If you’re a Postmaster who wants to start running a fast-track cash deposit service for small businesses and earn more remuneration from the additional customers coming to your branch as a result, then Post Office would like to hear from you.
We’re looking to launch a new cash deposit product, Time Saver, to allow our business customers to bypass the queue, similar to the Drop and Go service for mail customers. The banks will nominate their business customers for Time Saver, which will be fast and convenient for customers.
We already handle over 12 million business cash deposits per year and this is growing – the feedback we receive from business customers is they want a fast-drop service at Post Office.
This is a service that most banks already offer to their business customers, but, as more and more bank branches close on the High Street, we believe this will encourage small businesses to deposit their cash at their local Post Office instead.
Why should I offer Time Saver in my branch?
- You could see increased customer loyalty for offering a great service in branch. Businesses using Time Saver will feel valued and may even spread the word, which will drive more deposits in your branch.
- By offering Time Saver, you can avoid queues building up, especially during busy periods. Business customers will bring in their cash deposits in a pre-populated pouch and drop it off at the parcels hatch or your agreed acceptance point – so other customers will not have to wait in line behind someone depositing large amounts of cash at the counter.
- Time Saver increases efficiency in your branch, as you can check the deposits at a time that best suits you and your team every day.
- Each branch will have an indemnity in place for providing this service to nominated customers and any discrepancies found when you check the deposits are recorded on Horizon. This means you won’t be out of pocket if there is a shortage.
Please note it is the partner banks who nominate their business customers to be able to use Time Saver. You will need to check the deposits in branch and log them on Horizon – you cannot send the pouch to the cash centre for counting. Remuneration paid for Time Saver will be the same as a normal business banking deposit.
How do I sign up to get Timer Saver in my branch?
If you would like to participate in offering this service in your branch, please follow the link to complete the form on Branch Hub. Alternatively, you can copy and paste the following link into your browser, then once you’ve logged in, click on the ‘Surveys’ button on the Branch Hub homepage to access the Time Saver form: branchhub.postoffice.co.uk.
To make sure you can operate Time Saver in your branch, please sign up on Branch Hub as soon as you can.
We are looking to run Time Saver in at least 1,000 branches. Once we have reached this number, we will offer the service to our banking partners for them to nominate their customers. We recognise we have only given you a small amount of detail here, so look out for more information on the new Time Saver product on Horizon and Branch Focus soon.
If you have registered your interest in Time Saver but then change your mind, please email email@example.com who will remove you from the list.