In a significant move for UK high streets, Nationwide Building Society has announced a major extension of its branch network commitment, guaranteeing that 696 Nationwide and Virgin Money locations will remain open until at least 2030.
A Stand Against Widespread Closures
This new pledge extends the society's existing Branch Promise by a minimum of two years and represents a stark contrast to the ongoing closure programmes seen across the wider banking sector. Since January 2015, a staggering 6,561 bank branches have shut their doors across the UK, according to figures from the consumer group Which?. Nationwide's decision directly counters what has been described as the largest wave of bank branch closures in the nation's history.
The commitment applies comprehensively, even in areas where a Nationwide branch and a Virgin Money branch operate in close proximity to one another. This ensures continued physical access to banking services for communities across the country.
Customer Demand Defies Digital Trend
Nationwide's strategy is firmly backed by clear customer behaviour data. Contrary to the assumption that everyone has moved online, branch usage saw an 11% increase in the 12 months leading up to September. The importance of physical locations for key banking activities remains pronounced.
In the six months to the end of September, over a third (33%) of all new Nationwide current accounts were opened in a branch, with savings account openings in branch exceeding a fifth (22%). These figures represent year-on-year volume increases of 28% and 31%, respectively.
ATM Usage and Community Impact
The value of maintaining a physical presence is further highlighted by ATM usage statistics. Overall ATM transactions rose by 5% in the period, with a notable 17% increase in usage by non-Nationwide customers at in-branch machines. This underscores the role these branches play as essential financial hubs for entire communities, not just existing customers.
The impact is most acute in locations where Nationwide has become the last bank in town. In these branches during 2025, current account openings surged by 29% year-on-year, and ATM usage jumped by 25%. Perhaps most tellingly, in these sole-remaining branches, ATM use by customers of other banks skyrocketed by 96%, demonstrating the severe customer impact when local banking services are withdrawn.
Leadership Commitment to High Streets
Dame Debbie Crosbie DBE, Group Chief Executive at Nationwide, emphasised the society's community-focused ethos. "Our customers can be confident that they can bank with us whichever way they choose," she stated. "Branches are important to our customers, to communities, and to the health of our High Streets. That’s why Nationwide will continue to keep branches open in addition to our investment in online and telephone channels."
This announcement solidifies Nationwide's position as a key proponent of maintaining face-to-face banking services. While continuing to invest in digital and telephone platforms, the building society is making a clear, long-term bet on the enduring value of the physical branch for millions of UK residents.
