Bank@Post

Posted: May 2, 2005 at 11:23 am

The Federal Government has announced details of the Bank@Post programme. POAAL has been lobbying federal politicians and AP to extend electronic banking services to manual LPOs – especially those in rural areas – for some time. It is satisfying to see that the Bank@Post programme targets these LPOs, and the programme should offer Licensees the opportunity to grow their business and increase the services they can offer to their local community.

The programme has been given $9.7m over four years to make Bank@Post available at over 200 manual LPOs that each perform more than 2,500 transactions pa.

AP has agreed to accept responsibility for a further 7 years for any technology shortfall fees incurred at LPOs where the number of annual transactions fails to reach the 10,000 transaction threshold.

POAAL has lobbied strongly on behalf of Licensees at manual LPOs for banking services to be extended to their businesses. POAAL successfully lobbied for many manual LPOs to received EPOS under the Rural Transaction Centre programme. We continued to lobby federal politicians after the RTC Programme funding had ceased, and Bank@Post follows on from the RTC Programme.

Twenty LPOs have been earmarked to receive Bank@Post by June 2005. The remainder will receive the service in the following 18 months.

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