Post Office* Online Saver account - useless

P1Fanatic

soulsaver wrote: »

There's 2 possible issues here:
Deposit from linked ac uses Direct Debit - which takes PO (and most others) 10 working days to set up.

2nd, make sure if you deposit any funds in a fixed account that you may add further funds; sometimes (most times) you can't.
If not, see if your are allowed to open another FT ac.

By fixed I meant fixed bonus rate. Its still variable and no issues paying in other funds.

They really should tell you it takes that long. Thought I may I missed such a message in my haste to deposit (and being used to things just working with other online banking) but tried again now with £1 and there is no message and it even says Next which actually completes the transaction. The mind boggles as to how something can be this bad but at least I know now to pay in from my own account. Just glad I tested the water with a small amount initially.

That £1 faster payment I did yesterday is there already.

P1Fanatic

pafpcg wrote: »

I'm going to have to dash your hopes - it'll take far longer than you expect!

The Post Office Saver extracts money from your linked account using the Direct Debit facility. It takes time, lots of time (ten working days is a useful measure) to set-up the facility on your linked account. It's only the second working day since you submitted your request so I'd allow at least another week before checking your linked account for the existence of the direct debit in favour of your Post Office account (and your linked account may tell you when the direct debit will make the actual transfer.). Allow a day following receipt of funds for the money to appear in your Post Office Saver account.

Once the direct debit has been set-up, any further transfers will be much quicker, maybe as quick as three working days.

Patience is a non-negotiable requirement when running a Post Office Saver!

Thanks for that detailed information. Just a shame they don't flag that to you when using this option as I wouldn't have bothered. And also still do not see why they can't add this to your account info as pending or uncleared funds. It's annoying as now have funds in limbo waiting for them to grab it from my bank account at any time they feel like it. Luckily its only £50.