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Barclays and HSBC among banks ‘bracing for Post Office face-off’ over cash access deal

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Published Time: 16.05.2024 - 18:41:27 Modified Time: 16.05.2024 - 18:41:27

DIGI Payment Choice Alliance chair Ron Delnevo on bank branch closures in the UK By Patrick O'Donnell Published 16/05/2024Dozens of banks, including HSBC and Barclays, have a deal with the Post Office which allow customers to access cash services at its branches Queen may 'put her foot down' as King ramps up plans for royal tour Just Stop Oil activist slapped down as protester cleared of criminal damage 'It's LUDICROUS!' Harry could have received 'rare visa' that triggered 'lower security check' 'The Sussexes trip to Nigeria looks like a glossy masterstroke but there is an elephant in the room' Andrew loses cherished role to Camilla in ruthless move from King 'I'm a longevity researcher and I swear by this diet to live longer' Sir Rod Stewart fumes 'shut the f*** up' in blistering rant to radio star 'I'm a doctor and eating more of number one fruit will help you torch belly fat' Meghan scolded over ‘laughable’ Lilibet claim ‘Said it with a straight face!’ Trending on GB News Britain's weight loss success stories 'I dropped from a size L to S at 57 with the help of three carbohydrates' Barclays and HSBC are among the major banks reportedly bracing for a showdown with Post Office over its cash access fees


DIGI Payment Choice Alliance chair Ron Delnevo on bank branch closures in the UK

By Patrick O'Donnell

Published: 16/05/2024

Dozens of banks, including HSBC and Barclays, have a deal with the Post Office which allow customers to access cash services at its branches

Queen may 'put her foot down' as King ramps up plans for royal tour

Just Stop Oil activist slapped down as protester cleared of criminal damage: 'It's LUDICROUS!'

Harry could have received 'rare visa' that triggered 'lower security check'

'The Sussexes trip to Nigeria looks like a glossy masterstroke but there is an elephant in the room'

Andrew loses cherished role to Camilla in ruthless move from King

'I'm a longevity researcher and I swear by this diet to live longer'

Sir Rod Stewart fumes 'shut the f*** up' in blistering rant to radio star

'I'm a doctor and eating more of number one fruit will help you torch belly fat'

Meghan scolded over ‘laughable’ Lilibet claim: ‘Said it with a straight face!’

Trending on GB News

Britain's weight loss success stories: 'I dropped from a size L to S at 57 with the help of three carbohydrates'

Barclays and HSBC are among the major banks reportedly bracing for a showdown with Post Office over its cash access fees.

Major lenders are said to be going into negotiations over a new deal to allow millions of their customers to withdraw cash at the postal company’s branches, Sky News reports.


A shared interest group, which includes Barclays and HSBC, is being formed to represent the banking industry in talks with the Government-owned firm over the coming months.

The negotiations will be to discuss a new Banking Framework Agreement with the latest version set to expire at the end of 2024.

Some 30 banks and building societies participate in the current deal, paying around £200million annually collectively to allow customers banking services at the 11,500 Post Office sites.

This comes amid widespread concern about access to cash amid the wave of bank branch closures. Which? estimates around three million could be left “cashless” by the end of the year.

Do you have a money story you’d like to share? Get in touch by ing money@gbnews.uk.



The consumer watchdog has warned of the “alarming rate” of bank locations shutting down with many customers being forced to use their local Post Office instead for in-person banking services.

Sources in the banking industry are preparing for the Post Office to demand a hike to the fee it charges them for using its sites which could reportedly come to around £400million a year.

If this deal is brought forward, the sector is expecting to push back on it, citing customer data which they claim shows usage of the service has stagnated.

Last year, more than £10billion worth of cash was withdrawn over the counter and £29billion in cash was deposited over the counter, according to Post Office figures.

Martin Quinn, the campaign director of the Payment Choice Alliance, outlined why it is in the “interest” of the bank to come to an arrangement with the Government-owned company.

Quinn said: “The banks may want to play hard ball with the Post Office over the fee.

“But the fact remains that thousands of small businesses rely on banking facilities offered by the banks through the Post Office network.

“It should be in all the banks interests to keep relying on the vast network to offer choice to their customers, as many need to deposit and withdraw cash."

A Post Office spokesperson told Sky News: "Our partnership with 30 banks and building societies ensures that no one who relies on cash is left behind, made possible by our postmasters in almost every community of the country.

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"This is all the more important following the introduction of the Access to Cash legislation and further highlights the critical role postmasters play today, and in the future, in supporting customers with accessing their cash.

"We do not comment on ongoing commercial negotiations.”

GB News has contacted Post Office, Barclays and HSBC for comment.

UK Finance, the country’s banking industry lobbying organisation, declined to comment.

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