Finance & Economics

The first partnership of Post Office and mobile-only bank announced

Starling Bank announces a partnership with Post Office in a bid to tackle “bank branch deserts”

Post Office

The first partnership of the Post Office and a mobile-only bank announced. Source: starlingbank.com

British mobile-only bank Starling has become the first mobile-only bank to partner with the Post Office to offer Everyday Banking services to its customers. The partnership will allow Starling current and business account customers to deposit and withdraw cash through the Post Office’s 11,500 branches nationwide.

The partnership provides consumers with physical account access alongside their mobile banking. It brings the total number of banks now part of the Post Office’s Banking Framework to 28, helping to provide vital access to banking services, especially in those 1,500 communities across the UK which are without a bank branch.

The charges for use of the Post office service

Business Account cash deposit £3 per cash deposit, 0.3% over £1000
Business Account cash withdrawals from Post Office 50p per withdrawal (Post Office ATMs free of charge)
Personal Account No charges for Post Office services

SEE ALSO: How the postal service became a bank

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