The Royal Bank of Scotland will open a ‘cashless’ branch in London next month.
The branch will open at 49 Bishopsgate, replacing RBS’ Threadneedle Street branch which will close on 20 December.
This is thought to be the first of its kind in the UK.
The bank will have no frontline cashiers or ATMs.
What does this mean?
The branch will not allow customers to deposit or take out cash, but will be used for opening accounts and applying for mortgages. Video banking and staff assistance will be available, so while cash is cut out, there will still be the chance for that face to face conversation that’s important for many customers in an increasingly digital world.