Does ‘promise’ have a different meaning to the banks?

Wiveliscombe and the 10 Parishes rocked by the announcement of NatWest branch closure

At a time when economic recovery on the ground is still fragile, and when rural communities are struggling to maintain the local services they need, businesses and the public in Wiveliscombe and the 10 Parishes have been dealt a blow by the surprise announcement of the closure of the NatWest Bank in Wivey.

“ Nat West, in a major advertising campaign just two years ago, pledged to keep branches local, and to stay open where they are the only bank present in a town” said Heather Harvey, Chair of Retail & Infrastructure for the 10 Parishes Business Group.

“So does this mean a bank’s promise means less than those of its loyal customers who have relied on the bank’s services over many years?”

Wiveliscombe and the 10 Parishes is the third largest area in Taunton Deane – yet NatWest, in a letter to customers received this week, want businesses and customers young, old, fit or with a disability to make the fifteen mile round trip to Wellington town centre to use the recently refurbished – and now largely automated – branch of the bank there.

For those with a car this is at the very least inconvenient and expensive, but for those relying on public transport it will often be impossible. Recent cuts to bus services have left only the bare bones of a service to and from Wellington, and a trip into Taunton and back on the more regular service is costly and, at an hour one way, time consuming.

“The suggestion that customers use online banking or automated branches shows a lack of understanding of local small businesses” Heather said.

“The retail sector still involves many cash transactions and paying large sums into a machine is not secure and will be unsafe if, as Nat West suggests, we have to travel long distances carrying large sums of money.”

The risk of opportunist theft, and more planned attacks based on the necessity for routine trips into town, will be of real concern to many.

The letter to customers mentions the possibility of an arrangement with the Post Office, whereby they will be able to pay in cash and cheques over the counter of the branch in West Street.

However, discussions with the bank indicate that this is not guaranteed and that the agreement is unlikely to be in place before the planned closure of the bank in November. This can only leave those reliant on local services – the elderly, the disabled and those with young children, as well as small businesses – more isolated and increase rural exclusion.

The 10 Parishes Business Group is also concerned at the lack of consultation with the community, as there have been no posters in the branch and staff, who were unaware that the letter had been sent by Head Office, were sworn to secrecy and encouraged to tell customers to use online banking facilities. These are of little use to the many elderly people reliant on the bank, or others concerned over the possible security issues online banking raises.

“It is so short-sighted” continued Heather Harvey, “We will have a significant increase in our local population in the coming years, as new houses are built in the town. If we want them to use local businesses, we need banking facilities or new residents will drive into Taunton or Wellington, rather than using local shops and other trades.”

10PBG will be working hard in the coming weeks to do whatever we can to hold NatWest to its original promise to stay local and we have written to RBS.

We have started a petition which already has over 500 signatures. Please do sign a copy in the Bear or in Carousel Pig.

Continued lobbying and raising awareness of the closure in the local press will make sure NatWest Head Office is aware of the particular needs of the Wiveliscombe area community, including businesses.

Please do sign the petition and/or add your comments below or comment on our Facebook or Twitter pages.