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Starting Date: 02-12-09
Closing Date: 24-02-10
The Post Office offers a wide range of financial services, and the Government believes the time is right to expand their offer. The Prime Minister announced on 29 September 2009 “I want the Post Office to play a much bigger role, bringing banking services back to the heart of people’s communities”. This consultation takes forward that commitment.
This consultation sets out what the Post Office already offers in terms of financial services; it draws comparisons with Post Banks around the world; and it sets out the Government's vision for Post Office banking and the values that should underpin it.
In addition, the consultation puts forward a number of proposals for new financial products that the Post Office could offer. These include: a Post Office current account, a Children's Savings account to encourage saving at the Post Office from an early age, new services for small businesses including a Post Office business account, and a weekly budgeting account to allow those on low incomes to take advantage of direct debits and reduced bills.
The deadline for responses to the consultation closed on the 24 February. Government will be considering the responses received and publishing its response document in due course. In the meantime, if you would like to ask the consultation team anything then you can use the contact details below.
Post Office Banking Consultation
Shareholder Executive
Department for Business, Innovation and Skills
1 Victoria Street
London
SW1H 0ET
Fax: 020 7215 5336
Email: postofficebanking@bis.gsi.gov.uk
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