Skip to content
Search
AI Powered
Latest Stories

Post Office to expand BankHub network in access to cash initiative

Post Office to expand BankHub network
Cambuslang BankHUB operated by Post Office

The Post Office has announced plans to expand its BankHub network, as part of a landmark industry commitment to protect cash and banking services across the UK.

In addition to the extended support to the first two BankHubs in Cambuslang and Rochford, additional Hubs will open during 2022, with more to follow into 2023.


The decision is part of a new, community-focussed approach to protect cash access, facilitated by the Cash Action Group (CAG).

The firm has also announced that it is ready to deploy new dedicated cash services into 30 existing post offices next year to increase capacity within the network and improve customer experience in high volume cash areas.

“The Post Office already plays a critical role in local communities, so we are very pleased to have partnered the banks in developing innovative solutions to meet community cash needs,” Nick Read, Post Office chief executive, said:

“It is very positive that the Post Office and banks continue to work together effectively to deal with such a fundamental issue. We look forward to working with the industry to develop our offer further – providing vital cash access services for millions of people.”

The Post Office has launched the first ever BankHubs in April this year as part of the Communities Access to Cash Pilots (CACP) initiative, which supported communities across the UK to trial and test different ways to allow people access to cash.

bankhub 2

The existing BankHubs in Rochford and Cambuslang provide local customers with basic banking and cash services, as well as dedicated rooms where they can see community bankers from their own bank.

Post Office said BankHubs offered the widest range of services, and received by far the most positive feedback from both consumers and businesses of all the solutions trialled as part of CACP, with communities using the facilities provided over 10 times as frequently as other solutions.

Following the overwhelmingly positive response, Post Office has last month announced that they would continue to run until spring 2023, at least.

The new agreement crafted by Cash Action Group (CAG) - an industry taskforce of major banks, Post Office, LINK and consumer groups - also includes a commitment to create an independent body to assess the needs of local communities and direct cash solutions.

In accordance with the deal, any community which faces the closure of it last bank will have its needs independently assessed to find the most appropriate solution to meet the cash needs of that community as a whole.

The agreement also sees banks agreeing to share physical infrastructure services in a trusted high street location alongside the opening of new ATMs and the national roll-out of cashback without purchase.

The group was convened earlier this year and further interventions are planned from 2022 and beyond.

More for you

Fed praises InPost Newstrade for changes
Fed praises InPost Newstrade for changes
Fed praises InPost Newstrade for changes

Fed praises InPost Newstrade for changes

InPost Newstrade, formerly Menzies Distribution, is making some changes to its carriage charge model following discussions with the Federation of Independent Retailers (the Fed).

In a letter to its UK customers which was being sent today (10), the news wholesaler has announced that it is to decrease the base charge to support retailers with lower sales.

Keep ReadingShow less
marks and spencer CEO warns Rising taxes on retail

Marks & Spencer slams government on rising taxes.

iStock image

M&S chief slams government for raiding retail 'like piggybank'

The retail industry is being “raided like a piggy bank”, chief executive of Marks & Spencer has stated, calling on the UK government to delay or ease planned tax and recycling charges.

Writing in the Sunday Times, Stuart Machin said that without pausing or staggering the changes to national insurance and business rates, which come into effect this April, UK retail would get smaller.

Keep ReadingShow less
Pernod Ricard considers sale of Mumm champagne

Bottle of Champagne G.M. Mumm Brut Cordon Rouge

Photo: iStock

Pernod Ricard considers sale of Mumm champagne

Pernod Ricard is exploring a sale of its champagne brand G.H. Mumm, Reuters reported citing five sources familiar with the matter, as the company looks to focus on premium labels in its portfolio.

The French spirits giant behind Absolut Vodka and Jameson Irish whiskey is working with investment bank Rothschild & Co on the possible divestiture, that could attract interest from other spirits and beverage companies, the sources said.

Keep ReadingShow less
Funding delay threatens UK meat safety

Funding delay threatens UK meat safety

iStock image

UK faces risk of 'potentially dangerous' meat, warn Tories

"Potentially dangerous" meat could appear on UK store shelves if the government does not adequately fund food security checks at Dover port, the Conservatives have warned.

Criticising the government in a heated back-and-forth in the Commons, shadow environment secretary Victoria Atkins accused that the government of spending “more than the entire Defra budget to surrender the Chagos Islands”.

Keep ReadingShow less
​Huge quantities of illegal cigarettes and vapes seized in Oxfordshire

Huge quantities of illegal cigarettes in Oxfordshire

Image from Oxfordshire County Council

Huge quantities of illegal cigarettes, vapes seized across UK

Almost 10,000 counterfeit and smuggled cigarettes and other tobacco and nicotine-based products have been seized following a series of visits to retail premises by Oxfordshire County Council’s trading standards team.

As reported by the council, the raids, carried out on Jan 21, were part of Operation CeCe, a national initiative to tackle the sale and supply of illegal tobacco products.

Officers were accompanied by specialist tobacco detection dogs, which can sniff out contraband in concealments within till points or hidden in storerooms.

Keep ReadingShow less