Post Office easy access 3.17% AER account (now closed to new applications)

veryintrigued

talexuser wrote: »

so the new rate with bonus is still 2.67.. that's good!

For three months!

Gromitt

veryintrigued wrote: »

For three months!

I opened mine in June, so I should have 4 months at the current bonus. They could still reduce the variable part though of course.

veryintrigued

innovate wrote: »

email received today:



New gross AER 1.15%

Nothing received here yet - hopefully they will make the same mistake again....

innovate

LOL, they sent another email tonight, to correct the phone number in their email of yesterday.

Not sure what you can believe in their emails.

neilsedaka

savingguru wrote: »

Can I claim some compensation I moved my money on the date I got the email because of the drop in interest rate? Otherwise I would have kept my money in the account? Thanks.

Yes, assuming that the account that you moved the money to pays less interest than 3.17%. In my case I moved money to a Santander 3.20% account which obviously does not qualify for compensation.

innovate

savingguru wrote: »

Can I claim some compensation I moved my money on the date I got the email because of the drop in interest rate? Otherwise I would have kept my money in the account? Thanks.

Sure, but do your numbers first. You might find that the stamp costs you more than you could reasonably claim.

innovate

savingguru wrote: »

Can I claim some compensation I moved my money on the date I got the email because of the drop in interest rate?

If you decide to claim for loss of interest, don't use the complaints form on their website. That goes to some PO function that has nothing to do with PO Finance, and whilst they apparently forward your complaint to "the right" people, it seems to just go into a black hole.


I sent a recorded snail mail this Monday, asking for an unspecified sum to compensate me for withdrawals I had made because I had believed their original advice about the rate cut and had withdrawn a fair amount on Jan 20. They called today and offered me about a tenner more than the delta between my interest on 3.17% and 2.67% for the month and a bit. I accepted this offer and they said they'd pay the money into my savings account in the next 8-10 days.

The chap who called sounded like he was under duress, and offered no apologies.

BeachNut

I never received the late notice nor have received the new notice about the rate drop, although my wife has. For both accounts we gave them the same email address so may be a glitch in their system in that they only email to one email address, but the letter is clearly addressed to Mrs and not me. So I still consider myself 'un-notified'... Anyone noticed the same ?

Nicholas-bloody-Parsons

They have now written to me saying the Reward Saver interest rate drops to 1.25% on 1st March, (2.5% with bonus)

But you can close your account with no penalties.

veryintrigued

innovate wrote: »

If you decide to claim for loss of interest, don't use the complaints form on their website. That goes to some PO function that has nothing to do with PO Finance, and whilst they apparently forward your complaint to "the right" people, it seems to just go into a black hole.


I sent a recorded snail mail this Monday, asking for an unspecified sum to compensate me for withdrawals I had made because I had believed their original advice about the rate cut and had withdrawn a fair amount on Jan 20. They called today and offered me about a tenner more than the delta between my interest on 3.17% and 2.67% for the month and a bit. I accepted this offer and they said they'd pay the money into my savings account in the next 8-10 days.

The chap who called sounded like he was under duress, and offered no apologies.

As I mentioned previously I followed the complaints form a couple of weeks ago and then, whilst on the phone to them about another matter this week, mentioned this email and lack of response.

Today I received a standard 'we're investigating' type of letter - we have 8 weeks etc etc.

But more interestingly there was an email address on the letter which may be of help to others complaining.

[EMAIL="fscustomercare@postoffice.co.uk"]fscustomercare@postoffice.co.uk[/EMAIL]