§ Malcolm BruceTo ask the Secretary of State for Trade and Industry which financial institutions have committed to providing a universal banking service through post office branches; how much each institution has committed to pay towards the cost of the Post Office card account; how much remains to be paid; and what the deadline is for payment. [137022]
§ Mr. TimmsThe financial institutions supporting universal banking are Barclays, Lloyds TSB Bank, Royal Bank of Scotland/Nat West, HSBC, Abbey National, HBOS, Alliance and Leicester, NAG, the Cooperative Bank, First Trust, the Bank of Ireland and the Nationwide Building Society. They are each making a basic bank account accessible at post offices, and together they are contributing £180 million to the costs of the Post Office card account. Individual contributions and the schedule of payments are matters of commercial confidentiality.