Post Office signs deal with Western Union for money transfer services

Post Office and Western Union have signed a long-term deal for cross-border money transfer services.

The partnership would see Western Union as the sole provider of international money transfer services at Post Office branches.

As part of the new deal, postmasters and strategic partners will benefit from “enhanced financial incentives” for every money transfer transaction handled in branch, announced Post Office.

Western Union is to expand its services beyond the current 4,000 Post Office locations that offer its money transfer services, it said.

The company is known for its international money transfers, with customers able to send money to friends and family in over 200 countries and territories.

Post Office said the deal further strengthens the commercial offer for postmasters and strategic partners, supporting greater footfall and improved service opportunities in branches.

Both organisations have committed to further investment in marketing, with more opportunities for bespoke signage and dual branded marketing campaigns.

“I am delighted that Western Union will be our exclusive partner in Post Office branches going forward and this deal brings important benefits for customers and postmasters alike,” said Neil Brocklehurst, chief executive of Post Office.

“Under this new deal, postmasters and strategic partners will see more money in their pockets for each Western Union transaction which is a crucial part of the commitment to transform Post Office and deliver a ‘new deal for postmasters’.”

Commenting on the deal, Giovanni Angelini, president of Europe, Middle East and Africa at Western Union, said: “This deal marks a significant evolution in our partnership with the Post Office and reflects the mutual trust we have built over time.

”Importantly, this is a partnership based on our shared commitment to providing convenient, reliable access to cross-border financial services for customers across the UK. As we take this next step, our focus remains steadfast: deliver a truly integrated retail and digital experience and meet the diverse needs of customers, with scale, consistency, and confidence.”

The deal follows Post Office’s recent agreement with 30 banks and building societies to protect access to cash on the UK high street until December 2030.