NatWest, the last remaining bank in Paddock Wood, has permanently closed its Station Street branch, marking the end of all banking services in the expanding Kent city.
This closure follows previous closures of HSBC and Barclays, leaving locals without a dedicated bank.
The Paddock Wood area has seen significant population growth over the past decade with thousands of new homes being built. Despite this, NatWest has chosen to close its doors, with a spokesperson saying: “As we adapt our services to meet changing needs, we may have to make the difficult decision to close or merge some of our branches.”
Residents are now being directed to the Post Office for basic banking services, such as withdrawing cash, depositing cheques and enquiring about their balance. However, for payments or transfers, customers will need to travel to their nearest NatWest branch in Tunbridge Wells.
NatWest encourages customers to take advantage of its comprehensive range of online services, including online banking via its app, video banking for personal and business needs, and telephone banking.
The decision has been met with disappointment from the local community. In a bulletin, NatWest revealed that customer use of the branch fell by 67% between 2019 and 2023. Furthermore, in 2022, 72% of customers who visited the branch also used online banking.
A NatWest spokesperson acknowledged the disappointment but stressed the bank’s commitment to a sustainable network. “While we know this is disappointing, we have carefully considered how best to invest to ensure we have a sustainable network for the future. We are also investing significantly in modernising our network, with around £35m committed to this across the UK from 2023-24, alongside continued investment in shared solutions such as the Post Office and banking centres.”
