Another one bites the dust . . . . Postbank to close by the end of the year

sitstill · 26-02-2010 05:26PM #1

From RTE.ie:

Postbank, the bank jointly owned by An Post and French bank BNP Paribas, has said it plans to wind down by the end of the year.

In a statement, the bank said the bank would continue until the end of 2010, but not beyond then. It will not be accepting new banking customers from Monday.

It said customers did not need to take any action at the moment. Postbank has said it will be writing to its 170,000 customers in the coming weeks. Deposits will continue to be covered by the Government's guarantee scheme.

Postbank employs 260 people, but says it hopes a 'significant proportion' of these can be saved, as it hopes some of its financial products could be developed further.

It operates banking, savings and investments, and insurance services in around 1,000 post offices across the country.

Postbank chairman Thierry Schuman said a number of factors led to the decision to close. These included the unprecedented difficulties in the financial services sector and the intense competition for savings in Ireland. He also said the bank's shareholders could not see any sign of profitability in the current circumstances.

crossmolinalad · 26-02-2010 06:24PM

**** its the only bank here within 5 mins drive
i specally opend this account so i could put my social welfaire payments i got in the same post office on my account
Now i have to go back driving almost 3/4 hour to get the nearest bank
hope an post will take over this service

lotsofthegreen · 26-02-2010 06:37PM

crossmolinalad wrote: »

**** its the only bank here within 5 mins drive
i specally opend this account so i could put my social welfaire payments i got in the same post office on my account
Now i have to go back driving almost 3/4 hour to get the nearest bank
hope an post will take over this service

they won't , postbank = an post. if they wanted they would have bought out their partner in it

u can do alot of your AIB BANKING AT THE POST OFFICE with your laser card - lodge and withdraw

pog it · 26-02-2010 07:19PM

Called them two months ago to get info for my father who was really interested in leaving Bank of Ireland and moving to them and as they didn't offer chequebooks and this was a priority for him he couldn't go with them.
The girl I spoke to was quite dim I have to say. She 'explained' that banks in general are trying to phase out chequebooks completely..
DUH.. (Why do people give crap excuses/explanations that everybody in the country already knows? :mad:)
So I said that was a shame, and that we couldn't precede with opening account with them and I said that maybe they should reconsider if they are losing customers over this..
Of course the response was indifferent.

And now they are to close up shop. Very disappointing but not surprising if this is the customer service people were receiving. I bet if this person was to lose their job they will be complaining themselves then :rolleyes:

Dempo1 · 27-02-2010 01:54PM

Sad to hear of the demise of Post Bank, an excellent company which made the lives of many so much easier by way of access through the post office network. I guess its a further indictment of how fragile our banking system is. Where's it going to end. NAMA next, not a hope of Banks beginning to lend in the near future.

pog it · 27-02-2010 08:15PM

Ya got to hand it to AIB and the BOI and the Developers though.

Hip Hip..

Toots · 27-02-2010 10:00PM

Pog it, please read the charter before posting. If you have nothing useful to contribute, don't bother posting.

**Timbuk2** · 27-02-2010 10:26PM

What happens if we have money in our Postbank accounts? Should we transfer it all into another bank account, or wait for Postbank to contact us?

Toots · 27-02-2010 10:46PM

From what I've heard on the news, they will be contacting their customers shortly to advise them of other options.

TBH, I hadn't heard great things about their current accounts, but I'm surprised they're not continuing with their savings accounts, from what I've seen they seemed very competitive.

crossmolinalad · 28-02-2010 09:08AM

pog it wrote: »

Called them two months ago to get info for my father who was really interested in leaving Bank of Ireland and moving to them and as they didn't offer chequebooks and this was a priority for him he couldn't go with them.
The girl I spoke to was quite dim I have to say. She 'explained' that banks in general are trying to phase out chequebooks completely..
DUH.. (Why do people give crap excuses/explanations that everybody in the country already knows? :mad:)
So I said that was a shame, and that we couldn't precede with opening account with them and I said that maybe they should reconsider if they are losing customers over this..
:rolleyes:

Cheques who want them in those times
Not me and most of the shops eighter
They paid me twice in the past with bounced ones
u never get it
Read somewhere a couple of months ago that all the banks will stop somwhere in 2012 with al the cheques
England does in 2018

But back to postbank it had the best working internet banking system
It was great i could do my banking in the little corner shop just 5 mins walk from my home
Did the banking with them for 2 years now and stay there to the end
After that i will see what to do but ill never ever going back to aib or boi

Another one bites the dust . . . . Postbank to close by the end of the year

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