MSE News: Post Office unveils new current accounts

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

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  • reclusive46
    reclusive46 Posts: 2,698 Forumite
    Seems to come with a Maestro card? Are these even accepted anymore?
  • dr_adidas01
    dr_adidas01 Posts: 2,136 Forumite
    Photogenic Name Dropper First Anniversary Combo Breaker
    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.
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • alanq
    alanq Posts: 4,216 Forumite
    Combo Breaker First Post
    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
    innovate Posts: 16,217 Forumite
    Combo Breaker First Post
    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
    pmduk Posts: 10,655 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    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
    adamc260 Posts: 2,055 Forumite
    I thought they were closing lots of post offices....
  • pmduk
    pmduk Posts: 10,655 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    adamc260 wrote: »
    I thought they were closing lots of post offices....

    That's the Post Office becoming more like banks!
  • The_pc_tech
    The_pc_tech Posts: 422 Forumite
    First Anniversary First Post Combo Breaker
    Hmmm backed by Bank Of Ireland (UK) Plc

    Last time I checked Ireland's economy wasn't doing that great.
    Interests: PCs. servers, networks, mobiles and music (esp. trance)
  • innovate
    innovate Posts: 16,217 Forumite
    Combo Breaker First Post
    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
    pmduk Posts: 10,655 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    For a long while the Post Office BOI accounts were only covered by the Irish compensation scheme. That has changed now though.
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