The Post Office and Bank of Ireland in talks over new deposit account
The Post Office is in talks with the Bank of Ireland to offer a current account that would give customers an unlimited guarantee on deposits
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Post Office Card contract renewed by government (UK)
It has been announced that there will be no change to the running of The Post Office Card, which distributes benefits to 4.3 million claimants.
Read MoreUK Post Office invited to bid for role in ID card process
Post Office UK is to be invited by government to play a pivotal role in the enrolment process for identity cards.
Read More3,000 more Post Offices face axe over Royal Mail government contract
Gordon Brown has been warned at least 3,000 more post offices may shut if Royal Mail loses a vital GBP 200million Government contract.
It is feared a new five-year contract to run the post office card account may be taken away from Royal Mail and awarded to rival bidder PayPoint.
George Thomson, general secretary of the National Federation of Sub-Postmasters, has written to Mr Brown to warn that losing the contract will be a disaster for his members, who get up to 20 per cent of their income from the card.
And he also predicted up to 3,000 post offices may be forced to shut – on top of the 2,500 already being axed under streamlining plans.
Around GBP 2 billion of that money is then spent in stores attached to post offices.
The federation is traditionally a very moderate organisation which supported the current closure programme because it agreed there was not enough work to support the existing of 12,000 post offices.
But Mr Thomson says the prospect of losing another one in four branches would be devastating. It would mean the elderly those on benefits having to travel long distances to get their money.
Mr Thomson said the public will see the decision on who gets the card account as a “test of the Government’s faith” in the future of our post offices.
The decision on the contract will be announced in the next few weeks.
Alliance & Leicester Commercial Bank partners with Post Office UK
Alliance & Leicester Commercial Bank has teamed up with Post Office Limited to launch a new scheme for small businesses.
Under the new agreement, Post Office branches will be able to introduce a range of Alliance & Leicester business current accounts to small business customers.
The bank noted that the launch follows a successful pilot which was carried out with the National Federation of Sub Postmasters over a three-month period at 41 Post Offices across the UK.
Alliance & Leicester said that the customers of the bank already benefit from being able to carry out their day-to-day banking transactions at any of the UK’s network of Post Offices. Business customers are able to pay in or withdraw cash and check their account balance and deposit checks over the counter, as well as receive a change giving service. The new agreement further strengthens and extends Alliance & Leicester Commercial Bank’s support for the Post Office network, the bank added.
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