Post Office instant saver accout Query

james_uk

Hi, Is there anyone who can help with a query about the above account.

My mum is wanting to open an account were she can just put her money in safely and then be able to get to it using a card as she wants.


Where i live there isn't a bank that is very local, she isn't very good with getting around so we have opted to look at the post office accounts as there is one very local.


Online i found the instant saver, which looks very ideal for her, i have two queries though if anyone can help please?


1. With this account do you actually get a card for use in ATM's etc?


2. I filled in the online application which they then send you in the post pre-filled in for you, on the site it asked how you would be depositing your initial £500 to open the account (£500 minimum initial deposit), the options all seemed electronic for how you would do this, it asked if it would be via your own bank current account, building society etc.. there was a section for other which i ticked and entered the text, will be paying it in by cash.
The issue is, it says that you have to send the application back in the post including your initial £500 minimum deposit to open the account, which if you gave them the bank details that's fine, but i cannot let my mum send £500 in cash to them to open the account.


Does anyone know how i can get around this, and am i able to just send the application back with no money and just note that my mum will just go into the local post office branch and deposit the money in there?


Can anyone offer any advice with the two points?


Thanks


James

jimjames

Best account for using with a debit card and paying best return is TSB current account which pays 5%. No savings account will beat that.

You can apply online so easy to do and do transactions at post office.

alanq

james_uk wrote: »

1. With this account do you actually get a card for use in ATM's etc?

"Quick and easy access: online, in branch, by phone, ATM or post"
http://www.postoffice.co.uk/savings-accounts/instant-access

So yes she will get a card for use at ATMs and in branch. What do you mean by "etc"? It won't be a debit card that can be used for shopping.

james_uk wrote: »

The issue is, it says that you have to send the application back in the post including your initial £500 minimum deposit to open the account, which if you gave them the bank details that's fine, but i cannot let my mum send £500 in cash to them to open the account.

From the Ts&Cs "The initial deposit must be by: Cash at a Post Office branch which must not exceed £1,000; or..."
https://www.pofssavecredit.co.uk/POFS-NIS/externalContent/savings/content_terms_conditions_saver.pdf