Post Office Fixed rate 2 yr bond

ptmatt

I applied to open a Post office 2yr bond.I had to enter my bank details so they can draw the funds.I placed a large sum from a savinbs account into the current account and some 6 days later its still there.If it takes 10 days this will cost me nearly £80.In this day and age ridiculous.I opened a Skipton account and all sorted within 2 days.I did speak with the Post office...thats the way it is.If the funds aren;'t there when they call for it they close the application for the bond.What a dire way to do things

country_2

I have every sympathy with the above member. I have waited a total of 9 "Working" days (13 full days) to have the funds taken out of my bank account. I initially ensured that funds were cleared in my bank account prior to opening a 3 year online bond. My instructions were to have the one off deposit taken out of my bank account, and 9 full days later received a letter asking for a cheque to be sent. I telephoned the number which is an 0845 number, and was informed that the sending of this letter was standard practice and to ignore the letter. Rather than ignore the letter, I did in fact send a reply letter to the address, asking to take the deposit from my bank as per the original instructions asap. Today I noticed that the deposit had been withdrawn from my bank account. This was a large deposit, and the 9 day delay has cost me about £110 in lost interest. I have two other accounts with the Post Office and fail to see why the process has taken so long. I have found the experience stressful and very flustrating, and shall not use the online application again.