Post Offices to continue offering banking services
Post Offices to continue offering banking services
Business customers of 30 UK banks, building societies and credit unions can continue to use Post Offices for basic banking until at least 2026.
A new deal agreed between the Post Office and the banks, called the ‘Banking Framework 3’, covers three years from January 2023. It means small businesses can withdraw and deposit notes and coins from their accounts at 11,500 post office counters.
Nick Read, chief executive of the Post Office, said: “This agreement provides a continued lifeline to the millions of people and small businesses that rely on cash nationwide. While banks are cutting their branch networks, Post Offices are seeing more and more deposits and withdrawals.”
The 30 signatories to the new agreement are: Barclays, HSBC, Santander, NatWest, RBS, TSB, Halifax, Adam & Co, Allied Irish Bank, AIB, Bank of Ireland, Bank of Scotland, Cahoot, Cashplus Bank, Coutts, Co-op, Danske, First Direct, Handelsbanken, Metro, Nationwide, Smile, Starling Bank, Thinkmoney, Ulster, Virgin Money, Yorkshire Bank, Clydesdale Bank, CAF Bank and credit union Incuto. Monzo is not part of the deal.
The Post Office said £3bn a month is deposited and withdrawn over its counters.
