An MP says it's time banks used their "sky high profits to put customers first" after another branch closure was announced.

The NatWest branch in Muswell Hill is closing its doors on August 6.

In a leaflet to customers, the bank said the number of counter transactions for personal customers at its branch in The Broadway had fallen by 41% comparing January 2019 and January 2023.

In 2022, 79% of customers using the branch also used online banking or NatWest's mobile app.

Only 13 personal customers used the branch weekly last year and 108 business customers used the branch monthly on average, the leaflet added.

It is the latest in a string of bank or building society closures in Muswell Hill.

Halifax closed its branch in November last year, while Barclays Bank closed in March 2022, four months after Lloyds Bank shut its doors in October 2021. 

Hornsey and Wood Green MP Catherine West said it was "disappointing news".  

"Muswell Hill has already lost a string of banks in recent years, and it’s terrible for our high street, for local businesses and for customers especially older and disabled people who still really value speaking to someone face-to-face," she added.

Ms West added: "I want to see banks using their sky-high profits to put customers first.

"The next Labour Government will act where the Government has failed so that every community has access to face-to-face banking.”

The nearest NatWest branches to Muswell Hill are in The Broadway, Wood Green, High Road, Finchley and Green Lanes, Palmers Green.

Customers can also use their debit card to check their balance, withdraw and pay in cash at post offices in Muswell Hill, Hornsey and Highgate.

According to NatWest, across the UK they saw in-person counter transactions reduced by 60% from January 2019 to January 2023, while mobile users increased by 49% in the same time.

Other north London NatWest branches shutting are:

  • 5 Central Circus, Hendon, NW4 3LA. (August 29, 2024)
  • 490 Holloway Road, Holloway, N7 6JB. (August 8, 2024)
  • 567 Kingsbury Road, Kingsbury Green, NW9 9EP. (July 10, 2024)
  • 1 Abbey Road, Park Royal, NW10 7YQ. (July 24, 2024)
  • 106 Finchley Road, South Hampstead, NW3 5JN. (July 31, 2024)
  • 190 The Broadway, Muswell Hill, N10 3SD. (August 6, 2024)