Financial network Western Union is doubling its UK retail network with the expansion of its partnership with UK Post Office to provide retail cross-border money transfers.
The expansion of the collaboration, which was rolled out in 2019, means that UK Post Office customers will be able to send money overseas via Western Union’s UK Post Office digital services or in-person at 4,000 UK Post Office locations.
Western Union’s retail services will be initially rolled-out from Autumn 2022, and will be located in communities that have seen a large number of local bank branch and credit union branch closures.
Devin McGranahan, Western Union president and CEO, said the announcement shows how Western Union continues to see its “leadership in retail as critical to our success, and as a critical element of our omni-channel offering”.
“As we continue to expand our global network, we will seek not only to improve access, but also, importantly, working with our partners, to truly transform the retail experience we offer our customers, in the UK and across the world,” McGranahan added.
Through the collaboration, customers will be able to start transactions digitally or in a retail location and have their funds paid out in cash, directly onto a card, into a mobile wallet, or directly into a bank account, via Western Union’s global network.
“I am delighted to be expanding our partnership with Western Union, allowing customers to choose whether they want to use the money transfer service digitally or prefer to do it face-to-face,” said UK Post Office CEO, Nick Read.
“Postmasters are knowledgeable, reliable and can provide that assurance that a transaction has gone through with a printed receipt which many of our customers still value.”
The Post Office has 11,500 branches across the UK and has partnerships with over 30 banks, building societies and credit unions, which means that 99% of UK bank customers can access their accounts at the Post Office.