U.K. Post Offices Become De Facto Bank Branches
The U.K.’s Post Office, which has a long history of providing financial services, including prepaid cards, has entered the banking market in a new way with an industry-wide agreement with the nation’s banks going into effect today. From Jan. 24, 99 percent of U.K. personal bank customers and more than 75 percent of business customers can do their day-to-day banking at the Post Office—described as the “biggest expansion in face-to-face banking access in a generation.”
