Oct 24, 2019

Barclays U-turn on Post Office cash withdrawals

Barclays has reversed its decision to pull out of a partnership that allowed customers to withdraw cash at branches of the Post Office, after the plan prompted fierce criticism from MPs and campaigners. Jes Staley, Barclays chief executive, said: "We have been persuaded to rethink our proposals by the argument that our full participation in the Post Office Banking Framework is crucial at this point to the viability of the Post Office network." Mr Glen said: "It is vitally important that we have a model for the Post Office Banking Framework which is sustainable, now and in the future. We welcome Barclays' commitment to engage constructively on this so we can safeguard access to cash for everyone who needs it." Barclays said earlier this month that it would launch its own initiatives to help ensure its customers still had access to cash, but campaigners warned the Post Office move would still hit many customers. Barclays customers make around 1.2m cash withdrawals from post offices every month, according to Natalie Ceeney, the former financial ombudsman who led a recent review into access to cash.

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