Post Office Savings, T's and C's wrong misleading Online Saver Accounts

McCleod

Dear all,


I have a post office savings account "Online Saver". The terms and conditions once logged in quite clearly state: (this is a cut and paste)
"
A. When will the money I've taken out reach my Nominated Account?
•Up to £99,999.99 - if you ask to take money out before 5pm on a business day it will reach your Nominated Account the following business day. If you ask between 5pm and midnight, it'll take two business days.
•£100,000 or over - we'll use CHAPS, which is a same day payment service, if we hear from you before 2pm on a business day. After 2pm, it'll arrive on the following business day. Please check your bank or building society accepts CHAPS payments before you ask to move £100,000 or more to your Nominated Account.
"
I made a withdrawal yesterday morning at 8.45am of 100k exactly. I phoned to check I would receive it yesterday and was told all payments are the next business by 5pm.


This was confirmed by a Manager called Andrew. The payment has already been made by BACS and not CHAPS as their T's and C's state thus they wouldn't do anything.


I was banking on that cash and they essentially LIED.

Fosterdog

You should never leave it until the day you need the money to withdraw it, there are a number of things that can go wrong on both ends (sending account and receiving account) particularly with large sums they can be held up for a few days for money laundering checks to be carried out.