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Post offices could be your new cash machine

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Australia Post chief executive Paul Graham is negotiating with the big four banks to roll out smart ATMs and expanded banking services across the country, after it recorded its latest big annual loss – of $88.5 million.

National Australia Bank chief executive Andrew Irvine told a parliamentary committee on Friday he had discussed the plan, including post offices taking more cash deposits in regional centres, with Mr Graham last week.

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Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/retail/post-office-closures-and-bank-service-changes-loom-after-88m-loss-20240830-p5k6li