PayPoint, in partnership with Alliance & Leicester Commercial Bank is delighted to announce an exclusive new banking deal that will ease the cost of cash and other business banking charges for PayPoint agents.

Independent retailers will enjoy similar preferential terms to those of much larger businesses, when they take advantage of this new package, available only to PayPoint agents.

The new deal will enable agents to now pay from only 8p per £100 for cash deposited. As well as the preferential rate on cash deposits, agents will also benefit from free direct debits and other substantial savings on charges.

Alliance & Leicester Commercial Bank is recognised as offering better value banking and has been named ‘Best Current Account Provider’ by leading independent finance guide Business Moneyfacts for the last four successive years.

PayPoint agents who currently bank with Alliance & Leicester Commercial Bank will be written to about the new terms which take effect on 1^st December 2006. All other PayPoint agents will be mailed information on how to apply for the new package early in 2007. All applications will be made directly to Alliance & Leicester Commercial Bank.

Mike Igoe, PayPoint’s Retail Director commented: “These fantastic rates apply to all our retailers’ cash banking, not just cash generated by PayPoint transactions. Once again, PayPoint has demonstrated its ability to deliver deals that can deliver hundred of pounds of bottom line profit to our agents.

“Our thanks go to Alliance & Leicester Commercial Bank who via the Post Office is able to offer the most comprehensive branch network across the UK, so the service could not be more convenient.”

To view the full press release please click here.