MONMOUTH’S Natwest branch is to close later this year, one year after opening hours were cut to save money.

The branch will close for good on 3rd October.

A spokesperson for the company said: “The way people choose to bank with us has changed radically over the last few years. Since 2011 we have seen the number of transactions in the Monmouth branch decline by 37 per cent. These customers are actively choosing to bank in different ways, with 58.9 per cent of customers choosing to use our digital banking options.

“We are communicating with our customers affected by the closure and proactively contacting vulnerable and regular branch customers.”

The bank maintains that there are other ways use the bank despite to closure. A ‘specialist taskforce’ will be dedicated to supporting customers with digital skills, while Natwest customers will be able to pay money in, take money out and check balances at the Post Office.

Monmouth MP David Davies has queried why modern banking has been allowed to have such an impact on local branches: “I bank at Natwest myself,” said the MP who lives in Monmouth, “and I’m very saddened to see it is closing.

“To some extent, all banks have helped bring this about by encouraging us to bank online.

“I’m mainly concerned about older people, businesses and shops.

“Older people who use public transport are going to find it more and more difficult to access a bank. We’re going to end up with banking deserts in the countryside.

“I don’t know why the banks haven’t considered taking on smaller premises to deal with things like cash deposits, or sharing space with each other?”

The closest branch will now be in Ross-on-Wye.