Northern Rock - cashless branches?

7sefton

Northern Rock apparently have two types of branches, those which accept cash transactions and those that don't. The two branches I have ever visited (Liverpool and Cambridge) do cash, but what do the non-cash branches look like? Are they even branches or just offices? And why have two types of branches - surely this is confusing and they may as well have one or the other?

opinions4u

Most banks have trialled branches that don't have a counter service.

Cashless is probably misleading, because they will invariable have a number of ATMs available to service demand for cash.

The utopia for a bank would be a branch where people don't transact (makes cost), but sit down for "advice" and buy lots of products and services (makes profit).

The difficulty is that if you don't provide the counter service you may not attract or grow the customer base enough to get people to sit down and buy from you!

A number of bank branches in shopping centres like Trafford and Bluewater don't provide a counter service.

savetilibleed

There's an HSBC near where I live that don't have a counter service but a line of various types of ATM, some that will accept coins (if you have an HSBC account). They have a couple of staff hovering about too where there is a computer where they let you set up banking passwords, if you have prood of ID.

Then further back there are people at desks, who 'advise' as you say.

glider3560

savetilibleed wrote: »

There's an HSBC near where I live that don't have a counter service but a line of various types of ATM, some that will accept coins (if you have an HSBC account). They have a couple of staff hovering about too where there is a computer where they let you set up banking passwords, if you have prood of ID.

Then further back there are people at desks, who 'advise' as you say.

My local branch is like this, but they have counters which are hidden upstairs. There is an obvious escalator, but staff at the bottom always seem to dissuade people from going upstairs.

I've also got a "cashless" Northern Rock round here. It is literally just a desk at the front with a couple of private rooms nearer the back. They only ever seemed to advertise mortgages, until more recently when savings accounts have also been advertised. The branch finder on their website does state they will only do cheque transactions at this branch.

In fact, every branch in the South West is cashless except Reading. The only branch in Wales is also cashless, as is the only branch in Northern Ireland.

Stompa

Perhaps you're thinking of 'mortgage branches'?

http://companyinfo.northernrock.co.uk/corporateCommunications/news/article.asp?newsID=86

Our specialist mortgage branches are designed to provide a high quality of information and advice to individual loan applicants. We have found that such centres are proving extremely popular with customers looking for a new loan, who can simply walk in off the street when it suits them. Although our mortgage branches are ‘cashless' – no cash withdrawal or cash deposit facilities are available – they also offer a range of savings deals.

7sefton

All this is true. I just wondered what the factors were which made NR choose to designate some branches as mortgage centres and others as more traditional?

Essex123

7sefton wrote: »

All this is true. I just wondered what the factors were which made NR choose to designate some branches as mortgage centres and others as more traditional?

Broadly speaking, the traditional branches are the "old" branches in their heartlands (i.e. the north). The mortgage centres are often branches opened around 2007 designed to flog mortgages in areas where NR didn't have a branch presence. They opened one here in Essex.

Of course, NR's policy was basically sell as many mortgages as you can and fund them through the wholesale markets rather than retail deposits. It's a big part of how they came unstuck. The cashless branches are a hang over from - and a monument to - what brought Northern Rock to its knees.