HSBC has launched a new facility for its nine million customers by increasing its access at 11,500 new places, as it has entered into an agreement with Post Office to allow its customers to bank in Post Office branches.
The Post Office announced that “The following services will be available: cash withdrawals, cash deposits, cheque deposits and balance enquiries”. Telephone and internet-based retail Bank First Direct customers will also benefit from the change which will be effective from Spring 2013.
HSBC was one of the last of the major banks not to allow its customers to withdraw and deposit at Post Office branches. Around 95% of all the UK debit cardholders now have access to their money at post office counters.
Brian Robertson, chief executive officer of HSBC Bank plc said, “We recognise that our customers like to bank in a variety of different ways. This new partnership allows us to provide them with an additional opportunity to access their HSBC bank accounts at Post Office counters.”
Robertson added that “the initiative extends the ways that customers can manage their money with HSBC in the manner of their choice, via our 1,200 branches and 3,600 ATMs, phone and text banking, personal internet banking or our Fast Balance mobile application.”
Banking at post offices is particularly important in rural areas where many customers have already seen their bank branch closed down.
Since the past few years, even the Post Office has been seeking to increase its range of banking services, after the previous government pushed it aside as an alternative to the high street players in the times of financial crisis. A major milestone in this strategy was reached last month with the launch of in-branch specialist mortgage advisers.