The further removal of the government-backed National Savings and Investments’ (NS&I) products and services from the Post Office network has caused concern among subpostmasters.
From April 1, customers will no longer be able to make cash deposits into the NS&I Premium Bonds scheme at post offices. They will still be able to make cheque and debit card deposits through the network.
It will also be withdrawing the Premium Bond information brochures from general display in post offices but they will be available on request at the counter. All other NS&I brochures will also be completely removed from post offices.
The NS&I has been slowly removing its products from the network in an effort to encourage customers to make transactions by phone and online. In April 2009, NS&I closed its Cash ISA to new customers and withdrew the ability for existing customers to make deposits at post offices.
The National Federation of Subpostmasters general secretary George Thomson said this move would “undermine the government’s plan for the Post Office to become the front for government”. He called on the government to take a more active role in ensuring its front office proposals, including face-to-face access at post offices for a full range of central and local government services, come to fruition.