Market leading interest rate (1.25%)
Post Office is the largest retail network and financial services chain in the UK, with more branches than all of the UK’s banks and building societies put together. Post office claims to have over 11,500 Post Office branches nationwide, run by local people, and more than 17 million customer visits & 47 million transactions per week.
Apart from the financial services, Post Office deals in mails & retails, government services, telephones, broadband, money transfers and much more. Post office provides tax-free saving options, with easy access to your accounts. All Individual Savings Accounts (ISAs) will be provided by OneFamily, and the savings will be credited to Bank of Ireland UK.
Continue reading to find out more about the financial and postal service provider with over 370 years of service.
Post Office offers several different types of savings accounts:
Premier Cash ISA
Fixed Rate Cash ISA
Post Office offers loads of different savings accounts, so how you switch will depend on what type of account you are opening. Post Office aims to make switching as easy as possible for you, so whatever the account you can be sure the process is simple.
For an online saver, you can start an account with as little as £1, and be ready to start saving straight away. You are also able to transfer ISAs into your new account, so no need to worry when looking to switch.
You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?
You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:
Yes. Post Office offers online banking through its website, but it does not have a dedicated mobile app.
Here are some of the basic features of Post Office’s online banking service:
If you earn interest from a savings account, you need to pay tax on that interest at the same rate as the rest of your annual taxable income.
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