BoI UK and Post Office launch current account

Bank of Ireland has joined forces with one of the UK’s most trusted institutions, the Post Office, to launch a new current account.

A spokesperson for Bank Of Ireland UK said that the Post Office is the fastest growing financial service provider in England.

“Bank of Ireland UK has been the Post Office’s exclusive partner since 2004 for the provision of financial products and services.

“The partners’ venture has become one of the UK’s fastest growing financial service providers, with over 2.8m customers, a savings book of more than £17bn (€20bn), a mortgages book of circa £3bn and a comprehensive range of products, including savings accounts, mortgages, motor, home and life insurance, credit cards, a fleet of 2,100 ATMs and is the UK market leader in foreign exchange products,” she said.

Although the Post Office and BoI UK had already been partners, a current account allows the Post Office to provide a full range of banking facilities through the Post Office’s branch network.

The new current account will be rolled out on a trial basis this year before a wider roll-out planned for 2014, making the Post Office one of the key financial players on the high street.

Director of financial services at the Post Office, Nick Kennett, said that their customers wanted simplicity and convenience from their current account.

“We’ve carried out extensive research into the current account market and the findings tell us that customers want simplicity, transparency and good value for money. With over 11,500 branches, which is more than all the UK banks combined, we can provide this through the most convenient and accessible retail network in the UK.”