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bank branch closures prompt shift to digital services and new banking hubs
NatWest is set to close 53 branches, adding to previous closures, as banks shift towards digital services, impacting around 750 jobs. Meanwhile, Santander plans to launch 18 new banking hubs to address service gaps, while other banks like Lloyds are also reducing their physical presence. Customers can still access banking services through Post Offices and upcoming banking hubs, which will provide essential cash services.
major banks announce widespread branch closures and new banking hub services
Santander is set to close 95 branches across the UK, reducing its network to 290 full-service locations, with some branches transitioning to counter-free and reduced hours. This decision, affecting 750 employees, reflects a shift towards digital banking as customer behavior changes. To support affected customers, Santander will introduce community bankers and enhance mobile banking services.
bank closures in scotland spark community concerns and customer dissatisfaction
Bank closures in southern Scotland, particularly in Peebles, have sparked concern among locals, with community council chairman Peter Maudsley noting a lack of support for the decision. He emphasized that older residents prefer in-person banking and that reduced footfall could harm local businesses. In response, a Bank of Scotland spokesperson highlighted the growing use of digital banking options, asserting that customers now have more flexibility than ever.
cash access uk revives former royal bank building as community banking hub
Cash Access UK is revitalizing the former Royal Bank of Scotland building in Wick, which closed in May 2018, to serve as a community banking hub. The hub will feature two meeting rooms, an ATM, and a large banking hall, with plans to open before the Bank of Scotland's closure in June 2025. This initiative aims to enhance accessibility and repurpose the historic building for community use, following the loss of multiple bank branches in the area.
Wick to open new banking hub after last bank branch closure
Wick is set to open a banking hub in the former Royal Bank of Scotland building, providing essential face-to-face banking services five days a week after the closure of the last bank branch in June. Operated by the Post Office and supported by Cash Access UK, the hub will offer a counter service for basic transactions and a community banker service for more complex needs. This initiative aims to address the banking needs of the community following the loss of multiple bank branches in recent years.
barclays customers face major online banking outage on payday
Barclays customers faced significant disruptions in online and mobile banking services on payday, starting around 9:45 AM, preventing many from accessing their accounts or making payments. Over 3,000 complaints were logged, with users expressing frustration on social media about the timing of the outage, particularly while trying to pay taxes.
crédit agricole launches global trade and commodities unit under dominique honoré
Crédit Agricole CIB has appointed Dominique Honoré as the global head of its newly launched trade and commodities unit, with Vincent Gancel as deputy head. This unit consolidates trade finance, commodity finance, and supply chain finance, aiming to provide integrated solutions for clients amid economic and political challenges. Honoré emphasizes the need for agility and a transversal approach to enhance efficiency and innovation in product development.
European Banks Cancel Dividends Amid Covid-19 Economic Challenges
In March 2020, European financial regulators recommended that banks cancel planned dividend payments to maintain capital and support the economy amid the Covid-19 pandemic. Major UK banks, including Barclays and HSBC, announced cancellations, leading to adjustments in index levels effective April 2, 2020. The timing of these adjustments affected the performance of index funds, with discrepancies noted between fund and index performance in March and April 2020.
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