AM's dismay over proposed bank closure

Monmouth AM Nick Ramsay said he was very disappointed to hear that Chepstow’s NatWest Bank is set to close on June 8th next year and is urging the bank to reconsider and put the needs of their customers first.

NatWest attribute the “difficult” decision to close the Chepstow branch on a dramatic change in the way in which local people use the bank, with 90 per cent of customers already banking in other ways locally. Since 2012 transactions in the NatWest’s Chepstow branch have reduced by 43 per cent, with now only 24 customers visiting the branch on a weekly basis.

Expressing his dismay at the decision. Mr Ramsay said: “We’ve already seen the loss of many branches across the country but this represents an even greater erosion of banking facilities and could have a knock-on effect on business in the town.

“Undeniably, the way people choose to bank has changed over the years, with many opting to bank online, but there are still many people who prefer face to face contact and who rely on visiting their local bank, particularly older people and small shops and businesses. Sadly, this proposed closure follows a disturbing trend of bank closures in rural communities.”

“I will be expressing my concerns to a senior regional representative from NatWest who will be visiting The Senedd on January 17th.”