Monday, November 23, 2020

FSB blasts Barclays over Post Office cash decision

FSB National Chairman Mike Cherry has blasted the decision by Barclays to stop its customers getting cash through Post Offices, saying the decision will hurt small firms and shoppers nationwide.

Responding to the launch of the House of Commons Businesses, Energy and Industrial Strategy Committee’s ‘Future of the Post Office Network’ report, he’s called on the bank to think again.

He said: “At a time when high streets are struggling, and banks are shutting branches, the role of the Post Office in local communities has never been more crucial. But this important cross-party report makes clear, in no uncertain terms, that our post offices are not receiving the support they need.

“The Post Office cannot fulfil the vital role we need it to play in improving financial inclusion unless the banks are fully behind it. Barclays’ decision to stop its customers accessing cash at post offices will hurt small business owners and shoppers all over the county – especially in rural areas. The bank must think again.

“The fact that sub-postmasters are now struggling to make ends meet and unable to take holidays is not acceptable. Sub-postmasters run businesses that are central to the success of local communities. They should be recognised as such.

“The outsourcing of Crown Post Office services to WH Smith needs to be watched carefully. If this business is going to continue to play a central role in the PO network, it needs to sign the Prompt Payment Code and make an unequivocal commitment to responsible supply chain practice.

“More broadly, there is a bigger conversation to be had about how we create a financial services network that is both comprehensive and commercially viable. The Committee is absolutely right to talk about using the post office network as a foundation for building true community hubs – these should encompass Wi-Fi lounges, meeting spaces for small businesses and access to Local Enterprise Partnership and Growth Hub resources.

“Between the Post Office, banks, Treasury, regulators, local government, card issuers, ATM companies, LINK and broadband providers, there are certainly enough actors in the financial inclusion space. The challenge is getting them to effectively collaborate to the benefit of all.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Recruitment specialist expands in Leicester

Recruitment specialist, Thorn Baker Industrial Recruitment, has taken larger office space at Charles Street in Leicester city centre to facilitate the further expansion of...

Work starts on 80-home development in Rushden

Davidsons Homes has started work on a development of 80 new homes after purchasing seven acres of land in Rushden. The company has full planning...

Double deal at Leicestershire business park

Specialist Property Consultant and Chartered Surveyor, Wells McFarlane has completed two transactions at Arkwright Hill Farm Business Park, Leicestershire, representing more than 12,000 sq...

Check your company’s bandwidth ahead of Black Friday

To ensure companies make a success of Black Friday, Nottingham web agency, Strafe Creative, is stressing the importance of preparation and encouraging firm’s to...

Congestion concerns see council object to 3,200-home development

Lincolnshire County Council has submitted an objection to plans for the Western Growth Corridor development which would see 3,200 new homes built on land...

Related news

Adzooma and Revolut Business launch industry first

Revolut, the growing UK technology company, and international online advertising platform, Adzooma, have announced they will be providing Revolut Business customers with an advertising...

Recruitment specialist expands in Leicester

Recruitment specialist, Thorn Baker Industrial Recruitment, has taken larger office space at Charles Street in Leicester city centre to facilitate the further expansion of...

Work starts on 80-home development in Rushden

Davidsons Homes has started work on a development of 80 new homes after purchasing seven acres of land in Rushden. The company has full planning...

Double deal at Leicestershire business park

Specialist Property Consultant and Chartered Surveyor, Wells McFarlane has completed two transactions at Arkwright Hill Farm Business Park, Leicestershire, representing more than 12,000 sq...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close