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Call for BOI to introduce bank accounts with An Post

The Irish Postmasters’ Union has called on the Bank of Ireland to roll out bank accounts with An Post in line with a recent UK decision.

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Image: Mark Stedman/Photocall Ireland

THE IRISH POSTMASTERS’ Union (IPU) has called on the Bank of Ireland to roll out bank accounts with An Post, in line with its decision to do so in the UK.

While the IPU welcomed the announcement that BOI is to pilot a scheme in the UK, with a roll-out in 2014 where it and the Post Office will offer bank accounts to its customers, it feels the same situation should occur here.

Brian McGann, General Secretary of the IPU:

The An Post network of post offices already offers a range of banking transaction services as well as savings products, many of them tax and DIRT free. Currently some 18 per cent of people in Ireland are “unbanked” and for this group the Post Office is their supplier of first choice.

He also said there is a very high trust level with An Post and its customers.

McGann said that at a time when many financial institutions are reducing the number of branches throughout the country, there is a strong argument for entering into a joint venture with An Post and availing of the 1,100 post offices run by its members.

McGann told TheJournal.ie that the Postbank project was a very different undertaking to the pilot project, as it centred on saving money.

“We see a need in Ireland for the post office to offer more banking services,” he said. An Post currently offers banking services with AIB and Dankse Bank.

McGann said that by working with An Post, banks could reduce their own infrastructure costs, while the service would also be an alternative for people to the current banking offerings.

The IPU is due to meet with An Post and ask them to sit down with BOI to see what opportunities exist in this area. “We think it makes sense,” concluded McGann.

Read: ‘Increased transparency and flexibility’ needed by An Post>

Read: An Post benefits from the troubles in Ireland’s banks>

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