Nationwide to cut its branch opening days in Ringwoood

The Nationwide branch in Ringwood, which has been in operation since the late 1970s, will soon be closed on Mondays and Wednesdays – leaving just three days a week available for in-person services.

Residents who regularly use the bank have been informed via letters about the change, in which Nationwide cited the preference of online banking use by its more than 16 million members across the UK as a primary reason behind the decision.

A Nationwide spokesperson told the Journal: “As a mutual we want to provide our members with distinctive service. This means our colleagues being where they are most needed to serve our members.

Nationwide to cut its branch opening days in Ringwood (Image: Nationwide)

“From Monday, April 17, the Ringwood branch will be closed on Mondays and Wednesdays, this will enable our branch colleagues to help members on the phone as well in person, so we are able to serve more people more quickly and keep branches on the high street.”

The spokesperson also confirmed no job losses would be incurred as a result and said Mondays and Wednesdays had been chosen because they were typically the quietest days.

The branch will instead be open from 9am to 4.30pm on Tuesdays, Thursdays and Fridays.

According to Nationwide, the number of people visiting the Ringwood branch has been steadily declining over the years. It reported a drop of 65 per cent between 2017 and 2022.

Meanwhile, 64 per cent of Ringwood branch members are already registered for online banking.

Of its members, 217 are described as “vulnerable” customers.

This comes just weeks after the Echo first reported Nationwide would lease out four of its eight floors of office space at its Portman House headquarters at Richmond Hill in Bournemouth.

This was due to a “hybrid approach” to working Nationwide said it was “committed to”.

In June last year, Nationwide pledged to keep 625 of its branches in operation until 2024 to assist with the cost-of-living crisis.

Two months later however, in August 2022, Nationwide announced its branch in Southbourne would close due to transactions at the branch dropping by 15 per cent over the five years up to 2020.