Read the following article from the Irish Independent about An Post’s financial services. Answer the accompanying questions.
AN POST PLANS TO TAKE ON BANKS WITH
NEW CURRENT ACCOUNTS By Charlie Weston
Post offices will take on the banks with the launch of a new current account.
The move means that more than 1,000 post offices nationwide are set to challenge the main banks by offering better-value payment accounts…
An Post aims to offer debit cards, full access to ATMs and point-of-sale facilities. It is also planning to allow its new current account customers to set up standing orders and direct debits from the new account. Also planned are budgeting facilities as part of the account, allowing people to spread out bills over a year.
In keeping with moves to electronic banking, An Post’s payment account would be accessible over the internet, by phone and by using an app.
1. What financial services will An Post’s new current account offer to customers?
2. In what ways will customers be able to access their An Post current accounts?
The move comes after uproar following Bank of Ireland’s decision to limit cash withdrawals and lodgements in its 250 branches.
But An Post has no plans to restrict cash lodgements and withdrawals at post office counters. This could make the new payment account attractive to those uncomfortable with self-service banking…
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Self-service banking is when a customer of a financial institution carries out a transaction themselves, rather than instructing banking staff to do so. For example, using an ATM to withdraw cash or transferring money into another account online.
3. Why do you think some customers might be ‘uncomfortable’ with self-service banking?
