The Post Office is to move into the current account market this spring, as part of plans to beef up its presence on the high street as a major financial services provider.
A new current account, which promises simplicity, transparency and good value for money, will be made available in a small number of the Post Office's network of 11,500 branches, before a widespread roll-out planned for next year.
The Post Office's new current account offering has the potential to make it much easier for customers living in rural communities to access their money, as 99.7% of people live within three miles of one of its branches.
The launch also comes at a time when plans are afoot to make it much easier for people to switch current accounts and shake up competition in the sector.
However, other than the suggestion the new current account will be easy to understand and give good value, the Post Office declined to give any further details on what its current account will look like.
It would not say if the account will pay any in-credit interest, whether it will be a paid-for "packaged" account which comes with certain perks or exactly how people will be able to access the account.
Nick Kennett, director of financial services at the Post Office, said: "We've carried out research and the findings tell us customers want simplicity, trans-parency and good value for money. We can provide this through the most con-venient and accessible retail network in the UK."
Customers can register an interest through the Post Office's website.
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