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MSE News: Post Office cuts rates, but only tells savers after

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Comments

  • Thanks again Innovate. I had seen the Issue 9 T&C but couldnt find the Issue 5's online either. I may ask The Post Office to supply them if I cant find them. Looks like I will just have to wait until 25 Feb then transfer the lot to my Natwest easy access at 2.85%! which runs until Oct. After that I think I shall just spend the lot before inflation consumes it all :-)
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    You know you can atm get 3% in current accounts at Lloyds, BoS and Santander? It's variable too, so no idea how long it lasts. Also the absolute max you could stash away in these is £50K in total. The Santander costs £2/mth but you might be able to get cashback for Direct Debits. And Quidco/TCB might still do cashback for opening a Santander 123.
  • Yes thanks for that. The problem is I am already maxed out at £85K with other cash products at those three. One of the reasons I went for the Post Office was that I was trying to spread cash assets to avoid exceeding the magic number at any licenced entity. I also use HSBC, Nat West/RBS and Marks and Spencer. Running out of places to put it!
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    I know the feeling.....if you don't need all the cash anytime soon, there is always investments. Good luck, anyway!
  • Innovate, Many thanks for the help, advice and clarification.
  • albo2002
    albo2002 Posts: 252 Forumite
    does anyone know how you close the Post Office savings account?

    It's easy to withdraw money, but I cant see on the site how you close the account and have everything, including all interest, transferred to your nominated current account?
  • Their online offer is limited and I believe you need to contact the call centre or write to them to effect a closure.
  • bubblesbonbon
    bubblesbonbon Posts: 800 Forumite
    Part of the Furniture 500 Posts Combo Breaker I've been Money Tipped!
    edited 18 March 2013 at 8:35AM
    Shaun is right-

    Call them on 0845 602 3409

    or write to

    Post Office Savings
    PO Box 5179
    Brighton
    BN50 9UY

    (Taken from thier Guide to Savings Booklet - PDF Version here..
    http://www.postoffice.co.uk/sites/default/files/Premier_Cash_ISA_KIP.pdf )
    "It's nice to be important but more important to be nice"

    John Templeton 1912-2008
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