Friday, 28 April 2017

Closure of Coop Bank

It takes over 2 weeks to get the paperwork to pay in via the Post Office so if you want to use the Post Office after the branch closes give the Coop a ring and get the process set up.

From Stella Creasy's Newsletter

The Closure of the Co-op Bank in Walthamstow and the Future of our Post Office Branches: Update  
Many residents who are customers of the Co-op Bank have been in touch with me following notification that the Walthamstow branch will close in June this year. I've challenged the Bank about this decision and they have told me the following:

"Walthamstow branch experienced a 12% drop in counter transactions in 2016, on top of an approximately 30% fall in counter transactions in 2015 as our customers continue to move their day to day banking transactions online and increasingly make use of contactless payments.  A total of 3,929 customers visited the branch during the past 12 months, with 54% visiting the branch only once or twice in that period.  This means that maintaining
this branch is no longer sustainable"

Whilst this means the closest Co-op Branch will now be in Wood Green, the Coop say that customers will be able to carry out a 'number' of transactions at the Post Office - given this will mean some are no longer available, I've asked the bank to further clarify what services will be open to residents at the Post Office. The Co-op have also asked all customers in Walthamstow to visit their branch before June to discuss how they intend to manage their account in future.

Given the uncertain future of the Walthamstow Post Offices due to the plans to 'franchise' these services I'm also concerned that this may further affect the facilities open to local residents. To raise these concerns and help protect access to services I will be participating in a debate in parliament on the future of the Post Office network on Tuesday 25th April in Westminster Hall. 

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