The UK Post Office has finalised a new five-year agreement with banks and building societies to maintain cash services across the country.
The deal ensures that millions of individuals and small businesses will continue to have access to essential banking services.
It will take effect from January 2026 and run through to December 2030.
The arrangement, called ‘The Banking Framework’, was introduced in 2017.
The new deal allows customers from 30 different financial institutions to withdraw and deposit cash, check balances, and deposit cheques at their local Post Office.
This initiative was designed to safeguard access to cash in communities, in the face of increasing closure of bank branches amid customers’ digital shift.
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By GlobalDataSince the beginning of 2020, more than 760 million transactions have been carried out by personal and business customers at Post Office branches.
The data collected by the Post Office shows a year-on-year increase in both business and personal cash deposits from 2020 through to the end of 2024.
The renewed agreement aims to support continued demand for in-person cash services nationwide.
It follows recent research by the Post Office, which revealed that 89% of respondents consider it important to maintain access to cash in the UK, and 53% use cash for everyday transactions at least once a week.
Post Office CEO Neil Brocklehurst said: “Post Office is an organisation that needs change, and I am proud to have been appointed the new CEO with a mission to deliver this. I am determined to deliver a ‘New Deal for Postmasters’ that drives up postmasters’ incomes and strengthens their voice in the day-to-day running of the business.
“This new, five-year agreement with banks and building societies ensures our branches remain vital hubs for cash access and provides certainty for businesses and individuals nationwide when it comes to their everyday banking.
“This agreement also means that we will be able to increase the income postmasters receive for delivering banking services, a key pillar of our transformation plans.”
