Last bank in growing town closes its branch doors

The NatWest branch in Station Road, Paddock Wood, will not re-open

The last remaining bank in Paddock Wood has closed its doors for the final time.

NatWest, which closed its branch in Station Road on Thursday, is the last of several banks to have left the Kent town, following the departures of HSBC and Barclays.

Paddock Wood is an area with an expanding population after thousands of new homes were built over the last decade.

A NatWest Group spokesperson said: “As we adapt our services to meet changing needs, we may take the difficult decision to close or consolidate some of our branches.”

Local residents have been told they can use the Post Office to do basic banking, such as withdrawals of cash, paying in cheques or balance enquiries.

However, customers who need to make a payment and/or transfer will have to travel to another NatWest branch.

The closest branch to Paddock Wood is now in Tunbridge Wells

The nearest branch is now in Tunbridge Wells.

NatWest says that a wide variety of services are available online through internet banking.

This can be done via its app, using video banking for personal and business services, or by calling the banking phone number.

'Disappointing'

In a leaflet to customers, NatWest said its customer numbers using the branch had decreased by 67% between 2019-2023.

In 2022, 72% of customers who used the branch for banking personally also used their Online Banking service.

The spokesperson said: “While we know that this is disappointing, we have carefully considered how best to invest to make sure we have a sustainable network for the future.

“We are also significantly investing in refreshing our network.

"We are investing close to £35m in our network across the UK from 2023-24, as well as continuing to invest in shared solutions like the Post Office and banking hubs.”