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UK Post Office & Bank of Ireland linkup: Genius or madness?

  • 13-04-2013 1:49am
    #1
    phoenix999
    Banned (with Prison Access) Posts: 581 ✭✭✭


    It seems that a lot of noses are out of joint in the UK that the UK Post Office network of 11,500 branches is to partner with Bank of Ireland in offering current and savings accounts to customers.

    I would have thought any Irish bank would have instilled fear in the minds of British savers (even more so after the fiasco in Cyprus).

    So is this a good move for BOI in getting back to profitability or is the bank getting out of its depth?

    http://www.channel4.com/news/post-office-current-account-banks-money-high-street


Comments

  • #2
    petersburg2002
    Closed Accounts Posts: 346 ✭✭petersburg2002


    My sister working in London thought it was an April Fool's joke...It wasn't. Then again, plenty of UK banks had to be bailed out too.


  • #3
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Dispute what you hear in the news pretty much every major bank in the UK,US,Germany,Spain,Cyprus,etc. has been bailed out. Irish banks are the most liquid in Europe at the moment and some of the least likely to fail. I would be more worried with some of the British Banks like HBOs (bank of Scotland) which sounds like it was run like Anglo.

    The irish government only owns like 20% of Bank of Ireland shares. Bank of Ireland is highly unlikely to go under now


  • #4
    Rascasse
    Registered Users, Registered Users 2 Posts: 1,670 ✭✭✭Rascasse


    The Post Office and BoI have been partners for a good few years now. Post Office credit cards, mortgages, loans etc are all provided by BoI UK, so I guess it makes sense to take on the current account market. Their opening hours (open later than banks and open Saturdays) are a good benefit.


  • #5
    Fr_Dougal
    Registered Users, Registered Users 2 Posts: 9,166 ✭✭✭Fr_Dougal


    phoenix999 wrote: »
    It seems that a lot of noses are out of joint in the UK that the UK Post Office network of 11,500 branches is to partner with Bank of Ireland in offering current and savings accounts to customers.

    I would have thought any Irish bank would have instilled fear in the minds of British savers (even more so after the fiasco in Cyprus).

    So is this a good move for BOI in getting back to profitability or is the bank getting out of its depth?

    http://www.channel4.com/news/post-office-current-account-banks-money-high-street

    We are Germany's b1tch, we're a safe enough bet. BOI can't fart without approval of zee Germans.


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