With HSBC in Tenby due to close this week on Tuesday, August 6 - more than half (56%) of people in Wales have been frustrated by finding their local bank branch has closed, research reveals - as Nationwide commits to staying in Milford Haven.
Nationwide, which has the biggest branch network of any UK banking brand, has been left as the only high street financial services provider in Milford Haven following the closures of Lloyds and Barclays in recent years.
The figures show that three quarters (75%) of those surveyed are concerned about the rate at which branches close2, with research from Which? suggesting that by the end of 2025 Wales will have lost two thirds of the branches that were open in 2015.
When asked why they think bank branches are important, 44 per cent said they valued talking to someone face to face, and over a third (36%) said that they believe the branch is valuable for vulnerable people.
Meanwhile, 38 per cent said if they wanted urgent help on a potential scam, they would want to speak to someone face to face – more than any other option.
Milford Haven’s branch manager, Brad McLean, said: “Our branch is used by a wide range of people for different reasons, because banking isn’t one size fits all.
“The banks have left Milford Haven, leaving us as the last branch standing to support the community. Local people tell us they need face-to-face service, especially for those big transactions and life moments, but also for advice on staying safe from scams or just for everyday banking.”
Nationwide has committed that everywhere it has a branch, it will still be there until at least the start of 2028 – by which time the building society will have been open and on the high street in the same location on Charles Street for 48 years.