NatWest Group has now delivered over £10 million in cash to the doorsteps of vulnerable customers since March 2020. This comes as the ‘Cash Action Group’ (CAG) has today published landmark proposals that underscore the bank’s ongoing commitment at an industry-level to preserving access to cash.
NatWest Group has always taken maintaining access to cash seriously. The bank was the first in the UK to offer vulnerable customers and those in extended isolation a fee-free cash delivery service to their door, which now totals £10m since the service began in March 2020. As well as having a substantial branch network and the largest bank operated ATM estate in the UK, NatWest’s partnership with the Post Office makes it possible for customers to deposit and withdraw cash at over 11,500 locations across the UK.
Earlier this year NatWest worked with the industry to form the Cash Action Group to ensure a commitment in preserving access to cash across the UK. Today, the Cash Action Group has published landmark proposals that underscore the bank’s ongoing commitment at an industry-level to preserving access to cash – supporting the review process which will be independently-led by LINK to identify areas of particular need and, informed by the results of the pilots, the solutions which are most appropriate for them.
NatWest plays a unique role in supporting the infrastructure of cash processing in the UK, and is pleased to confirm its support of the announcement made today by the Bank of England which will underpin the UK’s cash infrastructure, putting cash processing on a sustainable footing for the future. NatWest will be undertaking steps alongside the Bank of England, HMT and other industry processors to improve resilience, efficiency and environmental sustainability in the way that cash is handled and disbursed across the UK.
Richard Talbot, Head of Cash & Self Service Operations at NatWest Group said: “NatWest aims to be the most accessible bank anytime, anywhere – as well as providing industry leadership in helping shape the cash industry models of the future. We know there has been a large rise in digital, however cash is an important part of the way that many communities across the UK bank with us. Access to cash remains a key priority for the bank, ensuring that it remains widely accessible not just for a small portion of our customers – but for everyone. We’ve reached a significant milestone in delivering over £10 million in cash to the doorsteps of our vulnerable or isolated customers, and we will continue to invest in sustaining access to cash and financial capability.”
The bank has continued innovating to support customers since the challenges of the COVID pandemic, including the introduction of a ‘companion card’. The card allows vulnerable customers to provide a family member, friend or carer to pay for shopping on a regular basis through an additional restricted debit card.