02/03/2024
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Post Office has partnered with Monzo, the UK’s largest digital bank, to further expand its Everyday Banking services with the introduction of cash deposit facilities for Monzo customers across all Post Office branches nationwide.
This new service introduces an additional, convenient and accessible way for Monzo customers to deposit cash. With cash payments increasing for the first time in over 10 years according to the latest data, the nationwide coverage of the Post Office means 99% of the UK population live within three miles of a branch and 90% live within one mile so everyone has ready access to cash services.
The service is now live so all personal and business banking Monzo users can conveniently deposit cash into their accounts at any Post Office branch using their debit card and have the money available in their account instantly.
Jeet Jadeja, Postmaster for Staple Hill in Bristol and Quedgeley in Gloucestershire, said:
“Having Monzo on board for cash deposits is fantastic and will make a huge difference for banking customers. Monzo has over 9 million retail customers as well as 400,000 business customers so this will widen Post Office’s appeal in both of my branches and across the network.”
Ross Borkett, Banking Director at Post Office said:
"Post Office is delighted to welcome Monzo as another partner in our Banking Framework, helping us ensure more UK banking customers than ever before can access essential cash services in any Post Office branch.
"We continuously strive to evolve and expand our service, ensuring that customers have easy access to essential financial services within their own community. With cash deposits now available for Monzo customers at all our branches, we are helping to empower even more people to manage their finances conveniently."
