NatWest on Market Street, Farnworth, will shut on May 15 this year.
This comes amidst a widespread closure of the banking giant’s branches, with 56 others nationwide due to close over the course of the year.
It says that, with the increased demand for mobile and online services, banking has changed “dramatically” in recent years.
Now, ward councillors have reacted to the announcement.
NatWest Farnworth is closing (Image: Newsquest) Cllr Nadeem Ayub, said: “It came as a surprise that NatWest is closing, it is a shame for local residents as it was ideally located.
“There are still some other banks in Farnworth, but they are diminishing as the same business model is taking place, not just in Farnworth, but in other town centres around the country.
“We would love a banking hub in Farnworth but I haven’t seen any plans regarding that at the moment. It would be ideal for people in Farnworth who can’t get into the town centre to have banking facilities nearby.
“Naturally, as NatWest have said, there is diminishing footfall in banks and an increase in online banking.”
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NatWest (Image: Newsquest) Cllr Sue Haworth said: “This is a body blow for Farnworth and most unwelcome. NatWest make no mention of the Greater Manchester Mayor Town Centre Challenge project that’s been in place since the end of 2018.
“No mention of the sizeable transformation going on in the town centre at the present time; new apartments, new houses, roads changes, pavements changes, new community hub and new commercial units.
“Find me a town with this much change going on at the present time where NatWest are closing a branch – there isn’t one!
“Therefore I ask the Board of NatWest Bank to allow a reprieve for this local branch. NatWest has been a bank here for a good while supporting those who run their own businesses deal with cash, coins and their accounts at bank counters.
“We don’t want changes to occur that will have people travelling out of Farnworth. We want more footfall in Farnworth. We know we need really good transport routes so that family members and visitors have easy ways to get to and from Farnworth.”
NatWest advises those in Farnworth to attend one of their other branches, with ones in Bolton, Monton and Bury remaining open.
A spokesperson for the bank said: “Banking has changed dramatically in recent years, with an increased demand for mobile and online services, as our customers benefit from a faster and easier way to bank.
“Closing a branch is a decision we take very seriously.
“We know it can affect those less confident with alternatives we offer. We’ll always work hard to guide and support you through the changes and find the best way to serve you from now on.”
NatWest advises those in Farnworth who need to attend a bank to go to one of their other branches.
Their Bolton branch, at 24 Deansgate in the town centre, is 3.16 miles from the one set to close.
NatWest Monton, at 196 Monton Road, M30 9NW, is 5.79 miles away, while its Bury branch, at 36 The Rock, BL9 0NU, is 6.64 miles away.
The bank also advises that banking functions such as checking your balance, withdrawing and paying in cash, can be done at the Post Office.
Cheque and cash deposits can also be made with a barcoded slip.
The three nearest Post Offices to the Farnworth Branch are Farnworth, 0.27 miles away, New Bury, 1.13 miles away and Crescent Road, 1.76 miles away.
Customers can also find their nearest Post Office by using this site: postoffice.co.uk/branch-finder.
The announcement is the latest in a wave of bank closures to affect the borough.
Barclays, Royal Bank of Scotland and TSB have all shut branches in Horwich and in their place a banking hub as opened.
A hub has opened in Westhoughton town centre.
The news comes as Farnworth town centre is undergoing a transformation.
The Farnworth Green development is set to attract more businesses to the town as well as the building of more homes in the area.
Only recently The Bolton News reported that The Coffee House was to open a branch in the town .