The decision to close a downtown bank has been described as “another key to the coffin” for the area.
NatWest has sent a letter to customers informing them that their Faversham branch will be closed this summer.
NatWest Bank in Faversham Market Place will close this summer. Image: Google
The bosses made the decision to close the store as more customers switch to mobile and online banking.
It follows the closure of the city’s Lloyds Bank last year, followed closely by Barclays.
After the closure of NatWest, it will leave only the Nationwide construction company in the city.
The news has been received furiously by many Faversham residents, who have turned to local social media groups to vent their anger.
In a letter, customers were told they could use the post office to access services after the bank closed on August 25.
One person wrote: “Another key to the coffin for Faversham. It will affect trade, as people will have to go to Sittingbourne or Canterbury to go to the bank and shop there.
“Not everyone can do online banking.”
NatWest Bank in Faversham Market Place will close this summer. Image: Google
Another person said, “It’s another loss for the city. If they have to downsize due to rent, they might take over a smaller store area and use it.
“Only Nationwide and the Post Office are left now. Talk about isolating a little more those who aren’t tech experts.”
Another local said: “I think what we will get is that many more seniors who do not have computer skills will be excluded from banking services.”
And another wrote, “The city is getting bigger and bigger, but all the amenities are gone.”
The nearest NatWest branch is in the city center of Canterbury, according to the letter, but the bank also has one in Sittingbourne.
A spokesman for NatWest said: “As with many industries, most of our customers are switching to mobile and online banking because it is faster and easier for people to manage their financial lives.
“We understand and recognize that digital solutions are not suitable for everyone or for all situations, and that when we close offices we must make sure that no one is left behind.
“We take our responsibility seriously to support people who are challenged to move online, so we are investing in providing them with support and alternatives that work for them.”
Last month, we looked at why county main streets have shrunk and whether they can be saved.