The boss of a major banking group has succumbed to pressure from furious customers and MPs and agreed to reinstate cheque deposits at Post Offices and banking hubs.
Lloyds Banking group, which also includes Halifax and the Bank of Scotland, previously stopped cheque deposits at Post Office branches and hubs and justified it by arguing customers could still pay in cheques at branches or scan them from the app on their phone.
Esther McVey has campaigned against the decision since she was alerted to the change by one of her sub-postmasters last year.
Now, Lloyds Banking Group has confirmed it has asked Post Offices and banking hubs to accept cheques until the end of 2030.
Ms McVey said: “This is a step in the right direction and a welcome step forward. Now the agreement between Lloyds Group and the Post Office needs to be signed as quickly as possible so this service can be restored.
“Many customers want to use cheques and when the decision to stop accepting them was made, there was little consideration on how this decision would affect those living in rural areas, the elderly or disabled who would struggle to get to a branch, as well as those customers who do not have access to internet banking or who chose not to bank in this way.
“While I am pleased customers will be able to deposit cheques for the next four years, there needs to be a long-term solution and this fight is not over.”
Ms McVey was one of 121 cross party MP who wrote to Lloyds Group Chief Executive Charlie Nunn earlier this month, asking him to personally review the decision.
Lloyds was the only major British bank that did not allow its customers to deposit cheques at Post Office branches and Banking Hubs.
