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Bank claim: Post Office launches current accounts

The Post Office has launched its current accounts, which will offer consumers more choice on the high street when looking for somewhere to set up their finances.

For now, it has opened accounts at 29 branches in East Anglia but says that it will be extending its network from the start of 2014 onwards.

Which? has welcomed the move as it means customers will no longer be directed to the big five banks.

Increasing high street competition is something that the government has been aiming to do, as it feels that many of the big banks are not offering customers the best deals.

It has already said that it hopes to make it easier for customers to switch accounts.

As many Post Office branches are easier to access than many bank branches, particularly for those in more remote areas, this could mean that customers will be more likely to move away from bigger banks to get a Post Office account.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801584846-ADNFCR

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