Customers told Nationwide is to close Bow branch
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Customers have been told their Nationwide building society branch is closing down in Bow after more than 40 years.
The Roman Road market branch has been left off a £225million upgrade programme started in 2017 to modernise branches and bring them up to scratch in digital banking.
“It was a difficult decision,” a Nationwide spokesman told the East London Advertiser. “But we’ve looked at the number of people using the branch.”
The mortgage and banking organisation has upgraded 240 branches including Aldgate, Hackney and Stratford, but felt investing in 565 Roman Road was not worth it.
The spokesman explained: “We must consider whether it’s in the interest of our wider membership to keep a branch open that requires significant investment. This is the case with Bow, where we have six branches within a three-mile radius.”
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Five out of every 100 Nationwide branches have closed since 2015.
Customers from Bow are being referred to Aldgate High Street, Mare Street in Hackney and Westfield Stratford City.
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Other branches include Green Street in Plaistow, High Street North in East Ham and Lea Bridge Road in Leyton, as well as The City at Moorgate and Threadneedle Street.