HSBC commercial current account customers will now be able to use Post Office counters for cash withdrawal and deposit, and checking balances.
Initially, business customers will require a business debit card to access these services, which can be arranged through their relationship manager.
Paper-based services, which include paying-in slips and barcodes for depositing, will be available later in 2016, explained Martin Wright, HSBC’s area director for Norfolk and Waveney Business Banking.
However, there are limitations to transaction values, and smaller Post Office branches will only be able to accept a maximum £1,000 cash deposits.
Mr Wright said HSBC does not currently offer a cheque deposit service at the Post Office for commercial customers, but is working with the Post Office to make this service available later in 2016.
Similarly, it is hoped a cash exchange service will be available for commercial customers later this year.
The changes come into effect from 22 February at the latest. If commercial customers choose to use the service after they get HSBC’s communication sent on 1 December, but before 22 February, “this means they are agreeing that the changes will come into effect for them from the day they first use the service”, said Mr Wright.
See our earlier stories:
- HSBC ‘clinics’ to be withdrawn
- Bank to provide enquiry facility in the Bircham Centre on Wednesdays
- HSBC urges customers to talk to staff prior to closure
- Bank closure will mean more business for post office
- ‘Always busy’ HSBC bank closure ignites business concerns
- HSBC to close Reepham branch in October
- Local concerns about HSBC’s future