Banks & The Post Office - Perfect Partners.

Good to see Royal Bank of Scotland partnering more closely with the Post Office.

Of course, it was already possible for most bank customers to withdraw cash at a Post Office counter, using a LINK card.

Now,Royal Bank customers will also be able to deposit cash and cheques at their local Post Office.

This is a very significant service improvement for customers of the bank.There are over 11,000 Post Offices dotted around the UK, more than the combined number of ALL bank branches (which is around 9000).

So good news for bank customers -and good news for Post Offices,which need all the new business they can get in these days of austerity.The new customers who come in to do their banking may well use other services and make additional purchases.

Lets hope other banks follow the example set by Royal Bank of Scotland. It would help the banks as they seek to cut the costs of their branch networks and it would also cement the role which Post Offices fulfill,providing vital services to local communities throughout the length and breadth of the UK.

Many communities need their Post Offices to act as the hub of all things local and small businesses benefit through having a Post Office alongside them.The cash many people collect at Post Offices often remains locally,spent in other community enterprises.

A historical footnote.The maximum number of bank branches in the UK was around 17,000.Now, with Post Offices taking on the mantle of bank branches, the total number of premises delivering banking services increases to over 20,000.

VERY MUCH  A CHANGE FOR THE BETTER.

 

 

 

 

 

 

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Sunday, 23rd February 2014

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