Post Office Accounts

HC Deb 27 February 2004 vol 418 c607W

Mr. Dodds

To ask the Secretary of State for Trade and Industry whether interest will be paid on Post Office accounts opened for the purpose of benefit payments under the automated credit transfer system. [156583]

Mr. Timms

I understand that interest will not be paid on Post Office card accounts. The Post Office card account is a deliberately simple financial product developed by Post Office Ltd. on behalf of Government to cater exclusively for those customers in receipt of pensions, benefits and tax credits who do not have or choose not to use a commercial bank account.