this post was submitted on 14 Apr 2024
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What's going on with England's banks? (lemmy.sdf.org)
submitted 5 months ago by [email protected] to c/[email protected]
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Clueless American here. I saw a commercial for Nationwide bank promising the keep their branches open until at least 2028. Is there a push to close banks? Is this more fallout from Brexit?

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[–] [email protected] 0 points 5 months ago

is this common

Yes, it’s actually really common due to takings being relatively small in cash these days.

Even when cash was much more prevalent, stores (even really big ones) would deposit in person. In 2005 my friend was required to walk to the bank at 8am the morning after the Xbox360 came out to deposit the entire takings of the midnight sale, in person. He worked for one of the biggest retailers in the UK at the time. IIRC he had over Β£35k in his backpack (even then many big purchases were being made using Chip and Pin).