MSE News: Post Office unveils new current accounts

Former_MSE_Helen

"The Post Office is now offering day-to-day banking services after launching three new current accounts today..."

Read the full story:

Post Office unveils new current accounts



Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

reclusive46

Seems to come with a Maestro card? Are these even accepted anymore?

dr_adidas01

Another only half reported story by the MSE team, you didn't mention you can only open one in the post office branches of East Anglia.

There's no being able to open one online as of yet and you can only open it with a £100 deposit.

alanq

dr_adidas01 wrote: »

Another only half reported story by the MSE team, you didn't mention you can only open one in the post office branches of East Anglia.

There's no being able to open one online as of yet and you can only open it with a £100 deposit.

I wondered what you were on about as the link above went/goes to a Press Association report hosted by MSE that mentions in the second sentence that the accounts are being piloted in East Anglia.

Then suddenly I found it went to a half-baked MSE written report (just as you described) before going back to the one that I originally saw. I suspect that a work in progress was posted up prematurely.

innovate

People could always go to the PO website to check out what's on offer? I did just that and the answer for me is "nothing of interest to me" but it looks attractive for people who want a basic account, or people looking for a cheap-ish travel insurance/breakdown cover. Haven't checked the T&Cs of these since I am committed to Nationwide FlexPlus, which actually works out cheaper than the PO since I get 3% AER on £2.5K there. Oh, and I could actually open a FlexPlus without travelling to East Anglia.

http://www.postoffice.co.uk/current-accounts

pmduk

The absence of an unpaid item fee on the Control account will be useful for those unwilling to budget, although there is a monthly fee of £5 making it the only Basic bank account with a fee.

adamc260

I thought they were closing lots of post offices....

pmduk

adamc260 wrote: »

I thought they were closing lots of post offices....

That's the Post Office becoming more like banks!

The_pc_tech

Hmmm backed by Bank Of Ireland (UK) Plc

Last time I checked Ireland's economy wasn't doing that great.

innovate

The_pc_tech wrote: »

Hmmm backed by Bank Of Ireland (UK) Plc

Last time I checked Ireland's economy wasn't doing that great.

Ain't matter if you keep less than £85K in your current account - it comes with full FSCS protection.

If you were judging banks by the economy they are operating in, you'd have to umm about a whole lot of household names!

pmduk

For a long while the Post Office BOI accounts were only covered by the Irish compensation scheme. That has changed now though.