Customers can save for Christmas with the Post Office
November 25, 2007 by admin
Filed under News, News-Banking
Over the last few years the Post Office in the UK has diversified into a variety of different areas, and in a recent announced the Post Office has stated that consumers will be able to start saving for Christmas 2008 with a Christmas savings club that is to be launched by the Post Office service.
The service will allow consumers to deposit their cash into any of the fourteen thousand branches of the Post Office, but they will not be able to access the money again until November of next year.
Once they have saved the money consumers will be able to spend it either by using vouchers or via a pre-paid debit card that will be accepted by over two hundred retailers. The account provided by the post office will be protected, and will only be accessible by the customer. Those wishing to save through this scheme will receive a Christmas Club card, which can be used to make deposits at Post Office counters.
There will be a minimum deposit level of £5.00 and a maximum level of £500. Savers will be able to put away a maximum amount of £1000 per club card. According to officials from the Post Office service there is a gap in the market for this type of scheme since the collapse of Farepak last year. Members that use this scheme will be able to access their funds from 1st November 2008.
One Post Office official stated: “As one of the UK’s most trusted brands with an unparalleled retail network, we are responding to the need for a safe and convenient way for people to put money aside for Christmas.”
Tom Smith
25th November 2007
