Nationwide has made a major announcement that will affect all its customers, as the building society reinforces its dedication to the high street. From June 4, Nationwide will officially become the UK's largest group branch network, a title it claims as other banks continue to close their physical locations.
The network comprises 696 branches in total, including 605 Nationwide outlets and 91 former Virgin Money branches. This expansion follows Nationwide's acquisition of Virgin Money last year.
Commitment to branch banking
Nationwide has pledged to keep every single branch open until at least 2030, a promise made in November. The building society reports that last year it supported 6.7 million unique branch users and was responsible for 57% of all UK branch-based product openings. Branch current account sales increased by 21%.
Nationwide continues to invest in both its physical branches and digital services, aiming to offer customers a choice in how they bank.
Director's statement
Mandy Beech, Nationwide's Director of Retail Services, said: "As banks continue to close their doors and step back from the high street, Nationwide will become the UK's largest group branch network. This is a major milestone for us and reflects our belief in the value of in-person banking and the reassurance it offers our members and the communities we support."
She added: "Our data shows branches are very much valued by our customers, with usage rising, and as part of our investment in giving customers real choice in how they bank – whether online, in branch or on the phone - we're proud to stand by our commitment to keep every one of our branches open until 2030."
Virgin Money branches help close digital divide
As part of the takeover, Virgin Money branches are playing a role in reducing digital inequality. They offer free mobile data through the National Databank. Anyone experiencing data poverty, whether a customer or not, can visit a branch and receive a SIM card loaded with 25GB of data each month for a full year.
