UK Post Office “remains one of the few places where customers can access a range of savings products, in-person”
UK Post Office is today announcing it has extended its financial services partnership with the Bank of Ireland UK.
Post Office and the Bank of Ireland UK will continue to provide a wide range of Savings products online and in-branch including Easy Access Cash ISAs, Junior ISAs, Instant Saver accounts and Growth Bonds. Post Office’s extensive branch network ensures customers who can’t, or prefer not to, go online can continue to access savings products on the High Street.
The Post Office’s new financial services partnership with the Bank is focused on savings and will also enable the Post Office to strike new deals in the future with other financial providers, particularly with regards to personal loans.
The Bank of Ireland and Post Office will no longer provide unsecured personal loan products and mortgages under the Post Office brand. Existing Post Office branded mortgage and personal loan customers are unaffected.
The Post Office’s 50/50 foreign exchange joint venture with the Bank of Ireland continues under the same terms and remains the largest provider of consumer foreign exchange in the UK.
Nick Read, Post Office Chief Executive, said: “I’m pleased that Post Office continues to provide a range of competitive savings products to hundreds of thousands of customers either online or crucially in-branch. Whilst bank branch closures continue, Post Office remains one of the few places where a customer who can’t or prefers not to go online can access in-person a range of savings products.”
“Our renewed partnership with the Bank of Ireland also gives us flexibility to strike new deals with other financial services providers to bring new products and services to market. Being able to offer personal loans with a provider that understands our long history and the pivotal role we play in communities and for a broad range of customers of all ages and backgrounds is important to us.”
Fenchurch Advisory Partners LLP acted as Post Office’s financial adviser for the partnership extension.