From Yahoo Finance: 2025-05-01 10:36:00

The UK Post Office has secured a new five-year deal with banks and building societies to maintain cash services nationwide. The agreement, effective from January 2026, allows customers from 30 financial institutions to withdraw, deposit cash, check balances, and deposit cheques at local Post Offices. The initiative addresses the closing of bank branches and increasing digital shift among customers.

Since 2020, over 760 million transactions have been conducted at Post Office branches by personal and business customers. Data shows a year-on-year rise in cash deposits from 2020 to 2024, supporting the need for in-person cash services. Post Office’s research revealed that 89% of respondents value access to cash, with 53% using cash for weekly transactions.

Post Office CEO Neil Brocklehurst emphasized the importance of the new agreement in maintaining vital cash access hubs. The deal aims to boost postmasters’ incomes while strengthening their role in the business. It ensures certainty for businesses and individuals regarding everyday banking needs. The agreement aligns with the Post Office’s transformation plans to enhance services and support postmasters.



Read more at Yahoo Finance: Post Office and UK banks agree to extend cash access services