Customers will soon be able to do their day-to-day banking with the Post Office, after it announced plans to launch its own current account.
The move will be the Post Office’s first foray in recent years into the current account market (see our Best Bank Accounts guide for the top deals), although it already offers credit cards, saving accounts, mortgages and insurance.
The new account will be available this spring in a small number of branches, before a wider roll-out takes place in 2014.
The Post Office, which is teaming up with Bank of Ireland UK to launch the account, hasn’t released any further details, including when exactly the new account will be launched, but says more information will be announced in the coming weeks.
Last October, M&S Bank launched its first current account (see the M&S Bank reveals current account MSE News story), while last month, Nationwide revamped its FlexDirect current account to offer an interest-free overdraft for a year, and 5% in-credit interest on balances up to £2,500 for the same period (see the Nationwide current account revamp MSE News story).