JEFF PRESTRIDGE: ‘Last’ financial institution in Windsor an indication of issues to return

There is a spring within the step of these good individuals who run Nationwide – by a rustic mile, the nation’s largest constructing society. They have simply agreed to buy rival Virgin Money – and so they’ve bought the banks firmly on the again foot over their collective propensity to axe branches as if they’re useless wooden.

Having not too long ago irritated its banking rivals with a witty TV advert that includes Dominic West as a swaggering, smoothie-drinking, branch-axing banker, Nationwide has now taken one other swipe on the banks.

This time, it has put up an indication alongside a highway on the outskirts of Windsor in Berkshire which says: ‘You at the moment are leaving Windsor. Just like the large banks.’ Underneath these phrases, it provides: ‘Unlike the large banks, we’re right here to remain.’

Unlike the fictional character it created for its advert, Nationwide is useless proper about Windsor. This superb Royal city misplaced its final banks simply over six months in the past when Barclays and HSBC shut their branches inside a day of one another. Other banks – Lloyds, Metro, NatWest, and Santander – had lengthy abandoned the city.

As a consequence, Nationwide is the final ‘financial institution’ standing and as a part of a pledge made final June, it is not going to be leaving Windsor or some other city or City it has a presence in till no less than 2026. The solely different financial institution to have made something resembling an identical pledge on branches is HSBC which stated late final yr that it might not announce any extra closures this yr. So far, it has been true to its phrase.

I belief Nationwide will quickly be placing up related indicators in cities the place it’s now the final ‘financial institution’ standing. According to long-standing neighborhood financial institution campaigner Derek French, Windsor is one in all 37 largish cities (with populations greater than 15,000) the place Nationwide is the one ‘financial institution’ current.

Bizarrely, says French, these 37 cities ought to all qualify for a banking hub (a neighborhood financial institution funded by all the large banking manufacturers). But as a result of Nationwide continues to be on the town, the banks will not fund them.

Shameful.

As for the Nationwide TV advert that has irritated the banks a lot, Santander has filed a grievance to the Advertising Standards Authority (ASA). It argues that the advert is deceptive about banks closing branches – and each denigrates and discredits opponents.

On Friday, the ASA informed me that its investigation into the complaints surrounding Nationwide’s promoting marketing campaign was ‘ongoing’.

Although the advert is just a little bit naughty, particularly when Mr West mocks a buyer who desires to talk to a department supervisor over the lack of his life financial savings (‘whole yawn fest’), I belief the ASA decides that Nationwide has no case to reply.

Why? First, Nationwide is true to mock the banks for closing branches. Since money machine community Link began compiling a listing of closure bulletins in early February 2022, 1,325 branches have both shut or been informed that they’re shutting someday quickly.

Of these, solely 22 are Nationwide (all pre the June 2023 pledge). While Santander has solely introduced six closures over the identical interval, it did shut 111 in 2021.

Secondly, is not it nice to observe a monetary advert that for as soon as makes you giggle slightly than yawn out loud. I might slightly watch Dominic West’s pompous banker any day over horses (admittedly lovely on the attention) galloping throughout the Sussex countryside in an effort to persuade us that Lloyds will all the time be by our facet.

A department befitting the Bard… 

Like a lot of you, I’m a little bit of a geek on the subject of financial institution branches – former ones and current premises.

Quite typically, I marvel at their architectural magnificence and their imposing presence on the excessive avenue.

Such was the case eight days in the past once I spent a nice afternoon nosing round Stratford-upon-Avon in Warwickshire, visiting the house that William Shakespeare was introduced up in and the close by church (Holy Trinity) the place he’s buried. 

While wandering the streets, I used to be struck by the presence of all the large banks within the city: Barclays, NatWest (positioned in a constructing slightly out of kilter with the remainder of the city), Lloyds and Santander.

Good for Stratford I say. Long might they keep open.

But it was the imposing HSBC department that took my breath away – an enormous Victorian gothic constructing constructed of pink brick and terracotta.

I have never seen a department fairly as putting shortly – and it stays open for enterprise (till no less than the top of this yr, hopefully even longer).

The department’s roots return to 1810 when the Stratford Old Bank was established by three native businessmen.

The agency issued its personal notes, adorned with a picture of the bard’s head.

Indeed, the phrases ‘Old Bank’ stay over its entrance door to this present day with a mosaic of the bard just under.

The department finally grew to become a part of Midland (the precursor to HSBC) in 1914 and stays on the schedule of many Shakespeare strolling excursions that happen each day within the city.

The department is a listed constructing and it’s to HSBC’s credit score that it has maintained its integrity, even when present process a refurbishment 4 years in the past.

• Is there a financial institution department that strikes an architectural chord with you? If so, do drop me an electronic mail at [email protected].

Window on chaos in Brum… 

It was pretty to spend a while after my mum’s funeral ten days in the past reacquainting myself with Birmingham, the town I grew up in.

Highlights of the day included a go to to Birmingham Cathedral which I’ve walked previous no less than 200 occasions with out ever as soon as stepping inside.

To stand and marvel on the 4 beautiful stained-glass home windows, designed by pre-Raphaelite artist (and Brummie) Edward Burne-Jones, was a joyous expertise. They are spell-binding.

I additionally loved the Victorian Radicals exhibition on the Birmingham Museum & Art Gallery the place extra of Burne-Jones’s chic work (work slightly than stained-glass) had been on show.

The exhibition runs till the top of October and is properly price each penny of the £11 entry charge.

Birmingham has progressed since I left on the age of 18 for academia and finally the brilliant lights of London.

It is due to this fact distressing to study that Labour-run Birmingham City Council has bought itself right into a horrible monetary pickle which can end in close to double-digit will increase in council tax payments subsequent month – and savage funds cuts.

Nothing shall be spared – grownup social care, kids’s providers, assist for the humanities and native libraries.

What a fantastic disgrace. The Labour council’s mismanagement, perpetuated by Government funding cuts, now threatens the City’s very cloth.

A portent of the longer term beneath a free-spending, tax-heavy Labour authorities? Only time will inform.