Post Office current accounts
The Post Office is to offer current accounts in the UK. Initially they will be made available in a small number of branches, before a wider roll-out next year.
Post Office to shake up current account market
News that the Post Office is to offer current accounts comes at a time when plans are afoot to make it much easier for people to switch current accounts and shake up competition in the sector.
In January, the Office of Fair Trading said the market was dominated Lloyds, RBS, Barclays and HSBC who held around 75 percent of the market.
This resulted in a market which lacked "competition" and "dynamism" from providers, said a report.
The Post Office has not as yet revealed details of what its current account will offer, but promised "simplicity, transparency and good value for money".
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