Lloyds TSB tests link with Post Office

Lloyds TSB, the UK’s biggest bank, is piloting a scheme that could see it offer a basic business banking service through the 15,500 Post Office branches in England and Wales.

Lloyds TSB, the UK’s biggest bank, is piloting a scheme that could

see it offer a basic business banking service through the 15,500 Post

Office branches in England and Wales.

Lloyds TSB struck the deal with GiroBank, the retail bank which operates

through the Post Office, to give business account holders the

opportunity to deposit cash and cheques, and change notes for coins at

Post Office branches.

The scheme is being tested in 11 branches in Reading. The service will

roll out nationally in the first quarter of next year if the pilot is a


Last week the government issued a statement encouraging banks to offer

banking services through the Post Office as a means of providing

branch-based banking to remote communities (Marketing, November 18).

Banks have been criticised for gradually reducing their networks.

NatWest, Barclays and Northern Rock have all announced branch closures

this year.

The banks claim the need to reduce costs, exacerbated by the explosion

in direct telephone and online banking techniques, has led to the


Lloyds TSB spokeswoman, Kirsty Clay, said: ’We can now provide bank

services to areas where perhaps there is no bank. That the Post Office

is open on Saturday mornings is also an advantage for small businesses,

which often need change.’

Lloyds TSB became the first high street bank to offer services through

the Post Office when it introduced a basic personal banking service in


The government and industry analysts have identified the Post Office as

the most likely replacement for the high street bank. It is envisaged

that a single Post Office could provide over-the-counter banking for a

number of retail banks.

Post Office Counters, the company formed when the Post Office was

privatised, is currently seeking to increase the range of services it

offers to the public.


Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs

subscribe now


Lynx tells men not to leave love to fate
HBO captures awkwardness of watching sex scenes with parents
Primark to open first US stores with Boston chosen as flagship location
Marketing spend on the up but a reality check is needed before celebrating
Top 10 ads of the week: Jackpotjoy and BT Broadband fend off Kevin Bacon
Lidl beats Tesco to 10m Facebook fans
Center Parcs ad banned for encouraging parents to take kids out of school
Coca-Cola, Cadbury and Amazon named top brands for targeting youth market
Leaked document shows Nokia to be rebranded as Microsoft Mobile
Nike lays-off hardware staff in move that casts doubt on future of FuelBand
Greenpeace says save the bees or humans will die
What brands need to know about changes to VAT and online downloads in 2015
Jimmy Savile victims urged to claim compensation in new ad campaign
UKIP launches biggest  ad campaign and stirs up 'racist' accusations
Apple boss Tim Cook provides voiceover on ad touting firm's renewed green commitments
John Lewis walks consumers through its history to celebrate 150 years of business
Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up
Hottest virals: Cute puppies star in Pedigree ad, plus Idris Elba and Fruyo
Amnesty International burns candles to illuminate new hope
Toyota achieves the impossible by calming angry Roman drivers
Tom of Finland's 'homoerotic' drawings made into stamps
YouTube reveals user habits to appeal to 'older' marketers
Ex-M&S marketing chief Steven Sharp consulting at WPP
Wolff Olins reveals new CEO after Apple poaches Karl Heiselman
Glasgow offers £30,000 prize to best digital idea for 2014 Commonwealth Games
Google's revenues surge but shares drop as it grapples with transition to mobile
Facebook beats Twitter to most 'marketing friendly' social media site crown, says DMA
Fableists believe children like Finn should be outdoors enjoying life
Homebase, Baileys and Camelot join the line-up at Media360
MasterCard renews Rugby World Cup sponsorship to push cashless message