Calls are mounting for the government to ensure Britain's biggest banks do more to support the Post Office network, after a leading postmaster argued that those delivering essential banking services are being left behind while lenders report multi-billion-pound profits.
His comments have struck a chord with fellow postmasters, many of whom say the current remuneration model is no longer sustainable as the network shoulders an increasing share of everyday banking services following widespread bank branch closures.
Steve Froggatt, a prominent postmaster and long-time campaigner for the sector, has urged ministers to consider imposing a windfall tax on banks, with part of the proceeds used to strengthen the Post Office network and improve remuneration for postmasters handling banking services.
The intervention comes as thousands of bank branches have disappeared from high streets across the UK, leaving Post Offices and Banking Hubs to provide many of the cash, deposit and face-to-face banking services previously offered by banks.
In a strongly worded LinkedIn post, Broadbent questioned whether banks were fairly rewarding the network that has increasingly become the public face of everyday banking.
"Banks are celebrating bumper profits. But let's ask an important question: who helped make those profits possible?" he wrote.
"Customers haven't stopped needing cash, deposits or face-to-face banking — they've simply been redirected to Post Offices and Banking Hubs."
Broadbent argued that while banks continue to report substantial profits, many postmasters receive payments that fail to reflect the growing workload created by widespread branch closures.
"Many Postmasters are being paid less than the National Minimum Wage for carrying out the banking transactions that keep those customers supported. That simply cannot be right," he said.
He believes a windfall tax on the banking sector could help address the imbalance by providing dedicated funding for the Post Office network, which continues to play an increasingly important role in maintaining access to cash and banking services in communities left without bank branches.
"If the banks are saving millions by closing branches and transferring customer demand elsewhere, then the people and businesses carrying that burden should share in their success," Broadbent said.
His comments also challenge banks' claims that strong profitability benefits the wider economy.
Referring to HSBC's recent assertion that profitable banks are essential for economic growth, Broadbent said he agreed with the principle but questioned how those profits would be maintained without the support provided by postmasters.
"Where would those profits be if Post Offices and Banking Hubs weren't there to pick up the pieces after the banks closed their branches?" he asked.
Broadbent stressed that postmasters were not seeking preferential treatment but fair compensation for the essential public service they now provide on behalf of the UK's largest lenders.
"Postmasters aren't asking for special treatment. We're asking for fair recognition and fair remuneration for the vital role we now play in delivering everyday banking services on behalf of the UK's biggest banks," he said.
Summing up his argument, Broadbent added: "You can't close the branches, bank the profits, rely on Postmasters to serve your customers... and expect us to survive on crumbs. If the banks are thriving because we're carrying the load, it's time they started sharing the reward."
His comments have struck a chord with fellow postmasters, many of whom say the current remuneration model is no longer sustainable.
A convenience store from Tenby said postmasters may not seek "special treatment", but they provide exceptional value to the communities they serve.
"'Postmasters don't ask for special treatment' but they do deliver special treatment to their communities," he commented.
"The economic benefit of a well-run, service-driven Post Office is immense. It will be our towns and high streets that pay the price if Post Offices struggle. Invest in the future of our communities."
Peter Robinson from Robinson Retail, another postmaster, said many banking transactions take considerably longer than the commission paid reflects, placing increasing pressure on operators already facing rising business costs.
"This highlights a crucial issue of Post Office remuneration. The network has to be viable and us Postmasters need enough commission to pay ourselves and our staff," he said.
"Too many transactions take far longer to deal with than we are actually paid for dealing with them. Fair remuneration is essential if the network is to survive and thrive," Robinson commented.