Post Office in fight to save cash as eight million people say they would struggle to cope without coins and notes
Customers with all major banks can currently withdraw cash at one 11,500 Post Offices across the country
The Post Office has launched a campaign to ‘save our cash’. Around eight million people say they’d struggle without cash, while 1.4 million don’t have a bank account.
More than half of small businesses that accept coins and notes deposit takings at least once a week.
But with Which? figures showing that 4,188 bank branches have closed since 2015, access to cash is declining at a worrying pace.
Customers of all major banks can withdraw cash at the Post Office’s 11,500 branches.
But Post Office bosses say the ‘short-term’ nature of this three-year agreement means it is ‘inherently fragile’.
They say High Street banks and building societies instead should be legally obliged to provide access to cash, and that there should be a single regulator overseeing the issue.