NatWest Fails to Imitate Bitcoin with Limited 24-7 Accessibility

Banks are struggling to provide around the clock customer support and services right now. NatWest wants to change that by opening a new branch with 24-7 automated banking facilities. However, Bitcoin has been offering its services around the clock for seven years now.

Also read: OTC Trading For Regular People: Search For the ‘Uber of Bitcoin’

Having access to financial services can be done through mobile or PC banking these days. But when it comes to obtaining money, the story becomes quite different. Most financial institutions offer 24-7 ATM cash withdrawal services, but that is as far as the options go.

NatWest Brings 24-7 Financial Services to Train Station

Newer bank ATMs allow users to complete wire transfers using. However, that functionality is only available to ATMs within the bank offices themselves. When trying to access these services outside of business hours, users will need to rely on mobile or PC banking.

The new NatWest branch office located in the Manchester Piccadilly train station looks to change that.

In fact, this will be their first 24-7 customer service point providing automated banking facilities. Considering how this station serves over 20 million passengers every year, this is a significant move by NatWest.

However, that doesn’t mean travelers will only have access to automated services. Bank staff will be present during weekdays and weekends as well. Moreover, customers looking for information on their mortgage can stop by during the work hours every day.

Some people may be wondering what type of services they can expect from this new NatWest branch. The press release mentions how there will be upgraded check and cash deposit machines. Additionally, customers can also enjoy free Wi-Fi to register for and access online and mobile banking services. Plus, there are different appointment rooms as well.

Banks around the world are trying to upgrade their services and copy with customer demand. Digitization is a fundamental aspect of this update process. But at the same time, consumers crave that human connection and interaction. NatWest feels there is enough demand to offer these services seven days of the week.

Bitcoin Removes the Middleman From Financial Services

While institutions such as NatWest are trying to bring new services to the customers, they remain a third-party access provider. Even when customers can access bank services 24-7, they still rely on NatWest to gain access to their own money.

This is why Bitcoin is so different, as it provides users with full financial access every moment of every day.

Sending and receiving money, as well as checking account balances, should not hinge on access to financial institutions. Individuals and enterprises can take full financial control by getting involved in Bitcoin. Moreover, they would not be limited to a central place where one particular bank provides limited services around the clock.

With Bitcoin, everyone has access to their funds at any given time, on any device, regardless of their location or relationship with an existing bank.

What are your thoughts on this new branch opening by NatWest? Let us know in the comments below!

Source: Finextra

Images courtesy of Urban News Digest, NatWest, Shutterstock.

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