Press release -
Post Office announces partnership expansion with Western Union; Minimum 4,000 branches to offer new money transfer service
- Post Office and Western Union expand partnership which will see a minimum of 4,000 branches offer cross-currency money transfers and payment services.
- Previously Western Union customers could only use the Post Office website. New in-branch service drives footfall to 4,000 Post Offices whilst at same time doubling Western Union’s UK retail network.
- Demonstration of Post Office’s strategy to work with leading, globally recognised names to support today’s Postmasters and identify additional remuneration opportunities.
- In-branch service is planned to roll out from Autumn 2022.
Post Office and Western Union have today announced an expansion in their partnership which will see a minimum of 4,000 Post Offices offer cross-border money transfers for the first time.
Previously, Western Union customers could only use the Post Office website for money transfer services. The new in-branch service will drive footfall to 4,000 Post Offices whilst at the same time doubling Western Union’s UK retail network.
Post Office’s expansion in its partnership with Western Union is a demonstration of Post Office’s strategy to work with leading, globally recognised names to support today’s Postmasters and identify additional remuneration opportunities.
Post Office operates the UK’s largest retail network with 11,500 branches across the UK. In many communities it is the last counter in town where people can securely and conveniently deposit and withdraw cash. Post Office offers people, especially those who are newly arrived in the UK, with a one-stop experience where they can access their cash, transfer money overseas to loved ones and at the same time send letters and parcels to relatives and friends abroad.
Nick Read, Chief Executive of the Post Office, said:
“I am delighted to be expanding our partnership with Western Union, allowing customers to choose whether they want to use the money transfer service digitally or prefer to do it face-to-face. Postmasters are knowledgeable, reliable and can provide that assurance that a transaction has gone through with a printed receipt which many of our customers still value. Furthermore, this expanded partnership helps drive footfall into 4,000 of our branches providing postmasters with increased remuneration opportunities.”
Devin McGranahan, Western Union President and CEO, said:
“I am delighted that Western Union, one of the world’s biggest financial networks, and UK Post Office, the UK’s biggest retail network, are expanding our collaboration, aiming to serve our customers better in a transformed post-pandemic environment. “At the same time, today’s announcement shows how we at Western Union continue to see our leadership in retail as critical to our success, and as a critical element of our omni-channel offering. As we continue to expand our global network, we will seek not only to improve access, but also, importantly, working with our partners, to truly transform the retail experience we offer our customers, in the UK and across the world.”
The In-branch money transfer service with Western Union is planned to roll out from Autumn 2022.
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About the Post Office
- With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.
- Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with over 30 banks, building societies and credit unions means that 99% of UK bank customers can access their accounts at their Post Office.
- Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.
- Post Office is simplifying its proposition for Postmasters with a focus on itscash and banking; mails and parcels; foreign exchange; andbill paymentsservices.
- Researchhas found that visits to the Post Office help drive another 400 million visitors to other shops, restaurants and local businesses equating to an estimated £1.1 billion in additional revenue for High Street businesses.
- 99.7% of the population live within three miles of a Post Office; and 4,000 branches are open seven days a week.
