Celebrities’ favourite bank says no to cash

AN exclusive bank popular with stars has made a New Year’s resolution to turn its back on cash.

Adam & Co, part of the Royal Bank of Scotland, has told wellheeled clients that its Glasgow branch will not accept or hand out hard cash from January 5.

The private bank, which launched in 1984, is a favourite of footballers and celebrities.

You need assets of £250,000 before you are ‘invited’ to open an account.

The bank says the Glasgow branch is used as a cash dispenser on only 11 occasions a week.

One disgruntled customer said: ‘Don’t these banks ever learn? Why offer your services as a bank but then stop dealing with the one commodity that banks actually need to survive?

‘This is akin to a fishmonger deciding not to sell fish or a petrol station not offering fuel at the pumps. It’s financial and commercial madness in my view.’

A bank spokesman said more of its clients were choosing the flexibility and convenience of its ‘excellent digital and telephone banking services’.

Clients will continue to be able to access counter and ATM services at RBS and NatWest branches, including those within a short walking distance of the Glasgow office.

The changes do not affect Adam & Co’s other branches in Edinburgh, Aberdeen and London.