Four of the UK's biggest high street banks are participating in a British Bankers' Association pilot scheme under which personal and small business customers may access a range of banking services from competitor branches.
Under the pilot programme, customers will be able to pay in, make withdrawals and exchange notes and coins at participating branches, irrespective of which bank they belong to.
The scheme will run for 12 months where there is only a single bank branch and no others within approximately five miles. Participating branches include Barclays Brandon; Barclays Coniston; Barclays Sedgefield; HSBC Cerrigydrudion; HSBC Epworth; Lloyds TSB Cricklade; Lloyds TSB Donington; Lloyds TSB Lynton; NatWest Lenham and NatWest Rossett.
The initiative will gauge customer demand, measure customer behaviour, look at ways of recycling cash in local communities and test the mechanics of banks co-operating to provide these types of services, says Ian Mullen, chief executive of the BBA.
He comments: "This is the largest pilot scheme of its type ever undertaken and complements a series of initiatives being explored by the banking industry to broaden financial inclusion. Already there is an increased availability of banking services through agency agreements with the Post Office, and the banking industry has agreed to fund the proposed universal banking service."
Results of the pilot will be independently evaluated by Elaine Kempson of Bristol University Personal Finance Research Centre.