Post Office Current Accounts to Close?

BarnsleyHistorian2019

I have had a Post Office Current Account ever since the last bank in our village closed. I use it to pay in cheques over the counter and have one standing order paid into the account each month (from my elderly mother). I also have a joint Santander 123 Account with my husband which I operate using Online Banking.
This morning I went to the Post Office website and saw that the Post Office Current Accounts will be closing in September 2019.
"Following a review by our Current Account provider Bank of Ireland UK, a decision has been made to no longer offer Post Office Money Current Accounts. This means we need you to make arrangements to switch or close your Post Office Money Current Account by 11th September 2019."

This means that I will only have the option to pay in cheques to Santander via an envelope in the Post Office in future and as they managed to lose a £400 cheque last year I am not happy.

eskbanker

I never thought I'd use these words, but perhaps it's worth considering opening a Post Office savings account?

These allow payments by cheque and the funds can then be transferred onwards to a nominated bank account, such as your Santander one....

whiteswan

I have a letter this morning.

Yes they are closing ALL Post Office Money Current Accounts.

Seems a bit strange..

Dave

PRAISETHESUN

Direct from their website: https://www.postoffice.co.uk/dam/jcr:8c330e57-f1eb-4128-99ab-68bd2af30d7d/538644%20Current%20Account%20Closure_FAQ_v5.pdf

Looks like it will be affecting all current accounts, as whiteswan has pointed out

colsten

BarnsleyHistorian2019 wrote: »

This means that I will only have the option to pay in cheques to Santander via an envelope in the Post Office in future and as they managed to lose a £400 cheque last year I am not happy.

I believe Santander will soon be implementing cheque imaging. Some other banks already do it - Barclays are one of them, as are Lloyds, and they'll all offer this, eventually. Do you have a smartphone, or a tablet, which would allow you to use cheque imaging?

Chino

colsten wrote: »

Do you have a smartphone, or a tablet, which would allow you to use cheque imaging?

Thar's not how Santander describes Cheque Imaging in its YouTube video - it's described as an internal process to Santander:
https://www.santander.co.uk/info/videohub/products-services-and-helpful-information/here-to-help-cheque-imaging-explained/Q81elf796Z8
https://www.santander.co.uk/personal/support/current-accounts/changes-to-your-current-account

colsten

Chino wrote: »

Thar's not how Santander describes Cheque Imaging in its YouTube video[/URL]

Fair enough, may be they are behind the curve in implementing cheque imaging in the UK (they do offer it in other countries). In which case, the OP still has a choice of at least two other banks who currently do offer cheque imaging in their mobile apps. From my own experience, it's also working great, at least with the Barclays app, and you don't even have to leave your house to pay in a cheque

eskbanker

BarnsleyHistorian2019 wrote: »

This means that I will only have the option to pay in cheques to Santander via an envelope in the Post Office in future and as they managed to lose a £400 cheque last year I am not happy.

What happened about that £400 cheque, you were presumably credited eventually?

While it's understandable for you to be sceptical about the process if you've had a bad experience, the increasing reliance on post offices by banks who are happy to close branches means that there must be a reasonable degree of confidence in PO's capability to get bank paperwork processed with an adequate level of success, even if it's not perfect (but neither are bank branches!)....