New Nationwide ‘biggest’ update affecting 696 UK branches | Personal Finance | Finance
Nationwide is set to become Britain’s biggest branch banking network within weeks in a dramatic reversal of the High Street retreat that has seen hundreds of bank closures across the UK.
The building society said that from June 4 it would operate a total of 696 branches – made up of 605 Nationwide sites and 91 Virgin Money branches – overtaking rivals. The move comes as traditional banks continue slashing their presence on the High Street, with more than 80 branches due to close in June alone and more than 240 expected to disappear by the end of 2026.
Nationwide insisted it is moving in the opposite direction and has pledged to keep every one of its branches open until at least 2030. The mutual said demand for face-to-face banking is climbing again despite the growth of online services.
Last year Nationwide supported 6.7million unique branch users – up 5.1% on the previous year and the highest post-pandemic level recorded by the group.
It also said 57% of all branch-based product openings across the market were handled through Nationwide branches, while in-branch current account sales jumped 21%.
The building society is now the last remaining branch in town in 155 locations across Britain, with usage surging in some communities after rival banks shut up shop.
Cash machine use in towns where Nationwide became the final bank branch rose by 25% last year, including a 96% increase among non-Nationwide customers. Meanwhile, current account openings in areas where it became the last branch standing climbed 29% year-on-year.
Mandy Beech, Nationwide’s director of retail services, said: “As banks continue to close their doors and step back from the High Street, Nationwide will become the UK’s largest group branch network.
“This is a major milestone for us and reflects our belief in the value of in-person banking and the reassurance it offers our members and the communities we support.”
Nationwide chief executive Dame Debbie Crosbie said branches were becoming “increasingly popular with customers” and claimed “the tide is turning” on High Street banking closures.
She added: “What we are finding is that more and more people really value face-to-face, human contact… particularly for areas like fraud, bereavement and power of attorney.”
The lender said it is extending opening hours in some locations amid growing demand for Saturday banking.
Nationwide is also continuing to roll out community support services through branches, including dementia clinics run with Dementia UK, digital skills lessons and ‘Safe Spaces’ for domestic abuse support.
Virgin Money branches are additionally offering free mobile data through the National Databank initiative to help tackle digital exclusion.
The update comes as Nationwide prepares to hand another £100 “Fairer Share” payment to around 4.4million eligible members in June.
The group said it expects to have returned around £1.5billion to members since the scheme launched in 2023.
