Postmasters have been finding themselves subsidsing the Government owned business
Northern Ireland Post Offices are coming under mounting pressure to remain viable amid rising costs and banking regulations.
The National Federation of SubPostmasters has said that it has been lobbying MPs and ministers in an effort to highlight the challenges being faced by Postmasters in Northern Ireland, specifically with regards for support with rising energy bills and recent measures that have been imposed by Financial Conduct Authority to stop money laundering that are affecting the Post Office's banking services.
They said: "In recent months we have found that we are being forced to subsidise our Post Office services through our retail business because we are just not getting the remuneration from the company for these to be profitable. "We had also been told that the banking services would become a focal point of our businesses in order to generate income, but in recent months it feels like the carpet has been taken out from underneath us due to action that has been taken by the FCA with regards to money laundering, which is limiting the amount of money that people are able to deposit with us at any one time.
However despite this, they say that the business just about makes a profit and believe there is more that the Post Office could be doing to make the business model more successful for Postmasters. "There is definitely an ability for the business model to succeed as some of our services, such as the drop and go service, are popular and valued by our customers, but I feel that the Post Office Ltd as a whole needs to be more flexible and look at ways where we can become more competitive against our competitors and a few tweaks to our models could do that."
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