Australia Post seals banking deals for Post Office branches

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Australia Post has announced agreements with the Commonwealth Bank of Australia (CBA) and NAB to offer banking services in Post Offices nationally for the next decade.

The 10-year in-principle agreements with the two major banks will, says Australia Post, enable it to support ongoing investment in the Bank@Post service in order to provide safe, reliable banking services for Australians, particularly those in regional areas and small businesses.

The agreements also support the long-term sustainability of thousands of Licensed Post Offices and their owners, many of whom are small businesses and families who play an essential role in servicing their local communities.

Australia Post executive general manager, community and consumer, Nicole Sheffield, said the announcement highlighted the importance of Bank@Post, which provides banking services at more than 3,500 local Post Offices.

“We know how important the local Post Office is for so many communities and small businesses – particularly in regional areas. The support of CBA and NAB will ensure access to banking services for those communities can be maintained, and additional related services introduced, to better support the needs of banking customers for the next decade,” Sheffield said.

“The agreements will also allow us to invest further in our Post Office network, recognizing the valuable role our people play in supporting communities across the country. Our Post Offices also play a critical role during natural disasters, emergencies and more recently through the Covid-19 pandemic with access to products and services through lockdowns and travel restrictions.”

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Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he is responsible for content across UKI Media & Events' portfolio of websites while also writing for the company's print titles.

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