RBS and NatWest business account holders 'can access funds at the Post Office'

RBS and NatWest business account holders 'can access funds at the Post Office'

Business account customers with two major financiers can now access their finances at branches of the Post Office.

Companies with business accounts with the Royal Bank of Scotland (RBS) and NatWest will now be able to access their finances through the Post Office, it was announced yesterday (November 9th 2010).

In news that is also of note for customers eager to compare savings on current account packages with the two financiers, the government has revealed such consumers will be able to conduct their fiscal business at branches of the Post Office as part of its plans to rejuvenate the institution.

Edward Davey, minister for postal affairs and MP for Kingston and Surbiton, has spoken of the Conservative-Liberal Democrat alliance's desire to "turn the Post Office network around" as it is regarded by the coalition as a "tremendous national asset".

The administration has therefore pledged 1.34 billion worth of funding for the organisation over the next four years, with Mr Davey adding that he is "particularly pleased" with the agreement to allow RBS and NatWest business account holders to control their affairs from there.

Meanwhile, figures have shown that Legal & General is gaining more business customers.

More companies in the UK may be actively taking out business accounts following the global economic downturn, if new figures are to be believed.

According to data released today (November 9th 2010) by Legal & General, many organisations appear to be looking into the option of comparing the best savings accounts available to them.

In news that may also be of note to individuals with Legal & General ISAs, the lender has revealed that the amount being saved with it by businesses based in the UK increased by 43 per cent in the third quarter of 2010 in comparison with the corresponding period last year.

Meanwhile, the amount of cash being stored away by firms from overseas also went up by 11 per cent over the duration of the same timeframe.

Tim Breedon - chief executive of the group, which operates worldwide in nations such as the US and Germany - said: "These results demonstrate that we are successfully delivering both improvements to cash generation and growth in sales."

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