Post Office ISA withdrawal

[Deleted User]

My husband is trying to withdraw some money from his online instant access cash ISA. The money has been taken from the account and has been put into a holding account (which pays less interest).

Although, on several occasions, he has given them his NatWest bank details into which the money should be transferred, PO are saying his account cannot be verified. He has tried secure messages but is getting nowhere!

He has just made a phone call to their customer service department which, after some time asking to send a letter with his bank details, was disconnected!

[Deleted User]

From another conversation with the Post Office Money, my husband is very angry. Having given them ALL his banking details, they are saying that this not good enough. They now want him to contact his bank and for them to provide a statement to the Post Office.
We have never had this trouble with an ISA before.
They do not seem to be able to explain why they need more information than any other banking process and why his banking details are not good enough for them.

I think we shall be getting another provider pretty soon!

badger09

Unfortunately there are many recent posts about problems withdrawing money from Post Office accounts, both the ISA and non ISA versions

Hope your husband gets it sorted soon.

PrettyFlower90

I feel like I have been in a complete nightmare since I opened the ISA from the post office.. Worse thing I have ever done!!!

I finally got my bank details verified and accepted by the post office (they just dont seem to register Halifax at all), and now I requested a withdrawal from my ISA to my nominated bank through a secure message (If i had known this was the only way to get things sorted this ISA would have been a no -no). However, my withdrawal has just gone into this "Holding account", not my bank, and after phoning up the helpline they hadn't a clue. Told me to wait until tomorrow night to see if goes through, and then if not to send another secure message.. Thing is, no one is replying to my messages!! I have sent multiple since 8th April and no reply whatsoever, the whole thing is a complete disgrace. There is no way I will ever touch another product from the PO, first and last time.

saverbynature

Abrielle wrote: »

My husband is trying to withdraw some money from his online instant access cash ISA. The money has been taken from the account and has been put into a holding account (which pays less interest).

Although, on several occasions, he has given them his NatWest bank details into which the money should be transferred, PO are saying his account cannot be verified. He has tried secure messages but is getting nowhere!

He has just made a phone call to their customer service department which, after some time asking to send a letter with his bank details, was disconnected!

It seems there is a general issue between Post Office and NatWest as I also had a secure message advising my Natwest account could not be verified (I've only had the account for 40 years!). However I was told by Natwest branch that it their company policy not to certify bank statements so they did a letter confirming my account details and printed off a statement from their system. I then sent both of these to the Post Office which was accepted.

They are VERY slow responding to their secure messages though! I sent a message on April 1st which was only responded to on April 15th! As the only way to withdraw money is also via secure message I trust they won't take 2 weeks to action these as well!

[Deleted User]

Continuing nightmare! My husband eventually spoke to a very nice lady at Post Office Money who said that if he sent a cancelled blank cheque to them, which would confirm his name, bank account number and sort code, they would arrange his transfer, along with a £20 compensation. He duly sent off the cheque immediately.
He received a message the following day to say that they had not received it. He suggested they contact Royal Mail!
He has checked his account again - nothing - and no reply to his secure message.
We shall obviously look to transfer to another provider but that is another delay and he wouldn't have requested a withdrawal of some money if he hadn't been in need of it.
Not sure what else we can do.

Sonia_Clarke

How do I get my money out ? I've sent bank statements confirming I've been with the Halifax 35 years. They say they've not had them. Who can i make a complaint too. They are the worst organisation ever. Do not invest with them

Gizmo247

If I were you, I would be transferring my money out of the Post Office ASAP. This will be initiated from the receiving ISA provider through the official transfer process so no stupidity on the Post Office's part allowed.

glitter123

I've got an online saver account with the Post Office. I had to write and ask to close it - 2 weeks ago and so far nothing has happened.

kwheway

I had problems a few years ago when I deposited my money into a post office isa and savings account, they claimed they hadn't received the cheque deposit despite it being cashed. I'm pretty certain I have an old account still open with them, after ensuring I got the money back immediately. Not bothered to close it because it was such hassle, and apparently that little interest remaining I can't withdraw anyway.

I was considering another isa with post office but was concerned about withdrawing the money through this 'secure message.' Needless to say the rates and the product seem too good to be true because of their dismal customer service and playing with people's heartstrings when they do not allow 'easy access' to your money. No other online bank uses this message system to withdraw money, why can't the post office adopt the same approach as any other bank or building society?

PrettyFlower90

Thankfully there is no need anymore to write a secure message to withdraw money. But I still regret opening this account and will not do so again in the future!