Australia Post announced it has finalised updated in-principle Bank@Post agreements with Commonwealth Bank, National Australia Bank and Westpac.
Australia Post also announced negotiations with ANZ are at an advanced stage with both parties agreeing to key terms which would see ANZ customers able to use Bank@Post services from 1 October 2025.
Furthermore, Macquarie Bank and HSBC have agreed to start negotiations with Australia Post on Bank@Post services, meaning customers at Australia’s largest banks will be able to undertake essential banking transactions via Bank@Post.
Today’s announcement provides Australian communities with greater certainty about banking services at approximately 3,400 Post Offices who provide Bank@Post services, particularly to vulnerable and rural and regional customers.
The enhanced commercial terms with the major banks will help improve the financial outlook for Bank@Post and introduce standardised services for customers across all participating banks.
Paul Graham, Chief Executive Officer and Managing Director, Australia Post said today’s announcement was a great example of businesses working together to put customers’ needs first.
“On behalf of the millions of Australians who use Bank@Post across our Post Office network, I am very pleased to have an improved in-principle agreements and new commercial terms with the Commonwealth Bank, National Australia Bank and Westpac and to welcome ANZ to Bank@Post.
“The improved arrangements and ANZ’s membership help ensure Bank@Post is on a more sustainable financial pathway and that Australia Post can continue providing essential banking services in the many communities where there are no other banking services available.
“The new agreements will also help maintain the sustainability of thousands of Licensed Post Offices, many of which are small businesses run by families who play an essential role in servicing their local communities.
“I would like to thank the Treasurer, Dr Jim Chalmers, the Minister for Finance, Katy Gallagher, the Minister for Communications, Michelle Rowland and the major bank CEOs and ABA for their support in finalising these enhanced Bank@Post agreements.
Angela Mitchell, member of Australia Post’s Licensee Representative Council said, “Bank@Post is one of many ways we support our local communities, especially in areas where there is no alternative access to cash. As Licensees, we’re small business owners ourselves, and we understand the critical role we play in delivering Bank@Post for our customers.”
(Australia Post)
