HSBC to offer banking services at Post Office counters in UK
18 September 2012
HSBC customers in the UK will now be allowed to use the Post Office counter network for basic transactions. Most banks in the UK, apart from HSBC and Santander, allow transactions at post offices for their customers.
The two banks last year came in for accusations of "holding out" against offering the service by a previous consumer minister.
According to HSBC, it was changing its policy due to customer demand.
The bank had claimed a year back that fewer than three in 10 of its customers actually wanted such access.
Come spring 2013, 9 million HSBC and First Direct customers would be able to withdraw money, deposit cash and cheques and check balances at all 11,500 Post Office branches in the UK.
They already have access to 1,200 HSBC branches in the UK, but the bank closed 50 branches in 2011 and has followed it up with another 36 closures so far in 2012, blaming reduced local demand.