News

NFSP welcomes Post Office banking announcement

24 January 2017

Today, Post Office announced a partnership with UK banks to secure access to local banking services. Commenting on the announcement, George Thomson, Chief Executive of the NFSP said “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.

“With 11,600 branches across the UK, the Post Office is in a perfect position to step in when a local bank closes. We are pleased to see Post Office’s announcement today of an industry-wide agreement with UK banks. This, alongside the enhancements that the Post Office is making to banking services – including automation, paperless transactions and standardisation across banks, will make the Post Office the first choice for many customers.

“Our members who own and run post office branches up and down the country, welcome the extra footfall this will bring in branch. However, as post offices take on more banking services, we want to see them paid reasonable rates, particularly for business banking which can be extremely time consuming.”