Post Office Money

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Post Office Money
Trading name
Industry Financial Services
Headquarters London
Area served
United Kingdom
Products Credit cards
Current accounts
Personal loans
Owner HM Government
Parent Postal Services Holding Company Limited

Post Office Money is a financial services brand operated by Post Office Ltd which provides credit cards, current accounts, insurance products, mortgages and personal loans to customers in the United Kingdom through Post Office branches, the internet and telephone.[1]

Post Office Money was launched in 2015 to provide an umbrella brand for all financial services provided through Post Office Ltd. Most Post Office Money branded products are provided by Bank of Ireland (UK) plc with Post Office Ltd acting as an appointed representative and credit broker.

Products and services[edit]

Current accounts[edit]

In 2013, Post Office Ltd introduced a range of current accounts on a trial basis, initially at a small number of branches in East Anglia. This trial was extended to over 200 branches across the UK in 2014. Three accounts are offered, a standard account with optional overdraft, a basic bank account and a packaged account offering travel insurance and breakdown cover.[2] Although these accounts can only be opened at participating branches, they can be managed across the whole network and through online, telephone and mobile banking systems. As in the case of most other Post Office branded financial products, Post Office current accounts are provided by Bank of Ireland (UK) plc with Post Office Ltd acting as an appointed representative.

Post Office Card Account[edit]

The Post Office Card Account (POCA) is a cash handling account allowing customers to receive benefit payments. The Card Account cannot be accessed anywhere other than a Post Office Counter or ATM at a Post Office. These accounts can only receive Department for Work and Pensions benefit payments and HMRC Tax Credits and Child Benefit payments. Housing Benefit from a local authority for example, must be paid elsewhere. If the account remains dormant for one year, it is closed. These bank accounts are run by J.P. Morgan Europe Ltd on behalf of the Post Office. To open an account, you must be in receipt of benefits and a referral is made via Jobcentre Plus.

Prepaid cards[edit]

The Post Office Money Card was a prepaid MasterCard that was available in Pound Sterling and was issued by R. Raphael & Sons plc. This card was withdrawn in January 2017. [3] A Post Office Travel Money Card in a range of foreign currencies is also available, issued by Clydesdale Bank plc.[4]


The Post Office had long been an agent for National Savings and Investments (NS&I), which was originally the Post Office Savings Bank but is now a wholly separate institution. From November 2011, only Premium Bonds could be bought in Post Offices, but the 156-year relationship ended in August 2015 when Premium Bonds became the final NS&I product to be withdrawn from sale at Post Office counters.[5]

Post Office Money now offers its own range of savings products, which are sometimes in competition with those offered by NS&I. The most recently introduced, in September 2008, is a Post Office ISA.[6] Also on offer is an instant access account (Instant Saver), while issues of two fixed term investments (Five Year Saver and Growth Bond) are periodically available. The Post Office are also a provider for the Child Trust Fund.


Post Office Money offers mortgages and also offers personal loans, although the latter are now marketed purely through the company's website and not through the branch network. The first loans, provided by Bank of Ireland, launched in 2004.[7]

A Post Office branded credit card has also been introduced, again issued by Bank of Ireland UK.[8]


Post Office Money provides a number of branded insurance products for cars, vans and motorbikes; home insurance (buildings and/or contents); pet insurance and travel insurance. Life insurance, over 50s life cover and lifestyle protection insurance are also available.

See also[edit]


External links[edit]