Mar 12, 2019

Big banks join forces with mini-hubs for business

Three of Britain's four largest banks have teamed up to launch jointly-run mini- branches for business customers amid rising concerns that branch closures and rising costs could make it too expensive for small companies to process cash. Lenders have considered joint branches in the past, and limited services from different banks are available at the Post Office, but the business hubs are unusual in being jointly owned by the three banks. "Mike Cherry, FSB national chairman, said:"With branches closing at a rate of knots, banks now need to be working collaboratively to ensure small business owners have access to the in-person services that many need, especially where cash is concerned. "Doing so is in the banks' commercial interests - millions of small business owners want current accounts that come with branch access." "Alison Rose, RBS head of commercial and private banking, said:"We have listened to what our business customers really want from our cash services.

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