Post office scheme to rival banks; LIFELINE.THOUSANDS more post offices could be saved under plans to make them direct rivals to banks.
Bosses want to launch a current account in branches.
Customers could pay in and withdraw cash and sort out getting an overdraft A check that is drawn on an account containing less money than the amount stated on the check.
The term overdraft is also used in reference to the condition that exists when vouchers .
Now customers can take out money at POs but only if they have a current account at a bank.
A senior Whitehall source said: "We want to see post offices offering as many services as possible. They are the centre of many communities." An announcement is expected next year.
Last week more than 3,000 post offices were saved after the Government renewed re·new
v. re·newed, re·new·ing, re·news
1. To make new or as if new again; restore: renewed the antique chair.
2. a vital pounds 1billion benefits deal.