Oct 8, 2019

Barclays blow to Post Office banking

Barclays is facing criticism for opting out of part of the agreement banks have with Post Offices to allow customers to withdraw cash and deposit money. Barclays will let its customers deposit money, but not withdraw cash from a Post Office counter using a debit card. The Post Office has unveiled a new agreement with 28 banks and building societies, covering the three years from January and allowing for postmasters and post mistresses to be paid more to take in and dispense cash. Natalie Ceeney, who wrote an Access to Cash Review this year, says Barclays customers make 1.2 million cash withdrawals from Post Offices every month. The Payment Systems Regulator says the decision "Reduces the number of places their customers can go to get cash", adding that it will be monitoring Barclays.

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