People who rely on the Post Office for banking and cash will be able to continue to do so

eskbanker

spingoblin said:

I'm surprised at this, up to now I was under the impression 'Post Office banking' was introduced as a cheapish, permanent feature of most banks basic and some current accounts - precisely because of the loss of thousands of bank branches and no doubt thousands more losses to come. I will be surprised if it ends in 2026.

There's no doubt that bank branch closures are less unpalatable if some services continue to be available via post offices but such services have to be underpinned by a contractual agreement, which will never be permanent (and it's probably not cheap either!).

This is simply an announcement that a new three-year contract term has been agreed between Post Office Ltd and the banks, to succeed the 2020-22 one, so isn't anticipating that these services won't be available after 2025 as such, just that the contract will need to be renewed to cover that.

Thrugelmir

There's a move towards banking hubs where the major banks will share buildings etc. The Post Office could be pivotal in providing such services in more rural locations. . 

jon81uk

Cash usage is going to drop further I expect so who knows what will be needed in a few years.

Fingerbobs

spingoblin said:

I'm surprised at this, up to now I was under the impression 'Post Office banking' was introduced as a cheapish, permanent feature of most banks basic and some current accounts - precisely because of the loss of thousands of bank branches and no doubt thousands more losses to come. I will be surprised if it ends in 2026.

Same here. I thought this was a new thing that had only just got off the ground and would be permanent. It never crossed my mind that it might be a temporary arrangement.