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Village at forefront of new banking service

AS COUNTRIES across Europe changed over to the euro this week residents in a Kent village were making their own mark on monetary history. A pilot scheme was launched in Lenham, near Maidstone, that could help change the way people use banking services throughout the country.

For the next 12 months people living in the village will be able to use their local branch of Nat West for all their banking services, no matter which bank they belong to.

The pilot scheme is being tried out at 10 banks throughout the country by the British Bankers' Association and could help change the way people use banking services in the future. The 10 test sites were chosen in areas were there was only a single bank branch and no others within five miles.

It is hoped the scheme will gauge customer demand, measure customer behaviour and test the mechanics of banks co-operating to provide shared services. Ian Mullen, chief executive of the BBA, said: "The pilot is a genuine attempt to test customer behaviour when offered wider access to services and is the largest pilot scheme of its type ever undertake.

"It will offer services to customers who may otherwise have to travel some distance to use bank services."

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