NatWest in Banbury will be spared but Chipping Norton’s branch will close along with 258 others across the UK.
The Royal Bank of Scotland, which owns NatWest, said the reason behind the closures is that more people are choosing to bank online or on mobile.
The Natwest in nearby Kidlington will also close, but Bicester’s branch will stay open.
A total of 62 RBS branches and 197 NatWest outlets will be closed by mid 2018 as part of the move and 1,000 roles will be affected, with 680 job losses.
The closures and job cuts follow similar moves by Lloyds and Yorkshire Building Society earlier this week.
A spokesman for RBS said: “More and more of our customers are choosing to do their everyday banking online or on mobile.
“Since 2014 the number of customers using our branches across the UK has fallen by 40 per cent and mobile transactions have increased by 73 per cent over the same period.
“Over five million customers now use our mobile banking app and one in five only bank with us digitally.”