Fit and Proper re-declarations begin

Fit and Proper re-declarations begin

Postmasters may recall completing an initial Fit and Proper declaration some months ago. We mentioned at the time that this is an annual process to ensure we comply with the requirements of the law and our regulator HMRC, so the branches that sell them can continue to sell regulated Travel Money products and MoneyGram.

The first annual re-declaration process will start from July. We’ll contact postmasters in a rolling process between July 2020 and June 2021, so it may be a while before some postmasters hear from us. You don’t need to do anything about this until we contact you.

The re-declaration process is much simpler than the original declaration. Postmasters won’t need to fill in the full form(s) again – we’ll just need to know whether the information is the same or any details that have changed since the initial declaration. You’ll have 28 days to complete the re-declaration and this can be done by email or over the phone wherever possible.

As branches need to be registered with HMRC to sell the relevant Travel Money products and/or MoneyGram, if we don’t receive your re-declaration by the deadline we give you, this would trigger the process to deregister the relevant branch or branches, and once that happens they would no longer be able to sell those products.

Postmasters of branches where regulated Travel Money services have recently been withdrawn on a permanent basis will only need to complete the re-declaration if they sell MoneyGram. Where those services were withdrawn temporarily, the postmaster will need to complete the re-declaration as we plan to reinstate the services when the market picks up.

Please look out for your re-declaration request and complete it by the deadline. We’ll have a team on hand to support you through the process and answer any questions you may have. All the information you need will be provided when we contact you.

Thank you for your support.