More than 500 high-street bank branches will close their doors this year but one small building society is bucking the trend.
Nottingham Building Society is taking over seven branches currently owned by Norwich & Peterborough Building Society, which were among 28 branches facing closure from September.
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The Nottingham has taken on 19 branches previously owned by rivals since 2012. The new market-town sites in Spalding, Stamford, Huntingdon, Bourne, Thetford, Dereham and Fakenham will expand the network to 67 – more than double the number of branches it had five years ago.
In addition to everyday banking services, the mutual offers financial planning and estate agency services. It also offers whole-of-market mortgage advice, which is free for Nottingham Building Society members who have had at least £500 in one of its savings accounts for at least a year.
It charges a fee of £249 to non-members or new customers or £149 for new customers to estate agents Harrison Murray and Nottingham Estate Agency. Previous customers of Nottingham Mortgage Services will also get the cheaper deal.
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Banks closing branches say their customers’ banking habits have changed and more people are using online and mobile services.
For example, Royal Bank of Scotland and NatWest, which announced 158 site closures in March this year, said branch transactions have fallen 43pc since 2010 and mobile transactions have increased by more than 400pc.