News in Brief

Access to Cash Assured at UK Post Offices

A new agreement has been signed between the UK’s Post Office and 30 banks and building societies to allow customers to continue to access basic banking services in post offices.

The agreement, known as Banking Framework 3, lasts until 2026 from January 2023.

About £3 billion a month is deposited or withdrawn from post offices.

Estonia Considers Coin Rounding

Eesti Pank, the central bank of Estonia, issues cash information every quarter giving a snapshot of the changing situation. Estonia is considering coin rounding given that 40% of the coins returned to the bank are one or two cent coins. Finland, Belgium, the Netherlands, Ireland and Italy have already introduced rounding rules for shop purchases and Slovakia joins them in July.