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  • FIRST POST
    • welshmike
    • By welshmike 12th Oct 17, 10:55 AM
    • 87Posts
    • 23Thanks
    welshmike
    Post Office* Online Saver account - useless
    • #1
    • 12th Oct 17, 10:55 AM
    Post Office* Online Saver account - useless 12th Oct 17 at 10:55 AM
    I spent time today attempting to pay into my new account with the above.
    System was down then server timed me out. Phone line on hold with useless noisy recording. Total incompetence just for 1.27%.
Page 1
    • surreysaver
    • By surreysaver 13th Oct 17, 7:40 PM
    • 2,342 Posts
    • 1,316 Thanks
    surreysaver
    • #2
    • 13th Oct 17, 7:40 PM
    • #2
    • 13th Oct 17, 7:40 PM
    They're not very good. I've got two online accounts with them, although I can pay money in I can't take money out. After half an hour on the phone, one account got fixed. The other one didn't, so I rang back, and after another 20 minutes on the phone the operator refused to believe there was anything wrong with the other account and hung up on me
    I consider myself to be a male feminist. Is that allowed?
    • chockydavid1983
    • By chockydavid1983 13th Oct 17, 7:57 PM
    • 480 Posts
    • 287 Thanks
    chockydavid1983
    • #3
    • 13th Oct 17, 7:57 PM
    • #3
    • 13th Oct 17, 7:57 PM
    I see they haven't got any better in the years since I last had an account with them! :-)
    • Alexland
    • By Alexland 13th Oct 17, 8:50 PM
    • 731 Posts
    • 459 Thanks
    Alexland
    • #4
    • 13th Oct 17, 8:50 PM
    • #4
    • 13th Oct 17, 8:50 PM
    It's a white label product from Bank of Ireland.
    • bigadaj
    • By bigadaj 14th Oct 17, 6:46 AM
    • 10,804 Posts
    • 7,098 Thanks
    bigadaj
    • #5
    • 14th Oct 17, 6:46 AM
    • #5
    • 14th Oct 17, 6:46 AM
    It's a white label product from Bank of Ireland.
    Originally posted by Alexland
    I think a brown label might be more appropriate.
    • Stubod
    • By Stubod 14th Oct 17, 9:01 AM
    • 433 Posts
    • 275 Thanks
    Stubod
    • #6
    • 14th Oct 17, 9:01 AM
    • #6
    • 14th Oct 17, 9:01 AM
    ..I had similar problems with the post office "accounts" a few years ago (truly appalling customer service) and eventually managed to get all my money out and put it somewhere more reliable. Can't believe they are still having such basic issues.
    • spionfox
    • By spionfox 14th Oct 17, 9:22 AM
    • 2 Posts
    • 0 Thanks
    spionfox
    • #7
    • 14th Oct 17, 9:22 AM
    • #7
    • 14th Oct 17, 9:22 AM
    Opened a Post Office on-line savings account Thursday evening and was impressed at how quickly it was set up. Then I transferred a small sum via FasterPayments and it took around two hours to show. No problem, it can take up to two hours with FasterPayments. Last night I transferred a very much larger sum via FasterPayments and now, ten hours later it is still not showing. Just rung them (finally got through just as the awful muzak was threatening to make my head explode) to be told that it can take three working days for the funds to arrive.

    Not happy and as soon as the funds show I will be closing that account. As somebody else said, it is just not worth it for 1.27%.
    • do163600
    • By do163600 14th Oct 17, 10:10 AM
    • 30 Posts
    • 29 Thanks
    do163600
    • #8
    • 14th Oct 17, 10:10 AM
    • #8
    • 14th Oct 17, 10:10 AM
    I had a similar experience recently, trying to move a large sum out of a PO account. The three working days had a weekend in the middle of them - not impressed.

    What kind of system are they using, when everyone else seems to be able to do immediate transfers?
    • djpailo
    • By djpailo 14th Oct 17, 11:17 AM
    • 428 Posts
    • 143 Thanks
    djpailo
    • #9
    • 14th Oct 17, 11:17 AM
    • #9
    • 14th Oct 17, 11:17 AM
    I thought the rules for faster payments were buy the end of the next working day?

    As a minimum, all financial institutions in the UK must abide by the Payment Services Directive (PSD) - this states that any payments made by mobile, internet or phone banking (including standing orders) must arrive by the end of the following business day at the latest.

    The law also says the beneficiary bank must make funds available to their customer as soon as they receive the instruction (noting that some institutions do not operate on weekends or public holidays).
    I guess post office does not come under financial institution?
    • eskbanker
    • By eskbanker 14th Oct 17, 11:20 AM
    • 5,886 Posts
    • 5,844 Thanks
    eskbanker
    I guess post office does not come under financial institution?
    Originally posted by djpailo
    But since their financial services are actually provided by Bank of Ireland UK (not the Irish parent), they definitely do need to comply with all UK banking regulations....
    • coyrls
    • By coyrls 14th Oct 17, 11:34 AM
    • 922 Posts
    • 966 Thanks
    coyrls
    But since their financial services are actually provided by Bank of Ireland UK (not the Irish parent), they definitely do need to comply with all UK banking regulations....
    Originally posted by eskbanker
    All my withdrawals from my PO Savings Acount arrived the next working day. I just moved my account at the old rate to a new account at the new rate and the money was moved instantly and the old account closed. So I have no complaints so far.
    • Peelerfart
    • By Peelerfart 15th Oct 17, 8:44 PM
    • 1,837 Posts
    • 1,618 Thanks
    Peelerfart
    And I had no trouble with atom! Just put me right off opening an account with these guy's.
    Space available for rent
    • LHZ
    • By LHZ 16th Oct 17, 2:20 PM
    • 18 Posts
    • 4 Thanks
    LHZ
    WHAT a fiasco. I opened a Post Office online saver account on Tuesday then I tried to transfer a large opening balance from my 123 Santander account using the 'transfer via nominated account' function on the PO website. I then realised that it said it would take 3 - 5 working days to transfer. Sod that I thought, I'll cancel the transfer and do it via BACS so I contacted Post Office and spoke to someone in their Belfast offices. Their systems were down so they couldn't help. I rang again the next day and I managed to speak to someone who said that I needed to talk to the nominated account (Santander) to get the transfer stopped.

    I spoke to Santander and they said they couldn't see any reference to a pending payment or a direct bank transfer. So back to Post Office again and today it became apparent that the 'transfer from nominated account' facility involves Post Office setting up a one off direct debit mandate that wouldn't reach my PO savings account until 23rd October - that would be over 10 days since I made the transfer!!!! I asked the Post Office representative for his name and he HUNG UP on me.

    I then contacted Santander with the knowledge that we were looking for a direct debit mandate and they were then able to find it and cancel it for me. I then transferred the initial funds across. I've made three transfers into the PO saving account now and every one of those has been delayed. It seems to take up to 2 hours for the payment transfer to show which when you are transferring relatively large sums can be somewhat disconcerting. Poor show so far.
    • Xenon
    • By Xenon 16th Oct 17, 5:46 PM
    • 56 Posts
    • 98 Thanks
    Xenon
    I was looking at this account but now having second thoughts.
    • eskbanker
    • By eskbanker 16th Oct 17, 6:31 PM
    • 5,886 Posts
    • 5,844 Thanks
    eskbanker
    I've made three transfers into the PO saving account now and every one of those has been delayed. It seems to take up to 2 hours for the payment transfer to show which when you are transferring relatively large sums can be somewhat disconcerting.
    Originally posted by LHZ
    I'd see your other complaints as justified but not this one - the mandated service level for inter-bank Faster Payments (it's not BACS for this btw) is receipt by the end of the next working day! Yes, it's often quicker and in some cases can be practically instantaneous (especially between institutions who are direct participants, see http://www.fasterpayments.org.uk/about-us/current-participants), but if you feel that two hours is unacceptable then you probably ought to lower your expectations....
    • spionfox
    • By spionfox 17th Oct 17, 7:04 AM
    • 2 Posts
    • 0 Thanks
    spionfox
    My own fault as it is in the T&C's, but just a heads up that you have to wait 8 working days after the account is opened to withdraw anything.
    • Tiggywood
    • By Tiggywood 17th Oct 17, 10:01 AM
    • 32 Posts
    • 12 Thanks
    Tiggywood
    Agree it's useless
    Been trying for a week to set up new account as want to transfer from existing account. It's such an archaic system, that it logs me out of my account and I have to enter all my personal details again, only to be told every time that the system is down and to try again in a few hours. Called them and they told me the system had beeen 'down' for a while, but no idea when it would be 'up' again. Well the 'system' can't be down as others seem to be able to get the account and I can log in to my existing account - which by the way is 'clunky'. Not worth the hassle and I'll be looking elsewhere.
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