. The branch will not have frontline cashier services or an ATM, meaning customers will be unable to make deposits or withdrawals at the branch. Instead, it will help customers with other banking functions, including appointments to open ISAs or other types of savings accounts and for applying for mortgages.Customers can also make video banking appointments to speak with bankers via video chat and there will be a presentation space available for seminars.
Opening a branch without cashier services may be a cost-effective way to offer a physical touchpoint for more complicated services.
But the fact remains that the UK is having a cash access crisis, so a branch without cash might be missing a chance to offer a crucial service to clients. There were a staggering 3,303 bank branch closures in the UK between January 2015 and August 2019 — equivalent to 34% of the overall branch network in country, according to data from Which?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple may have to open NFC technology to others - Business Insider - Business InsiderA German law would make Apple offer NFC technology to other firms – impacting Apple Pay since it doesn't currently offer its NFC technology to others.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Google is planning to break into banking with new checking account offerings - Business InsiderGoogle will offer checking accounts to consumers next year, with the accounts themselves provided by Citigroup and Stanford Federal Credit Union.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How Brazil is leading Latin America's fintech revolution - Business InsiderLatin America Fintech Snapshot - Brazil: BIIntelligence examines how the region's economic powerhouse is leading its fintech revolution
Source: BusinessInsider - 🏆 729. / 51 Read more »
Mars' plan to fix a 'broken' global supply chain with $1 billion - Business InsiderMars CEO says the global supply chain is 'broken.' Now, the $35 billion food industry giant is investing $1 billion to fix it.
Source: BusinessInsider - 🏆 729. / 51 Read more »
The UK Labour Party plans to nationalize British Telecom - Business InsiderJust weeks before the UK General election, the Labour Party announced plans to provide free, nationwide full-fiber broadband access by 2030:
Source: BusinessInsider - 🏆 729. / 51 Read more »
Sentry changed to BSL because Amazon is a 'huge business liability' - Business InsiderSentry CEO David Cramer explains why his company changed its open source licenses to the Business Source License, which was created by Cockroach Labs.
Source: BusinessInsider - 🏆 729. / 51 Read more »