Commonwealth Bank, National Australia Bank and Westpac have all signed new updated in-principle Bank@Post agreements with Australia Post, providing customers with greater certainty about banking services at approximately 3,400 post offices.
Australia Post is also in the final stages of negotiations with ANZ that will enable ANZ customers to use Bank@Post services from October 1, 2025. Macquarie Bank and HSBC have also agreed to start negotiations with Australia Post on Bank@Post services.
According to Australia Post, the enhanced commercial terms with the major banks will help improve the financial outlook for Bank@Post and introduce standardized services for customers across all participating banks.
Paul Graham, chief executive officer and managing director, Australia Post, said, “On behalf of the millions of Australians who use Bank@Post across our post office network, I am very pleased to have an improved in-principle agreements and new commercial terms with the Commonwealth Bank, National Australia Bank and Westpac and to welcome ANZ to Bank@Post.
“The improved arrangements and ANZ’s membership help ensure Bank@Post is on a more sustainable financial pathway and that Australia Post can continue providing essential banking services in the many communities where there are no other banking services available.
“The new agreements will also help maintain the sustainability of thousands of licensed post offices, many of which are small businesses run by families who play an essential role in servicing their local communities.”
POAAL support
The Post Office Agents Association Limited (POAAL) welcomed news of the Bank@Post agreements, with POAAL director Bob Chizzoniti OAM commenting, “Over-the-counter banking services have long been a part of post office operations. Bank@Post gives customers from a wide range of financial institutions the ability to deposit and withdraw money over the counter at the post office.
“POAAL is pleased Australia Post has been able to reach agreement with ANZ, meaning that all the ‘big four’ banks will be part of Bank@Post. This is good news for licensees and ANZ customers.
“In many communities, post offices are the only place where people can access cash. The Bank@Post service, bringing financial institutions to the post office counter, means more convenience for customers all over Australia.”