Key Post Office deal agreed for future of cash

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Key Post Office deal agreed for future of cash
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Customers of 30 banks and building societies can continue to use post offices to deposit cash.

Customers of about 30 UK banks and building societies can continue to use post office counters for basic banking until at least 2026.

The new deal, which covers three years from next January, is seen as key in securing the future acceptance of cash. Individuals and small businesses can withdraw and deposit notes and coins from their accounts at 11,500 post office counters."Monzo is a branchless bank, with customers able to carry out the majority of their banking needs through the Monzo app. Customers can also deposit cash at Paypoint, which is available in over 28,000 convenience stores, corner shops and retailers across the UK," a spokeswoman for the bank said.

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