The Association of Convenience Stores (ACS) has welcomed the Government’s response today to the Post Office Banking consultation.
The response outlines the range of new banking products which the Post Office will be able to offer in branch. This includes a new Post office current account, greater access to other bank accounts; a new child’s saving scheme and more banking services to small businesses.
ACS chief executive James Lowman said: “Post Office Banking services will offer a crucial support for Post Office businesses.
“There is clearly public appetite for such services and the Government have set out a range of products which will appeal to a wide range of customers.
“We also appreciate that Government recognised the need for these products to be sustainable for the sub postmasters who will be tasked with delivering these products in-branch.
“We look forward to more detail on these products and working with Government and Post Office to see how they will be delivered.”
Source: ACS
It is good news that post offices have another 10 year agreement however, Royal Mail would foolish to ignore the Post Offices’ wide Network.
The new contract must negotiate better terms ie better commissions for the post masters as Royal Mail will definately look at selling through other channels, such as payzone or paypoint !!
Don’t let them get away with it !!