Annette Brooke MP welcomes the launch of the Post Office® Christmas Club

12.00.00am GMT Tue 5th Feb 2008

The Post Office® launched its new Christmas Club with a bonus for members yesterday. Customers' joining the new Post Office® Christmas Club will receive a booklet of special offers worth at least £100 to redeem in selected retail partners from November 2008.

The Christmas Club is now available at all 14,000 Post Office® branches nationwide offering customers a new way to budget for Christmas 2008.

We each spend an average of £393 on Christmas presents alone, and according to research conducted by YouGov for the Post Office® many of us spend more than we can afford.

Forty three percent said they felt pressured to overspend, and 24 per cent admitted they would still be paying for Christmas at Easter.

Planning and budgeting is the solution suggested by 83 percent of the survey, but only 29 per cent agreed they set a Christmas spending budget and stuck to it.

With the Post Office® Christmas Club you can plan ahead, making pre-payments from just £5 over the counter at any Post Office® branch using a special Christmas Club payment card.

From 1 November the card is unlocked, enabling customers to use it to buy goods and services directly at retailers, or to purchase retail gift vouchers. The maximum individual payment is £500, up to a total of £1,000 per card per annum.

Each club member will receive a great bonus booklet of at least £100 in special offers with selected retail partners - a significant benefit compared to current rates available from high street savings accounts.

Post Office® marketing director Gary Hockey Morley said: "As one of the UK's most trusted brands with an unparalleled retail network, we are responding to the need for a convenient way for people to put money aside for Christmas.

"Our customers now have a way to put aside small regular amounts which ensures their cash is locked away until they need it at Christmas."

Annette Brooke MP for Mid Dorset and North Poole said: "I welcome the launch of the Christmas Club scheme by the Post Office®. Following the disastrous impact of the collapse of Farepak on a number of constituents I am pleased to see the Post Office® offering people a safe and convenient way to save money for Christmas. This is also a good opportunity to support one's local Post Office"