Following a letter signed by 121 MPs, including myself, Lloyds Bank has said that it will accept cheque deposits at Post Offices until 2030. This is a welcome step in the right direction.
Lloyds was the only major British bank that did not allow its customers to deposit cheques at Post Office branches and Banking Hubs, causing problems for customers who still rely on cheques, especially older residents, disabled people, small businesses, charities, and community groups.
The 2030 deadline is subject to Lloyds and the Post Office reaching an agreement on contract terms, and both sides should now focus on securing that agreement so customers can continue to deposit cheques locally.
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Banking Hubs and Post Offices are lifelines for communities losing traditional bank branches.
Yet Lloyds Bank is the only major British bank that doesn't allow customers to deposit cheques at Banking Hubs and Post Offices. This hits local businesses, the elderly, and rural areas hardest.
That’s why I’ve joined over 120 colleagues in writing to Lloyds Bank to demand they reverse this policy 👇