Question

To ask the Secretary of State for Business, Innovation and Skills, what steps Post Office Ltd is taking to encourage banks to expand availability of their services through the Post Office network.

Post Office Limited already provides access to 95% of current accounts across the counter at more than 11,500 Post Offices. This is in addition to the Post Office’s own wide range of personal financial services, which includes three types of current account. It also operates a network 2,500 ATMs which are free to use and part of the LINK network, enabling withdrawals from a full range of current and other accounts; many of these in rural and deprived areas.

Since 2010, Post Office Ltd has reached agreement with RBS (including NatWest) and HSBC to allow customers to access their current accounts at post office branches. Post Office Ltd continue to engage with the one remaining high street bank (Santander) who have yet to offer their customers this service.

The Secretary of State will be writing to the banks to ask them how they plan to ensure that the banking needs of vulnerable consumers are met, particularly in areas facing branch closures. He will also be encouraging them to give priority consideration to creating or building on existing partnership arrangements with Post Office Limited, including considering how to address any additional financial and operational burdens on the Post Office.