The Post Office has announced a change to its money transfer services across thousands of branches.
The state owned firm has signed an exclusive deal with Western Union, meaning the American company will be the sole provider of the Post Office’s international money transfer services.
Western Union transfer services are already available across 4,000 branches but this announcement represents a further expansion.
The current services let people send money to more than 200 countries and other territories worldwide.
The Post Office said Western Union ‘will also expand beyond the current 4,000 Post Office locations which offer its money transfer services, providing customers a reliable and convenient way to send money overseas from thousands of locations across the UK’.
As part of this deal, ‘postmasters and strategic partners will benefit from enhanced financial incentives for every money transfer transaction handled in branch, building on the uplift introduced in October 2024’.
Post Office chief executive Neil Brocklehurst said: ‘I am delighted that Western Union will be our exclusive partner in Post Office branches going forward and this deal brings important benefits for customers and postmasters alike.
‘Post Offices are trusted locations which offer the reassurance of a face-to-face transaction for those who are sending or receiving money from friends and family abroad, and we are expanding the availability of these services.
‘Under this new deal, postmasters and strategic partners will see more money in their pockets for each Western Union transaction which is a crucial part of the commitment to transform Post Office and deliver a new deal for postmasters.’
Footfall in post offices has generally declined over the years due to a number of factors – the major contributors being a shift towards online services and post office closures.
In particular, rural communities have been left with fewer options for accessing cash and financial services.
It is hoped that the new partnership will increase footfall in Post Office branches.
The message going forward is positive with Giovanni Angelini, the President, Europe, Middle East and Africa, Western Union, saying: ‘This deal marks a significant evolution in our partnership with the Post Office and reflects the mutual trust we have built over time.
‘Importantly, this is a partnership based on our shared commitment to providing convenient, reliable access to cross-border financial services for customers across the UK.
‘As we take this next step, our focus remains steadfast: deliver a truly integrated retail and digital experience and meet the diverse needs of customers, with scale, consistency, and confidence.’
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