Post Office and AA credit card accounts transferred to Norwegian company
Thousands of Post Office and AA credit cardholders are becoming customers of a little-known Norwegian fintech firm, Jaja Finance, after it bought Bank of Ireland’s credit card business.
Following a £530m deal agreed last year, customers who signed up with the Post Office or the AA will see their accounts transferred to the Norwegian company.
From the start of October, Jaja will begin sending out replacement credit cards bearing the new company’s brand, and the existing cards will cease to work 30 days later.
The Post Office saidterms and conditions will remain the same on the accounts.
Many customers signed up for the credit card because it offered fee-free purchases abroad, plus 0% commission on the Post Office’s foreign exchange service.
Statement and payment dates, the card’s pin, and credit limits will all remain unchanged, the Bank of Ireland said on Thursday. Customers will also still be able to pay their credit card bill at the Post Office.
Jaja, which was started by three Norwegian entrepreneurs and is run by an ex-managing director of Barclaycard, is promising an app that will allow customers to control their bills in real time.
However, customers who wish to operate their card as they do now can continue to do so, it said.
Customers can continue to opt to receive paper bills. The customer call centre numbers will remain the same, and those customers who pay their bill by direct debit do not have to take any action, as the payment will be ported over behind the scenes.
The only significant change in the short term is that the new cards operate on the Visa platform whereas the outgoing Post Office cards were Mastercard.
The Bank of Ireland refused to say how many card accounts are being switched over.
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