With bank closures continuing, and some ATM providers increasingly charging for cash withdrawals, LINK, the country’s main cash machine network, has announced that they will directly provide an ATM for fee-free access to cash in any community where there is no Post Office to service that need.
Martin Kearsley, Banking Services Director has worked closely with LINK to ensure our network of more than 11,500 branches is at the heart of this statement. LINK have re-confirmed our position at the centre of their strategy, and that they view a Post Office counter to be ‘the same’ as an ATM, and they may therefore only need to provide a very small number of ATMs.
Post Office continues to be the UK’s largest free cash withdrawal network – larger than all the bank branches combined. Customers are increasingly turning to their local Post Office as through our services, we don’t charge fees for withdrawing cash from either our counters or our own ATMs.
Martin said: “Last year Post Office branches handled over 130 million transactions on behalf of UK banks. With over 11,500 branches the Post Office is ideally positioned to provide vital access to cash withdrawal services.
“Our branches remain at the heart of communities across the UK, including those where bank branches no longer exist.
“Millions of customers of UK banks rely on these vital services – more than a quarter of people (28 per cent) have withdrawn cash at their local Post Office in the last year, and our latest figures indicate some 70 per cent of the population are now aware of the services we offer.
“For people living in more rural or urban deprived areas Post Office branches are a real lifeline, ensuring the financial inclusion of more vulnerable customers by providing vital services such as cash withdrawals, bill payments and postal services all under one roof.
“We welcome the LINK announcement, helping underline their view that if there is a Post Office counter in a community, our service provides exactly the Access to Cash service that an ATM might otherwise provide.”