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July 13, 2020

Coutts joins the Post Office Banking Framework

By Patrick Brusnahan

Wealth manager and private bank Coutts has joined the Post Office Banking Framework. This allows its customers to perform banking services such as cash withdrawals, deposits, or paying in cheques at one of the Post Office’s 11,500 branches.

The agreement means that UK-based Coutts is the 30th firm to join the scheme. Coutts clients now have close to 22,500 locations across the country where they can carry out their banking requirements, also including NatWest/RBS branches and ATMs.

Adam & Company, also owned by RBS/NatWest, will become the 31st bank to join the system.

James Clarry, chief operating officer at Coutts, said: “We know that our clients value both personal service and choice. Whilst an increasing number of our clients are using our award-winning digital services, many continue to prefer the ability to engage face-to-face in their own communities.

“That is why we are delighted to have joined the Post Office’s Banking Framework – to ensure we continue to be as accessible as possible for our clients, in ways that suit them best. It is with great pleasure that we can connect two iconic British institutions, Coutts and the Post Office, to extend our services into over 22,000 locations in the UK.”

Martin Kearsley, banking director at the Post Office, said: “Post Office and Coutts have both been in business for well over 300 years and we’re delighted their customers, and those from Adam & Company, can now do their everyday banking at our 11,500 branches. With 6,000 of our branches being in rural areas, many open longer hours and at weekends, we’re ideally placed to provide a convenient, personable and secure service for their customers.”

Coutts is in the middle of planning a 25% decrease in carbon emissions in its funds and portfolios by the end of next year.

The bank, which highlighted the plans in its 2020 Sustainability Report, incorporates ESG-thinking across the full investment process instead of providing specific offerings.

So far this year, the bank lowered its carbon footprint by 23% from its Coutts Invest funds.

It targets a 50% carbon emission reduce across its overall holdings by 2030.

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