News and press releases

  • Post Office
    News from Royal Mail Group
    17 February 2011
    Post Office reminds customers to use or cash in £1m of unused saving stamps

•Money always belongs to the customer•Use them to pay bills or car tax in branch by end of February•New replacement Budget Card scheme availableThe Post Office is urging customers to check their drawers and purses for any unused Post Office Savings Stamps as the last date they can use them to pay for a service in a Post Office branch will be Monday 28th February 2011

•Money always belongs to the customer
•Use them to pay bills or car tax in branch by end of February
•New replacement Budget Card scheme available

The Post Office is urging customers to check their drawers and purses for any unused Post Office Savings Stamps as the last date they can use them to pay for a service in a Post Office branch will be Monday 28th February 2011. After this date the money will always belong to the customer and a full cash refund will always be available.

Savings Stamps, which are used to budget and pay for bills over the counter, ceased to be sold in May 2010 when the new Post Office Budget Card was introduced. The new Budget Card offers even greater security and convenience in budgeting for bills.

Since May 2010 Post Office teams have been advising customers that they are due to be phased out. However, the Post Office estimates that there is £1million worth of Savings Stamps still to be redeemed across the country.* It is encouraging customers to use the stamps to pay their bills this month, transfer the money onto a Post Office Budget Card or take their stamps to branches in order to receive a full refund.

After 28th February, customers will still be able to take their Savings Stamps to any Post Office branch and apply for a cash refund by handing in their stamps over the counter. A full refund will then be posted to them via a Payout letter.**

Michael Birchall from the Post Office, said: "Savings Stamps ceased to be sold in May 2010 when the new Budget Card scheme was introduced. However, any customers still in possession of Savings Stamps can be reassured that the money will always belong to them. Customers still have until the end of February to use their stamps in branch and after this date can apply for a refund at any time. We believe the majority of customers have now transferred to the new Budget Card or redeemed their stamps. Stamps are of course still currently being redeemed and there is around £1million still to be used to pay bills this month or be refunded,"

The Post Office offers a range of other products and services to help people on a budget, or those without access to bank accounts, manage their money. These include the Post Office Card Account, Post Office Christmas Club, Postal Orders and fee-free ATMs. The Post Office is the largest retail network in the UK - with 12,000 branches nationwide, it is larger than all of the UK high street banks combined and offers customers unrivalled access to their money and services.

To find out more about any Post Office service, including the new Budget Card, ask at your local branch, call 08457 22 33 44 or please visit: www.postoffice.co.uk.

Ends

For more information, please contact:

Hayley Fowell
Post Office Press Office
hayley.fowell@royalmail.com

Notes to editors
*Estimated value based on historical Post Office Saving Stamps sales records and recent redemption levels.
**Payout letter for the equivalent value will be sent 28 days after the stamps are surrendered in-branch. This can then be exchanged at the Post Office for cash (ID will be required).

www.postoffice.co.uk