Major changes at Santander, NatWest, and First Direct this August

A financial expert has outlined several major changes hitting banks in the coming days.

Caroline Butler, who frequently shares her expertise on finance and shopping matters, used TikTok to detail the forthcoming alterations , reports Birmingham Live.

She declared: "There are major changes coming to UK banks in August and you need to know about them."

Santander

Caroline warned that Santander customers should brace themselves for potential 'cash chaos'.

She explained: "Santander are shutting down 14 more of their branches in August - that's part of their planned 95 closures across the UK in total."

Additionally, five other branches are becoming 'counter-free'.

She noted: "You'll have to rely on ATMs or Post Offices."

The affected branches are located in Gravesend (Kent), Allerton (West Yorkshire), Camberley (Surrey), Orpington (London Borough of Bromley) and Rotherham (South Yorkshire), Express reports.

Earlier this year, Santander revealed plans to shut numerous branches throughout 2025, with closure dates for several others still to be confirmed.

NatWest

At NatWest, business banking charges are set to climb, according to Caroline.

She stated: "In August they are increasing cash handling fees," adding: "These will increase from 70p to 95p per £100."

NatWest is also implementing changes to its cheque processing terms and BACS transactions.

Caroline revealed: "This will also increase - from 70p to 75p - while BACS transactions will increase from 18p to 21p.

"Whilst this might not seem like a lot, it will all add up."

A spokesperson for NatWest commented on the bank's August changes: "NatWest is changing the prices of some business banking services. It's been seven years since day-to-day banking charges have changed for our business customers.

"The cost of providing services has gone up so we've had to review our charges."

First Direct

Regarding First Direct, Caroline stated: "As for First Direct, they are saying 'goodbye' to paper and 'hello' to digital."

She elaborated that paper statements will no longer be sent to holders of savings accounts.

Instead, customers will need to use First Direct's app or website for transaction details.

In what she described as 'further bad news for savers', Caroline revealed the bank rate is set to drop from 4.25 to four per cent on August 7.

She warned this will result in 'shrinking returns' for savers.

First Direct recently outlined its 'smart new digital innovations', announcing several changes to mobile phone banking.

The bank stated: "When it comes to making banking better, we never think our job is done.

"It can always be improved, always be quicker, and always make your life easier.

"Recently we've put that theory into practice, and rolled out a few new ideas."