Post Office Savings

Baldur

juicyjude wrote: »

Many thanks martyn4764 but does anyone know when you are completing the app form online if there is a section to register for gross interest as I am a non tax payer. Once again, thank you

See - http://www.postoffice.co.uk/portal/po/content1?catId=126000768&mediaId=126000798

How do I register for gross interest?

To register for gross interest:
1. Log-in to your account.
2. Under ‘Savings Account Management’ select ‘Other’.
3. Select ‘Change Tax Liability’.
4. Read the help-sheet and declaration provided and follow the on-screen instructions.
If you hold multiple accounts you must register each account for gross interest separately using the process above.

juicyjude

Thanks Baldur so I have to complete the R85 once the account is opened! Cheers for your help.

DanE

I missed out on the NatWest 2.85% by around 2 hours (with bonus), as such the next best deal was AA - however on reading all the details on Post Office (change of status from 1st November), I have decided to open the Online Saver which I done so with ease. I funded the account via BACS from my nominated current account the note said it would take 10 days (wow) or you may fund by a debit card - I paid £1 which I can just about afford to loose if the institution goes under before 01/11.

You have the option to receive interest monthly or an annual payment. At the end of the application you receive your account and sort code details online - with paperwork to follow to operate the online account, there is also a PDF document to sign and return freepost as proof of signature. How to register for gross interest is an addendum to the process.

I've read the arguments for faster payments, BACS and the like - it's all swings and roundabouts for me, at the end of the day I'm simply after the best interest rate (with unrestricted withdrawals), this account at this time works for me as I need access to an amount of money for several months ahead.

Special_Saver2

When I do want to withdraw some money, does anybody know what the daily withdrawal limit is for the Post Office's accounts?

I cannot see this information anywhere on their website.

SS2

Baldur

Special_Saver2 wrote: »

When I do want to withdraw some money, does anybody know what the daily withdrawal limit is for the Post Office's accounts?

I cannot see this information anywhere on their website.

See pages 16/17 - ftp://ftp.royalmail.com/Downloads/public//ctf/po/Online_Saver_Key_Info_v3.pdf

which, curiously, for an online account, gives the following information on limits for BACS transactions:

There are no limits on the value of transactions requested in writing

Arthurian

Special_Saver2 wrote: »

When I do want to withdraw some money, does anybody know what the daily withdrawal limit is for the Post Office's accounts?

I cannot see this information anywhere on their website.

SS2

From the "How It Works" section of their website:-
Making withdrawals from your Post Office® Online Saver
You can make unlimited withdrawals whenever you choose using our online banking service. There are no charges, penalties or notice periods. Simply log in and follow the simple instructions to transfer money to your nominated account.

sibby_2

planemad wrote: »

I'm thinking of opening a post office savings account early next month when they officially join the FSCS.
Do the post office accounts currently accept faster payments in and out?

Many Thanks

Is there any new news about the Post Office joining FSCS? I read there was a high court ruling or some such on Friday?

planemad

They were accepted, all should get rolling on 1/11. http://online.wsj.com/article/BT-CO-20101022-704500.html

moneysaver84_3

Glad they got accepted! I received my 'confirmation of the setup of your nominated account' letter. Does the online login info follow in the post?

shaungjones

Just thought I would add that as an existing Post Office credit card user and PO Online user I am unable to get my application for an Online Saver to get past page one requesting personal details. It asks for Town of Birth but the field is greyed out. This is because it pre-filled all other information that the PO already holds but the form validation doesn't allow me to proceed without my Town of Birth - what a pity. I have tried IE8 and Firefox but to no avail.