The Post Office has announced a link up with Advanced Payment Solutions (APS), its first affiliation with an alternative banking provider.
APS already has nearly one million business and consumer customers for its ‘Cashplus’ digital current account service. In partnership with MasterCard, APS offers the current account with a prepaid card.
The service supports over a fifth of UK local authorities with their social care programmes, handling over £180 million worth of benefits payments each year. Today’s deal will allow APS customers to access over-the-counter cash withdrawals and other banking services at more than 11,500 Post Office branches.
Rich Wagner, CEO and founder of APS, said: “By allowing our customers access through the Post Office network, it will enable us to provide a solution to the diverse needs of our customers – extending our simple, transparent online services to in-branch facilities.
“Embracing new players into an infrastructure designed for banks marks a significant step towards levelling the playing field between alternative financial service providers and traditional banks.”
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