Apologies in advance for an uncharacteristic short post. Most of my energies this week have gone into pulling together the fourth quarterly Monevator Private Investor Market Roundup. ( )
Today BBC radio along with their web offering have felt the need to present us with the “news” that the Post Office is to offer current accounts. I know it’s all very exciting (yawn!) but please stay with me a little longer before you run off and sign up (not!). This apparently is all in response to the regulator claiming that the High Street today offers little choice for consumers. Details are scant at the moment but I’d be willing to bet it will be pretty much more of the same with an interest rate on offer of between 0% and 0.1% AER. I can’t see it correcting the “lack of dynamism” currently on offer from Banks such as Lloyds, RBS, Barclays and HSBC given that it will just be another offering from yet another Bank, albeit from another High Street. Am I the only one who doesn’t see this as news but instead just a thinly veiled advertisement for a new current account being offered by the Bank of Ireland?
Finally, for those of you who read posts fairly soon after publication I’d encourage you to head back to the comments section of my Q1 2013 Review. ( ) We’ve had some readers de-lurk and share some real wisdom on what I’ve been rambling about for the last 3.5 years. Thanks Vanessa and Fatlaksh.
Absolutely agree ... after all, the Government isn't going to do anything that could adversely affect the private banks (not with all the tax payers money tied up in key players).
ReplyDeleteApologies ... but I'm senile enough to have seen it all before - there was Girobank, TSB, and I'm sure those even older will remember others!