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Anyone else had problems opening a Post Office Growth Bond?
spiddy100
Posts: 582 Forumite
I visited my local Post Office to open a Growth bond last month, handed over my cheque for £10000, they checked the form and all seemed good.
I noticed that the cheque had been cashed but hadn't received a letter from them so it was on my 'to do' list for next week to give them a call and chase up my account number etc.
This morning I have received a letter from them saying that they were not going to process my application as they had not been able to confirm my identity and address :mad: Apparently they had "tried to contact [me] by phone and post without success".
I phoned the Customer Service Centre and tried to explain why I was so unhappy, i.e:
- I had applied for the bond in person and had ID with me but was not asked to provide it
- I have not received any letters or phone calls from them
- They have had my money for a month, probably earning them a nice slice of interest
His response:
- At one point he told me that I should have got the PO to take copies of my ID and sent it in with my application, he then back-tracked and said that the PO did not check ID as they are only effectively an 'agent' and don't issue the bond themselves
- He reckons they would have sent me two letters, both of which must have got lost in the post
, and that I would have received at least one follow-up phone call. We have an answering machine - I can understand that I may not have been home when they called but I am absolutely sure there were no messages left.
- Apparently they are entitled to keep my money for 'up to a month' while they verify my details.
I am guessing the reason for the confusion is the password on my Experian file to stop anyone using my credit history (have been burnt by this before). According to Experian, anyone wishing to see my file would just need to contact me to obtain access to my credit record - this would have allowed them to verify my identity but was not done for some reason.
It just seems like they have made *no* effort to contact me whatsoever, and in effect, didn't want to invest my money but thought it would be nice to hang on to it for a month before sending it back.
Just wondering whether anyone else has had this problem or similar problems? I am about to write a letter of complaint as I am very cheesed off!
I noticed that the cheque had been cashed but hadn't received a letter from them so it was on my 'to do' list for next week to give them a call and chase up my account number etc.
This morning I have received a letter from them saying that they were not going to process my application as they had not been able to confirm my identity and address :mad: Apparently they had "tried to contact [me] by phone and post without success".
I phoned the Customer Service Centre and tried to explain why I was so unhappy, i.e:
- I had applied for the bond in person and had ID with me but was not asked to provide it
- I have not received any letters or phone calls from them
- They have had my money for a month, probably earning them a nice slice of interest
His response:
- At one point he told me that I should have got the PO to take copies of my ID and sent it in with my application, he then back-tracked and said that the PO did not check ID as they are only effectively an 'agent' and don't issue the bond themselves
- He reckons they would have sent me two letters, both of which must have got lost in the post
, and that I would have received at least one follow-up phone call. We have an answering machine - I can understand that I may not have been home when they called but I am absolutely sure there were no messages left.- Apparently they are entitled to keep my money for 'up to a month' while they verify my details.
I am guessing the reason for the confusion is the password on my Experian file to stop anyone using my credit history (have been burnt by this before). According to Experian, anyone wishing to see my file would just need to contact me to obtain access to my credit record - this would have allowed them to verify my identity but was not done for some reason.
It just seems like they have made *no* effort to contact me whatsoever, and in effect, didn't want to invest my money but thought it would be nice to hang on to it for a month before sending it back.
Just wondering whether anyone else has had this problem or similar problems? I am about to write a letter of complaint as I am very cheesed off!
That man is richest whose pleasures are cheapest. Henry David Thoreau
0
Comments
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I see they have form too: http://www.guardian.co.uk/money/2008/dec/13/interes-rates-savings-post-officeThat man is richest whose pleasures are cheapest. Henry David Thoreau0
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