With 6,000 banks now shut the elderly rely on Post Offices even more

THE death of the high street means Post Offices are needed now more than ever, campaigners say.

- By Giles Sheldrick Chief Reporter

More than 6,000 bank and building society branches have closed since 2015, or are due to shut by the end of this year. Only around 5,000 high street banks remain operational.

Closures — equal to 54 a month — are set to accelerate as lenders continue to pull out at a time of record profits in a move that has angered millions of frustrated customers.

It means Post Offices are now relied upon to fulfil the functions once performed by lenders. Baroness Ros Altmann said: “For so many elderly people Post Offices are a lifeline to help them with their money and sell them stamps for the letters they use to keep in touch with friends and family.

“Older people are so familiar with Post Offices and as more banks are closing branches their lives would be poorer without them.”

Labour is consulting on whether to get rid of the requirement to keep at least 11,500 Post Offices open.