Post Office Financial Services welcomes millionth customer

Post Office Financial Services – a joint venture with Bank of Ireland - confirmed its position as the fastest growing financial services provider in the UK as it welcomed its millionth customer, just over three years since launch.

Post Office Managing Director, Alan Cook said: “Post Office Financial Services entered the market with the aim of challenging what other financial services providers were offering, across all products: from car insurance to savings accounts and credit cards. Gaining one million customers in approximately 1,000 days confirms that we were right - people want easy to understand, good value products.”

The outstanding growth of Post Office Financial Services:

Post Office sells one in 50 of all car insurance policies in the UK
One in every 25 credit cards issued last year was from Post Office
£2 billion has been invested in the Post Office’s savings products
One in every 200 homes in the UK is insured with the Post Office

This success builds on the Post Office’s position as the largest independent provider of travel insurance in the UK.

Post Office Financial Services was launched as a joint venture with Bank of Ireland in March 2004.

Alan Cook continued, “This is a real achievement for the business against the backdrop of the challenges we are facing. The Post Office’s entry into financial services is vital to the bigger picture of providing products and services that will help create a sustainable Post Office network.”

All of Post Office’s financial products are available by telephone and online. Information is available at all 14,000 UK Post Office branches – more than all of the UK banks and building societies put together.