Thursday, March 14, 2019
Lloyds Bank, NatWest and Barclays have clubbed together to pilot 'business banking hubs' where cash-reliant firms can pay in large volumes of notes and coins.
As bank branches disappear from the high street, the three giants have decided to pilot six of the shared hubs, the first of which has opened its doors in Birmingham.
Cash and cheques may be in decline but many businesses are still heavily reliant on them and regularly need to pay in large volumes of coins, notes and cheques and complete cash exchange transactions.
The hubs will be available to pre-selected business clients in each local area and will offer extended opening times (8am to 8pm) seven days a week.
Ian Rand, CEO, Barclays Business Banking, says: "The pilot is designed to complement our existing branch network and innovative cash collect service which enables businesses to schedule cash pick-ups when it’s convenient to them.”