Business bank account holders from two major financial service providers in the UK now have the option of stopping off at a Post Office branch to access their funds.
Companies and firms that hold business bank accounts from either NatWest or the Royal Bank of Scotland now have the option to access their hard-earned cash through Post Office branches according to an announcement earlier this week.
The coalition Government has also recently revealed that Post Office branches will also be made available for RBS and NatWest customers to conduct financial business in regards to any current accounts they may have with either of the two UK financial service institutions. THe government has instituted the new changes in order to breathe new life into the Post Office to make it more relevant and accessible to UK savers and consumers in general, sources say.
Surbiton and Kingston MP Edward Davey, who also serves as the government’s minister for matters regarding postal affairs, recently commented on the Coalition’s long-term plans to revitalise the network of UK Post Office branches in an effort to safeguard and expand the tremendous assets they bring to the nation as a whole.
In conjunction to this high valuation of the Post Office, the government has gone as far to pledge £1.34 billion in new funds for the organisation through 2014. Mr Davey stated his high degree of pleasure with the decision to allow NatWest and RBS business bank account holders to access and manage their financial affairs from the organisation’s national network of branches.
Economic experts have pointed out that for the government to pledge such a large figure, even spread across the next four years, is indicative of its commitment to the Post Office. This is especially telling due to the large number of cut backs the government has instituted to the public sector recently.