Post Office Money will combine mortgage, current account, savings, travel insurance and foreign currency products, alongside new products over the coming months.
The Post Office said it plans to continue its joint venture with the Bank of Ireland, and recently extended opening hours and opened 2,500 branches on Sundays.
Recent Post Office Money research found that one in three (30%) of the population look for convenient branch locations or a high street presence when choosing a financial provider. 28% said online access is essential, 16% say they want to speak to someone at least once a month, and nearly one in five people (19%) felt they would prefer to speak to someone when it comes to significant financial decisions such as taking out a mortgage.
In 2015, 18% said they plan to move, buy their own home or re-finance their mortgage, while one in eight (13%) say they will consider switching current account provider.
Nick Kennett, Director of Financial Services at Post Office Money, said:
“Consumers want a choice about how they manage their money; at Post Office Money our customers have access to an unrivalled network as well as online and phone, combined with multi-award winning products. We have been listening to our customers and know that people are facing some big financial decisions, and through the new Post Office Money we want to become their first choice when thinking about a mortgage, credit card or a safe haven for their savings."
