Post Office Bank plan public
(4 December 2009 – UK) The British government has moved plans to offer a wide range of banking tools, in the 1150 Post Office’s nationwide, to the public consultation stage.
The Post Office is joining Tesco as a new rival for the traditional high street banks; as a larger number of consumers turn to the net for the Post Office’s services, the government is trying to revive the tired brand.
The UK government is trying to increase competition in the banking market by offering a range of accounts including current children’s savings, business and budgeting; it will also make the bank become a more substantial player in the mortgage market.
A number of financial services, including savings, insurance, lending, and foreign currency products are all ready offered at the Post Office.
Gordon Brown, prime minister of the UK, said that he wants the Post Office to play a much bigger role; bringing banking services back to the heart of people's communities.
Peter Mandelson, business secretary, said that the growing financial services at the Post Office will help secure the future of the network and give people access to a full range of banking products at an institution they trust and value.
Mr Mandelson added that at a time when some banks and financial services companies are seeking to reduce face to face contact with customers, the Post Office stands out. It offers a trusted brand, and has more branches than the high street banks combined.
The UK government is trying to increase competition in the banking market by offering a range of accounts including current children’s savings, business and budgeting; it will also make the bank become a more substantial player in the mortgage market.
A number of financial services, including savings, insurance, lending, and foreign currency products are all ready offered at the Post Office.
Gordon Brown, prime minister of the UK, said that he wants the Post Office to play a much bigger role; bringing banking services back to the heart of people's communities.
Peter Mandelson, business secretary, said that the growing financial services at the Post Office will help secure the future of the network and give people access to a full range of banking products at an institution they trust and value.
Mr Mandelson added that at a time when some banks and financial services companies are seeking to reduce face to face contact with customers, the Post Office stands out. It offers a trusted brand, and has more branches than the high street banks combined.
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