Savings accounts provider Lloyds TSB supports increased use of fivers

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Savings accounts provider Lloyds TSB supports increased use of fivers

Lloyds TSB has thrown its support behind a Bank of England decision regarding £5 notes, saying it will make the situation more convenient for consumers.

Head of ATM strategy and change Gill Sephton made her comments regarding the Bank's policy of increasing the quantity of such notes used.

She explained that 100 of Lloyds TSB's cash machines already dispense £5 notes and the firm wants to build on this in order to create a network offering greater convenience to customers.

"We are extremely committed to our cash point network and welcome the Bank of England's initiative to increase the number of £5 notes in circulation," said Ms Sephton.

A survey carried out by the company indicated over 60 per cent of Brits want fivers to be available at cash machines, with younger people showing particular support for the move.

The Bank of England issued the first £5 note in 1793, during a war with France.

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