
