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Post Offices: Bank Services

Department for Business, Energy and Industrial Strategy written question – answered on 31st October 2019.

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Photo of Emma Reynolds Emma Reynolds Labour, Wolverhampton North East

To ask the Secretary of State for Business, Energy and Industrial Strategy, if she will bring forward legislative proposals to oblige banks and building societies to sign an agreement with the Post Office to enable customers to withdraw money from their bank accounts at their local post office.

Photo of Kelly Tolhurst Kelly Tolhurst Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Holding answer received on 30 October 2019

The Government recognises the critical role that post offices play in communities and for small businesses across the UK. This is why the Government committed to safeguard the post office network and protect existing rural services. The overall number of post offices across the UK remains at its most stable in decades with over 11,600 branches thanks to significant Government investment of over £2 billion since 2010.

On 8th October 2019 the Post Office announced a new Banking Framework agreement with 28 UK banks to ensure that millions of their customers continue to have national, free access to everyday banking services. Signing up to this framework was a commercial decision for each bank to make, as banks and building societies have a commercial right to decide. ​ We are pleased that as of 25 October 2019 all 28 high street banks signed up in full. This will ensure that communities across the UK, in particular the elderly and vulnerable, have access to withdraw cash.

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