Post Office Instant Saver-WARNING

rotate

Be aware,that the PO can take a number of days to credit cash deposits to your A/C.
I paid cash into a PO branch on Sat 1st Sept,however it is not showing as credited to the A/C until today Tues 5th Sept.
Cheques I understand,cash I do not. Is this how the PO can pay a higher interest rate by using our cash for 4 days without paying interest.
They are "investigating"

Sapphire

Please keep us posted about the results of the 'investigation'. I've also recently opened the Post Office Saver account because the rates are pretty good (compared to Nationwide's :mad: ).

shown73

I just moved some money from HSBC yesterday evening to ING direct, all electronically. It was debited from HSBC immediately, but still doesn't show in the other account. This has happened to me a number of times with banks, and I've had a whinge on here before about it. Why in this day and age, should it take several days to officially credit another account? Well, we all know why I think, and when you multiply this apparent inefficiency by the number of daily transactions, the sums must be huge. I've been told before that it all has to do with money laundering, but that just seems rubbish, I'm sorry. The sums that I'm moving at the moment would hardly pay a laundrette bill. Where is all this money that is in transit, it must be accountable somewhere. Why just accept that a cheque has to take several days, in this electronic age, why on Earth should it? Debit is instantaneous, credit takes several days. Wouldn't you just like to grab some of these smug so and so's by the tender parts....

YorkshireBoy

@shown73,

Did you 'push' it from HSBC to ING using BACS?

If so, this will explain the 2-3 day delay.

Why not ask ING to set up a DDI with your HSBC account? All they'll need is a £1 cheque from the HSBC account.

For all future transfers in to ING, initiated from the ING site, your money will then land in ING the same day it leaves HSBC.