Newcastle Building Society has announced a pilot collaboration with OneBanx to provide a multi-bank kiosk in two of its branches in a bid to “keep cash alive”.

The building society will install kiosks from OneBanx in branches in the North East and North Yorkshire and states the move will offer an “innovative blueprint” for cashless communities.

The kiosks use Open Banking technology and allow small businesses and personal customers of any bank in the Open Banking network to withdraw and deposit cash from their accounts.

Upon registering for OneBanx’s service, users will be able to deposit notes and coins, and withdraw cash from their bank account.

“Cash is a vital part of daily life for millions of people and businesses and every bank branch closure leaves a damaging legacy in our communities,” said Andrew Haigh, chief executive officer at Newcastle Building Society.

He continued: “The kiosk provides people with convenient access to their bank and by providing access to technology like this in our innovative branch model, we’re showing exactly what can be achieved when we put the interests of our members and customers above everything else.”

The news follows the UK's six largest lenders – Barclays, HSBC, Lloyds, Nationwide, and NatWest – having met the CMA's regulatory standards for the roll out of Open Banking following the banks' meeting requirements in an Open Banking roadmap issue by the Open Banking Implementation Entity.

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