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NFSP responds to the review of the ‘Access to Banking Protocol’

10 November 2016

The ‘Access to Banking Protocol’ was published today by Professor Russel Griggs OBE. The review sets out how banks can better engage with those affected by local bank branch closures. The review highlights the vital role that post offices can play in providing access to community banking services.

George Thomson, Chief Executive of the NFSP said: “Bank branch closures are devastating for local communities. The need for face-to-face banking is still a priority for many people, especially for small businesses, those living in rural communities and the more vulnerable members of society.

“We welcome the recommendations set out in the review, especially those that relate to post offices. We see post offices playing an essential role in the future of community banking.

“However, the report highlights a worrying lack of awareness about post office banking facilities, and this needs to change. Alongside the banks, there is more Post Office Ltd needs to do to ensure that people are aware of the services that branches can provide. We will also work with our members locally to promote their services.

“Finally, if post offices are expected to step into the void left by bank branches, we want to see them paid reasonable commission rates, particularly for business banking which can be extremely time consuming.”

Notes

  • The NFSP is the independent voice of subpostmasters across the UK. Our aim is to help subpostmasters maximise income from their post office and retail businesses.
  • Subpostmasters are independent self-employed franchisees, contracted by Post Office Limited to run a post office either as a stand-alone branch or, increasingly as part of a wider retail outlet

ISSUED BY NFSP press office on 10 November 2016

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