Banks now offer coffee bars and ‘work hubs’ but will it help them stay open? TOBY WALNE visits three to find out

Banks are providing espresso bars and free work areas in a bid to draw clients to branches. And you do not even must be a buyer to make use of them. 

Greater than 6,000 financial institution and constructing society branches have closed since January 2015, reviews client group Which? Rising numbers of these remaining are reinventing areas to remain related and safe survival. 

So might contemporary espresso save struggling excessive avenue shops or simply delay the inevitable? Toby Walne visits three to seek out out. 

Halifax, New Oxford Road, London

This £31.5million flagship department boasts 13,500sq ft of prime actual property over three flooring in central London.

Simply earlier than noon on a Thursday exterior the department the streets are jam-packed with consumers and vacationers. 

However step inside and it’s an oasis of calm – simply three workers on present and half a dozen clients trying misplaced within the warehouse-sized constructing.

To my left are six money machines – ‘take out’ and ‘put in’ – plus a few outdated blue-painted GPO telephone bins with clients invited to step inside to name Halifax. There are seven sofas and a handful of cosy chairs across the edges, however I really feel self-conscious in all this area. 

An enormous TV display screen advises me to ‘head upstairs to the café to recharge’.

On the second ground is a ‘Residence Hub’ the place half a dozen individuals are having fun with a team-building lunch. The world additionally consists of three assembly rooms plus a ‘video room’, an empty ‘children’ financial savings space’ and a ‘house shopping for’ area.

The Kitchen espresso bar is open. A flat white is £3.14 however barista Kaja convinces me to half with £4.50 – to incorporate a slice of caramel shortcake. 

The espresso store is a Change Please outlet the place income ‘equip homeless individuals with the instruments and coaching to turn into baristas’.

It is the one factor that is sensible on this financial institution.

There are two lengthy benches for eight individuals and two smaller tables to seat 4 every. I’ve a bench to myself and signal as much as the free wi-fi. 

I attempt to observe recommendation from one of many financial institution’s Orwellian posters to ‘Make Your self at Residence’ and faucet away on my laptop computer.

This flagship property was snapped up in Could 2018 for £31.5 million, in accordance with web site The Transfer Market. Small branches price round £590,000 a 12 months to run, in accordance with regulator the Monetary Conduct Authority. 

So, I dread to suppose how a lot this one prices. Halifax is closing 119 branches this 12 months and subsequent.

Santander Work Cafe, London

Near Regent’s Park is the Santander Work Cafe. Inside there are two workers within the lobby. I ask one: ‘The place is the financial institution?’ She replies: ‘We are able to get somebody that will help you for those who want – however we’re principally digital.’

The open area consists of sofas, gentle chairs and 7 desk areas plus two additional giant tables that every match eight individuals the place I sit. I rely 23 people who find themselves ‘working’ somewhat than doing any banking.

There are half-a-dozen personal rooms that embrace a few partitioned assembly areas. A jukebox display screen on the wall is fortunately disabled. There are a few money machines.

At 1pm, the primary attraction appears to be the Work Café, run by The Colombian Espresso Firm. If I pay utilizing a Santander debit or bank card I get a 30 per cent low cost. 

The flat white prices £4.20 however offers a greater caffeine kick than from the Halifax. Once more, workers use their gross sales patter to persuade me to half with £8 to benefit from the espresso, a £6 sandwich and snack. 

I go for the tofu and coconut coleslaw sandwich after barista Andrea tells me I’ll find it irresistible.

The library-like ambiance is conducive to work, the free wi-fi is quick and there are energy factors dotted round. 

Slogans daubed on the wall equivalent to ‘Nobody can arrive from being proficient alone’ point out this can be a workspace.

This ‘financial institution’ is a part of a £27million redevelopment of Santander headquarters in 2001 to which it’s connected and was opened only a 12 months in the past to affix Work Cafes in Leeds and Milton Keynes. 

Workers are readily available for those who need assistance. After my first and final ever tofu sandwich, I depart at 2pm.

Virgin Cash, Birmingham

The surface of this glass-fronted financial institution within the centre of town offers no warning that it’s something apart from a typical fashionable financial institution.

The doorways slide open and in entrance is a counter manned by department supervisor Kelly. But somewhat than given monetary assist I’m provided espresso. 

She explains I’m not standing at a financial institution counter however a ‘sure bar’ the place, after offering a drink, we will talk about my necessities. The place is empty after I go to aside from three workers.

There are a few ‘cash rooms’ to the aspect for privateness however Kelly says she often stays ‘on stage’ within the gentle seating space.

She says a key a part of the job is educating clients how you can financial institution on-line. After explaining I’m not right here for banking – or a Virgin buyer – I count on to be booted out. 

However Kelly says I can work within the department totally free, which incorporates utilizing its web and electrical energy. If there have been a bunch of 4 of us, we might e book a gathering room for a advised £25 or £50 donation.

The espresso from a machine is free however the high quality in comparison with different financial institution baristas is poor.

That is considered one of eight Virgin ‘espresso lounges’ – nevertheless it feels to me nonetheless extra of a financial institution than a spot to work.

I sit in a sales space marked ‘Develop bolder, not older’. Maybe these barista bars are lastly softening me up – as I even like this company slogan. Not like different branches, this outlet prices no extra to run than if it had been a conventional financial institution.

Not everyone seems to be satisfied.

Passerby Pat Parkin, 75, tells me: ‘If I desire a espresso I am going to a espresso bar. All these banks are taking part in the identical recreation – pushing us in the direction of on-line banking. Espresso bars are a soft-sell approach to strive to do that.’