MSE News: Post Office to get £180 million to boost its financial services

Former_MSE_Natasha

This is the discussion thread for the following MSE News Story:

Read the full story:

Post Office to get £180 million to boost its financial services

central

Which equates to GP primary care services for 2.3 million people for a year

Sceptic001

Wow, fantastic new ideas:

Encourage people to save at the Post Office. Why not call it the Post Office Savings Bank?

Set up banking services at the Post Office. Why not call it the Girobank?

Deja vu anybody?

JoseChungsDoomsday

it has always failed me why the PO offers savings accounts backed by the Bank of Ireland when NS&I already had a strong base in the PO for years. And it's 100% protected.

It's good to see the gov't boosting the PO, in my area we don't have an atm so everyone regularly uses the counter service. Having an actual PO current account would help a lot of people.

pmduk

Lets hope they spend some of the cash on reducing queues thereby encouraging people to even enter the blessed places.

realaledrinker

Who will bail out customers when the BoI goes tit$ up & the Irish government can't honour the €100,000 compensation 'guarantee'. Another Iceland in the making.

Old_Wrinkly

Wasn't there something about the Bank of Ireland seeking a UK registration, so that they'd be covered by the FSCS for UK depositors?

twe

pmduk wrote: »

Lets hope they spend some of the cash on reducing queues thereby encouraging people to even enter the blessed places.

Well the PO encouraged that when they closed lots of Office's in the past couple of years....

123lansdowne

Good to have some positive news for a change.

However can't help a sly grin at the fact that Santander will be involved - they include Alliance and Leicester who were allowed to take over the excellent Girobank .....the Post Office bank.

As for the queues and branch closures - it's down to all of us to "use them or lose them".

Like all businesses they have to budget and keep a very close eye on the bottom line. They cannot man PO Counters if the customers are not there! It's not a charity.

Plus when they do make a profit the Government takes it's share (remember Maggie she took a huge slice of very healthy PO profits to fund the sale of BT, British Gas etc.,in the 80's). If more people used their Post Offices on a regular basis and not just at Christmas, they could be better staffed.

:A