Post Office awarded card account contract

www.moneynews.co.uk > General finance > Post Office awarded card account contract

Post Office awarded card account contract

Thu 13th Nov 2008

Post Office has been awarded the contract to continue providing card accounts, the Department for Work and Pensions (DWP) said today.

Originally the contract was put out to competitive tender but the DWP said it had cancelled the process in the interests of maintaining a viable network of post offices.

Post Office has therefore been offered a new contract which will run from March 2010 to March 2015, with the possibility of an extension afterwards.

James Purnell, the work and pensions secretary, said that the Post Office was a national institution and the decision was the right one for customers, as well as for the company

He said: "Global economic events have made people […] more concerned about financial transactions.

"The Post Office is a trusted brand and is seen as a safe, secure and reliable provider of services in these turbulent times."

Post Office branches have been closing throughout 2008, despite popular protests.

Being awarded the card account contract gives the Post Office an additional source of income, which could stem the tide of closures.

Click here for more general finance news

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued

Related News : Credit cards
	Brits spent less in the run-up to Christmas 2011
	Credit card spending fell in 2011
	Credit cards 'can be a useful budgeting tool'
	Credit card usage 'to rise this month'
	New measures to help Brits with finances
	Credit card spending 'less prolific in the last 12 months'
	AA Launches new reward credit card
	Borrowings 'still need to be repaid' during a gap year
	Clear information in credit agreements called for
	Brits 'focusing on zero per cent cards'

Related News : Post Office
	Saga extends travel insurance policy to cover holidays at home
	Leeds Building Society announces further rate reductions
	Would-be homeowners think they'll never own a house, Post Office claims
	Lower age of travellers increases need for insurance, claims Post Office
	Post Office notes popularity of shared fixed rate mortgages
	Post Office high interest savings account offers alternative to high street banks
	Post Office Travel Money says people are losing out in airports
	Check your licence, says Post Office Motorcycle Insurance
	Post Office Reward Saver account launched
	Post Office Insurance urges people to check policy after purchases