16 October 2015

£500 million to be invested into branches

Technology is revolutionising modern banking. You can now check your balance, pay bills and transfer money wherever and whenever you choose, using a laptop, tablet or smartphone.

But the rise in banking technology doesn't have to mean the demise of the traditional high street branch. There are always some things people will prefer to do at a branch, whether it’s speaking to a consultant about a product, opening a new account or resolving an issue. In fact, a massive 89% of our customers say that they value the face-to-face interaction they get in our branches.

Customers value branch interaction

This is why we’ve committed to investing £500 million in our branches over the next five years, at a time when many banks are cutting their spending in this area.

Adapting for the future

While there is still a demand for high street branches, what is clear is that they need to adapt to meet customers’ ever-changing needs.

Experience in branches very positive

As a member-owned organisation, we’re committed to responding to our changing member needs, which is why we’re planning a £500 million revamp of our national branch network over the next five years.

As part of the plans, our members will benefit from:

  • New locations –  we're opening 3 new London branches as part of our ongoing investment strategy.
  • New longer opening hours in some areas – including weekday evening opening and extended Saturday afternoon opening.
  • New layouts with more meeting spaces to give customers more face-to-face time with our team of experts in a relaxed and welcoming environment. There’ll also be space in some branches for members to relax with a coffee and watch educational videos on iPads.
  • A new seminar-based help and information service – which is currently being trialled in Nottingham, Derby and Swindon. Space in these branches is being transformed into theatres to hold seminars and talks with around 40 customers.
  • Self-service technology – Our branch staff can help customers using their own devices to manage their money online.  Customers can use services, which allow them to quickly pay in cheques, transfer money and check their balance without needing to speak to anyone.
  • Free Wi-Fi – meaning customers can log on to Nationwide’s internet banking or mobile app from their own devices in branches.
  • Roll-out of the pioneering Nationwide NOW service – connecting customers in branches to financial consultants via video link.

A new look

Branches will be getting a new, modern look to embrace changing customer habits, harness the power of technology and continue to offer more meaningful conversations with our customers. Instead of reception desks and staff behind screens, our redesigned branches will be more open and facilitate conversations between customers and staff.

These pictures show our Threadneedle Street branch, which all the new branches will be styled on.

Nationwide NOW

We know our members like to embrace technology - we support over 2.3 million digitally active customers and our Mobile Banking app has been used over 165 million times in the last year – and with the ongoing roll-out of Nationwide NOW we’re bringing more technology into our branches.

Nationwide NOW is a high definition video link service connecting customers in branches with financial consultants based elsewhere, increasing access to our expert advice. You can even complete product applications via Nationwide NOW. All paperwork is printed remotely and nothing has to be completed offline.

It helps provide customers with a more immediate service, creates capacity in larger urban locations where demand is high and ensures that customers in remote areas have access to advisers.

The service was first piloted in 2013 and is currently available in over 240 branches. The service will be rolled out to up to 400 branches nationally by autumn. So far, the service has been a resounding success, with 94% of customers being either satisfied or extremely satisfied with it.

Find your nearest Nationwide branch with our branch finder >

Source: Online research conducted May 5th – 12th 2015 by Join the Dots (Research) Ltd. amongst a broadly representative sample of 1002 Nationwide customers with experience of using a Nationwide branch.

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