Australia Post to Offer OTC Services to Tabcorp Customers

27th November 2009 8:32 am GMT

In order to offer customers greater convenience in making deposits and withdrawals to and from their TAB accounts, Tabcorp has entered into an agreement with Australia Post under which the state-owned postal service will deliver over-the-counter account services to Tabcorp customers at more than 3,300 outlets.

From next month, Tabcorp TAB account holders will be able to deposit, withdraw and obtain balances of their betting accounts at potentially more than 3,300 post office outlets in all Australian states and territories, excluding Queensland.

Australia Post will also accept applications for new TAB accounts which will include an in-person identity check service. Betting transactions will however not be offered.

Bank@Post is Australia Post's agency banking service offered at over 3,300 retail outlets, allowing customers to undertake everyday banking transactions with a large number of participating banks, financial institutions and now Tabcorp.

"NSW and Victorian TAB account customers now have greater access to their accounts through Australia Post's retail network nationally," said Adam Rytenskild, Tabcorp's General Manager of Account and Oncourse Wagering.

Rytenskild said that the agreement with Australia Post supports Tabcorp's strategy of offering its customers the best products, service and convenience in what is now a national wagering market.

"Similar to bank customers who are able to access banking facilities through Australia Post's Bank@Post service, our TAB account customers will benefit by having more convenient access to their accounts across an extensive range of retail locations," he said.

Existing New South Wales and Victorian TAB account customers across Australia will shortly receive new TAB account cards that will allow them to access the service. Initially, the service will be available in all Australian states and territories, except Queensland.

Shares in Tabcorp Holdings Limited (Co. Profile) (ASX:TAH) closed earlier today down 1.12% at AUD$7.04 per share in Sydney.

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