A BUILDING society is set to axe branches across south Essex leaving customers having to travel to other towns to do their banking.

Nationwide has confirmed it will be closing outlets in High Street, Billericay, and London Road, Benfleet, on New Year’s Eve, because they are no longer “economically sustainable”.

Branches in Hockley and Maldon are also to close.

Although customers can make deposits and withdrawals at the sites, Nationwide chiefs say they are not classed as “branches” and are instead known as “agency outlets”.

The Essex cull is part of an exercise to shut the 130 Nationwide branches across the country which are located in third-party premises, such as estate agencies or solicitors’ offices.

These sites offer limited services and are run by non-Nationwide staff.

Customers were sent letters this week telling them of the changes. Affected residents will now have to go to Basildon or Rayleigh to do their banking.

The news has angered some customers who rely on having a branch on their doorstep.

James Smith, 42, of Grey Lady Place, Billericay, said: “Part of the reason I chose that bank is that it was in the High Street and because it was open on Saturday morning. It was for convenience value, so this news is very annoying to me.

“I, like I think most customers, don’t want to be driving all the way to the town centre just to put a cheque in.”

Matthew Wyles, group distribution director for Nationwide, said: “This decision was reached after very careful consideration.

“We recognise the long-standing relationships many of our agents have with our customers, and we thank them for their loyal service to Nation-wide over the years.

“During these difficult times, every penny we spend on unprofitable activity stops us returning value to our members in the form of better rates and products. Regrettably, it is no longer sustainable for us to operate an agency network which 95 per cent of our customers never use.”