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Bank charges: Nationwide to see closures

Nationwide has announced that it will be rebranding, which will result in some of its branches closing.

Additionally, 500 jobs are set to go in the process, as it integrates building societies in Dunferline, Cheshire and Derbyshire into its more major operations.

Half of these 91 branches will be converted into Nationwide banks, while the others have been tipped for closure.

Nationwide says that it will be closing these building societies down by 2015, starting with those in Dunferline.

This is bad news for customers at Nationwide’s building society branches as they are currently unable to use Nationwide.

These brands were initially taken in during the financial crisis, when they had suffered huge losses as a result of their portfolios on loans such as mortgages.

It was during this time that many other banks and building societies had to be bought out by other banks. An example of this is the acquisition of HBOS by Lloyds Banking group.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801581407-ADNFCR

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