Banking for all through the Post Office

Almost half of the UK’s poorest people distrust high street banks, leading to calls for a state-led offering.

A group has called on the government to help almost one million of the UK’s poorest people by creating fair and easy to use banking through the Post Office network.

Research by Consumer Focus shows that 71 per cent of the financially excluded - those with either no bank account or just a Post Office Card Account - would embrace a bank account delivered by the Post Office.

Andy Burrows, postal expert, Consumer Focus, says there are millions of consumers missing out on basic banking services, such as being able to receive wages payment, ATM access and creating direct debits. “Many on low incomes feel poorly served by the banks, but trust the Post Office. The Post Office network is well placed to offer, not just this targeted account, but a range of neighbourhood banking products with wider appeal.”

Gordon Brown announced plans to extend banking services through the Post Office branch network last September, and the consultation period concludes at the end of February.

Source:


Share it with your friends