Post Office customers cash in on Christmas Club

From Saturday (1 November), thousands of people who have been putting money away all year with the Post Office Christmas Club will be able to reap the benefits of Christmas budgeting as their club cards are unlocked for use at thousands of UK retail outlets.

And as the credit crunch continues to bite, savvy customers participating in the scheme will get an early Christmas gift in the form of a £10 bonus on their card, plus more than £100 in shopping discounts and offers with top high street retailers such as Debenhams, Woolworths, Boots and Halfords.

With one in five people (19 per cent) admitting to getting into debt over Christmas, the Post Office Christmas Club provides a convenient way to budget and help ease the stresses for the quarter of people (25 per cent) across the UK who worry about how they will find the cash to pay for Christmas celebrations and gifts.

Post Office Christmas Club manager Rob Scott, said: "We've tried to make it as easy as possible for Club members to spend their money; whether they want to buy their Christmas turkey, shop for gifts or decorate the tree, our scheme offers access to top high street brands covering a range of products and services.

"The Post Office understands the financial pressures facing many people right now so we are very pleased to give each member even greater spending power with a £10 bonus and a booklet containing over £100 in special discounts and offers.

"For those already thinking about next year, our Christmas Club scheme is really easy to use, allowing people to put aside small sums of cash throughout the year to help avoid the stresses of getting into debt through lack of cash to spend at Christmas."

The Post Office Christmas Club was launched in February 2008 to fill a gap identified by HM Treasury's Review of Christmas Saving Schemes by Brian Pomeroy, Chairman of the Financial Inclusion Taskforce, which was carried out in the wake of the Farepak collapse.

The Post Office Christmas Club is fully endorsed by the Christmas Pre-Payment Association (CPA). Suzy Hall, co-ordinator of the Unfairpak campaign and CPA director, said: "Christmas is a major financial commitment for us all. It's two years this month since Farepak collapsed and it's really positive to see how much progress has been made in providing people with easy and trusted alternatives."

"The Post Office Christmas Club offers people convenient access to a scheme which offers many easy spending options."

The Christmas Club is available at all Post Office branches, with customers able to make payments of £5 and above over the counter. The money on the card cannot be accessed until 1 November, when it can then be used over a three month period, until 31 January.

The Post Office Christmas Club card can be used in two ways:

Club cards are accepted at thousands of retail outlets, offering members access to a wide range of products and services including food and wine, fashion and health and beauty products. High Street names include Argos, Debenhams, Boots, Woolworths and Sainsbury's.

Club members can redeem the money on their cards against One4All vouchers available from all Post Office branches. One4All gift vouchers can be used in hundreds more outlets across the UK including River Island, Mothercare, Comet and B&Q.

For more information on the Post Office Christmas Club, visit postoffice.co.uk