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Principality offers new Postal Account

05 October 2005
Wales' largest building society, Principality, has launched its new Postal Account this week, paying a competitive rate of 4.6 per cent.

Customers can save in the comfort of their own home since the account is maintained and administered by post.

According to Principality, by liaising with customers by post, they are able to offer more competitive rates and reach customers unable to come to their branches.

Managing director of Principality Building Society, Tracy Morshead, said: "We are constantly reviewing and updating our product range and the new Postal Account enables us to extend our presence further afield, appealing to those customers who are unable to access our branches.

"This is our first step into the direct savings market."

Applications can be made at a Principality branch, by calling the bank or downloading the form from the website.

Abbey also offers a postal account, giving a rate of 4.25 per cent gross AER and Northern Rock also offers a similar account.

Application forms for postal accounts can usually be found on the banks' websites.

To read more about Current Accounts, click here.

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