Three of the UK’s high street banks are planning a joint business hub due to branch closures, small firms are being affected by the closures.
Barclays, Natwest and Lloyds Bank will launch six business hubs across the UK, the hubs will allow businesses to pay large volumes of money and cheques in.
According to a parliamentary review in 2018, branch closures across the UK has fallen from 11,365 in 2007 down to 7,207.
Alison Rose, deputy chief executive at Natwest said, “Natwest deputy chief executive Alison Rose said.
“It is now more important than ever that we continue to offer innovative services, and we are creating an infrastructure that allows small business owners and entrepreneurs to do what they do best, run their business.”
Ian Rand, business banking chief executive at Barclays said, “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.”