I’m a Norwich and Peterborough Building Society customer - what do I do next?
- Credit: Mark Bickerdike Photography
I am a current account customer - what do I do now?
Norwich and Peterborough Building Society will contact each customer individually to tell them what they need to do.
It aims to have closed all current accounts by August 31, and will work with customers to switch their current accounts elsewhere.
Yorkshire Building Society does not offer current accounts, so customers will need to find a new bank or building society.
What about if I have a mortgage or savings account?
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Mortgages will continue to be paid to Norwich and Peterborough Building Society as before, said a spokesman, so customers do not need to do anything.
Savings accounts will move over to be under the Yorkshire Building Society name, but each customer will be notified in a letter what will happen to their account before it does, the company said.
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My local branch is closing – where do I go?
The group which owns Norwich and Peterborough Building Society has closed branches because of their falling use – last year, just one in four customers used a branch.
Instead they have been increasingly using phone banking and online services to manage their finances.
As a result, maintaining branches in certain parts of the country 'is no longer cost effective for the society'.
A spokesman said: 'We have a range of ways in which people can interact with use or make transactions – online, or by telephone or by using branches elsewhere in the region.'
When is this happening?
The proposals are still subject to consultation with staff members, and Yorkshire Building Society Group was unable to put a date on when that would be complete.
However, the company expects to have completed current account closures by August 31 of this year and branch closures will begin in September.
Exact dates for individual branches to close have yet to be decided but it wants to have completed the programme of closures and rebranded the remaining N&P branches as Yorkshire Building Society by April 2018.