Post Office and Western Union have announced an expansion in their partnership which will see a minimum of 4,000 Post Offices offer cross-border money transfers for the first time.
Previously, Western Union customers could only use the Post Office website for money transfer services. The new in-branch service will drive footfall to 4,000 Post Offices whilst at the same time doubling Western Union’s UK retail network.
Post Office’s expansion in its partnership with Western Union is a demonstration of Post Office’s strategy to work with leading, globally recognised names to support today’s Postmasters and identify additional remuneration opportunities.
Post Office operates the UK’s largest retail network with 11,500 branches across the UK. In many communities it is the last counter in town where people can securely and conveniently deposit and withdraw cash. Post Office offers people, especially those who are newly arrived in the UK, with a one-stop experience where they can access their cash, transfer money overseas to loved ones and at the same time send letters and parcels to relatives and friends abroad.
Nick Read, Chief Executive of the Post Office, said: “I am delighted to be expanding our partnership with Western Union, allowing customers to choose whether they want to use the money transfer service digitally or prefer to do it face-to-face. Postmasters are knowledgeable, reliable and can provide that assurance that a transaction has gone through with a printed receipt which many of our customers still value. Furthermore, this expanded partnership helps drive footfall into 4,000 of our branches providing postmasters with increased remuneration opportunities.”
Devin McGranahan, Western Union President and CEO, said: “I am delighted that Western Union, one of the world’s biggest financial networks, and UK Post Office, the UK’s biggest retail network, are expanding our collaboration, aiming to serve our customers better in a transformed post-pandemic environment. “At the same time, the announcement shows how we at Western Union continue to see our leadership in retail as critical to our success, and as a critical element of our omni-channel offering. As we continue to expand our global network, we will seek not only to improve access, but also, importantly, working with our partners, to truly transform the retail experience we offer our customers, in the UK and across the world.”
The In-branch money transfer service with Western Union is planned to roll out from Autumn 2022.