Post Office agrees to continue handling cash for bank customers

The latest agreement will extend the Post Office banking arrangements until the end of 2025.

It means post offices will continue to handle bank account cash deposits and withdrawals, providing a service to rural communities where many bank branches are closing.

In 2021, post offices handled almost 140 million cash transactions for other banks and building societies.

Nick Read, chief executive at the Post Office, said: “This agreement provides a continued lifeline to the millions of people and small businesses that rely on cash nationwide.

“It highlights the unique and vital role the country’s post offices play in local communities and economies.

“While banks are cutting their branch networks, post offices are seeing more and more deposits and withdrawals, with postmasters keeping their branches open long hours and helping to draw people to our high streets.”