I am pleased that Lloyds Banking Group have agreed to restore cheque and deposit services at Post Office branches and banking hubs.
This is following a cross-party letter, coordinated by Graham Stuart MP and signed by 121 MPs, which called on Lloyds to rethink its decision.
In its response, Lloyds said it had reflected on feedback from customers and MPs and had asked the Post Office to accept cheque deposits into Lloyds accounts in Post Offices and Banking Hubs until the end of 2030. The change is subject to the Post Office agreeing acceptable commercial terms with Lloyds.
Post Office branches have helped to keep face-to-face banking available, which is especially important for older people, disabled customers, small businesses, charities and community groups. People should not be forced to struggle with an app, send cheques through the post, or travel miles when other major banks allow cheque deposits through Post Offices.
The priority must now be for Lloyds and the Post office to get the agreement signed. Nevertheless, this commitment is a welcome step forward for those in Ruislip, Northwood and Pinner who still need to deposit cheques locally.
The response from Jasjyot Singh OBE (CEO, Consumer Relationships at Lloyds Banking Group) can be read below.
