‘A lack of social concern and responsibility’
MP Ann Clywd leads the angry reaction
A BANK’S closure in Aberdare shows a lack of social responsibility and will hit the elderly and disabled hardest, it has been claimed.
It comes after it was announced last Thursday the NatWest on Victoria Square is to close because the number of transactions over the counter have declined by 31% since 2011.
Last year, the bank nearly halved the opening hours of the branch from 37.5 hours per week to 20.
Ann Clwyd, who has been the Cynon Valley MP for 32 years, said: “I know how my constituents – especially elderly and disabled constituents – rely upon local bank branches.
“In the last year, we have seen HSBC and Lloyd’s close branches and I know that it has had an adverse effect on my constituents.
“It is, therefore, unacceptable that NatWest has decided to do this. It shows a lack of social concern and responsibility as many residents in the Valleys are not familiar with telephone and internet banking.
“NatWest should make more effort to ensure that no-one is left behind in the Valley.”
The branch is one of eight NatWest and Royal Bank of Scotland branches across Wales to close, with 150 across the UK and a total loss of 470 jobs.
After the closure, the closest NatWest for customers in Aberdare will be the Heads of the Valley branch in Merthyr Tydfil over seven miles away.
The closures are being blamed on a “dramatic shift” in the way that customers use the bank – with a switch to people banking online or through apps.
The bank said that between 2010 and 2015, mobile and online transactions have increased by over 400% and mobile transactions alone have increased by 1,350%.
The other stores in Wales to close include NatWest stores in Ystrad Mynach, Ebbw Vale, Monmouth and Pontypool.
The Aberdare branch is set to shut on September 21, and Vikki Howells, AM for the Cynon Valley, said: “When the reduction in hours was announced last year, I placed on record my concerns that this would further reduce demand and that this would then be used as an excuse for closure of the branch in future.
“Sadly, this appears to be what has happened, despite my request for NatWest to give a guarantee that this will not be the case.
“This is bad news for staff and the customers who have been loyal to NatWest, and I will be urging that this decision be overturned”.
A spokesperson from RBS said: “We have seen a dramatic shift in the way our customers are choosing to bank, with more using mobile and online over traditional branch counters.
“Simple transactions undertaken in branch at NatWest and Royal Bank of Scotland have fallen by 43% since 2010, while online and mobile transactions have increased by more than 400%.
“Since 2011 we have seen the number of transactions in the Aberdare branch decline by 31% and in Ystrad Mynach by 26%. These customers are actively choosing to bank in different ways, with 62.4% of customers of the Aberdare branch choosing to use our digital banking options.”