New Post Office research has found that nearly half of the UK public (48%) use in-person banking at least once a month, and almost seven in ten (68%) want to keep access close to home.
It underlines how millions of people and small businesses still rely on face-to-face services - even as high street bank branches close. Naturally, Post Offices themselves and convenience stores with counters offer this service to communities.
The research found a wide range of everyday moments during which people still want to deal with someone in person, from a recently bereaved customer closing a loved one’s account, to a shopkeeper banking the day’s takings, to someone querying in person whether a suspicious payment request is a scam.
The research found a wider range of demographics regularly opting to bank in person than expected, with younger adults (62% of 18-24 year-olds) have opened a bank account in person in the last two years and 58% say that being able to do so in person is important to them.
People and businesses polled expressed safety and security concerns as a key reason to opt for physical over digital banking - three in five (60%) want to be able to report a scam or fraud in person, while almost the same figure (59%) want to get help with payment issues in person.
Additionally, many of the cash and banking services highlighted in the research are already available at 10,000 Post Office branches and counters across the UK.
Neil Brocklehurst, Post Office CEO (left), said: “We often hear about a digital-led future for banking, but safe and convenient in-person banking remains a fundamental need for people and businesses.
“We’ve established a foundation for this access through collaboration between Post Office and the banking industry with the Banking Framework and delivery of banking hubs.
”The question now is how we build on that progress. As this new research highlights, there’s an emerging challenge around access to a broader range of in-person banking services.”
The Government’s recently launched Access to Banking Services Review is an opportunity for a coordinated response across Government and industry to protect in-person banking services as high street bank branch numbers continue to drop.
Brocklehurst added: “The review is a chance to build on what we’ve learned about collaboration across industry, making best use of existing infrastructure, and designing services around how people actually live and work today.”
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