How Do I Transfer Money From Post Office

Axel

For the past few years my wife has been taking her elderly aunt to the Post Office every week to draw cash, then all over town to pay her council tax, rent, utility bills, etc.etc and then to get her shopping as this is the way she has always done it!

Over the few months we have finally and gradually convinced her to enter the 21st century. Online banking is set up and all of her pensions are now paid into her bank account rather than the post office. Direct debits are set up for council tax, rent, utility bills etc. and she pays for her shopping with a bank card. The weekly trip is now simply to Asda for the shopping.

One final step remains, she needs to get around £10K transferred from the Post Office to her bank account then close the PO account. The girl in the PO has told her that they cannot transfer electronically and she will have to draw £600 cash per day and take it to the bank!

This is clearly nonsense so how does she proceed? I cannot see a way to set up an online PO account to transfer it, so I have suggested that they go into her bank, hand over the PO account details and ask the bank to arrange the transfer.

Is there another way? Any advice appreciated.

EarthBoy

I doubt if the bank will be able to do anything. You can only normally transfer current accounts or ISAs.

I suggest she writes to the contact address for the particular type of account she has, asking them to close the account and send her a cheque for the balance. She can then pay the cheque into her bank account.

sheramber

Presumably she has a Post Office card account for receiving her pension.

Account closure
I.1
You can tell us to close your account at any time
but you should only close your account if you are
no longer entitled to any Pension, Benefit or Tax
Credit payments or if you have opened another
bank account in which to receive your payments.
I.2
You must go to a Post Office branch to close your
account. You will have to complete a card account
closure form.
I.3
When you fill in the card account closure form, you
will be asked to withdraw all the money in your
account in cash at that time, subject to the daily
withdrawal limit. If you do not wish to receive cash:
(a)
you can instruct us to transfer the money in
your card account to an existing bank account in
your name. Please ensure that you bring with
you the relevant account details (account name,
account number and sort code); or
(b)
if you do not have a bank account we will pay
you the money in the form of a cheque made
payable to you and sent to the address which
you gave to us most recently.
I.4
You should note that the actions in (a) and (b) above
are carried out centrally and not at a Post Office
branch and therefore there will be a delay in you
receiving your money.

https://www.postoffice.co.uk/dam/jcr:842575de-26f2-475b-975f-cc600db2b0bc/post-office-card-account-terms-and-conditions.pdf

Mnd

Could she/you set up online at the post office then use the manage money facility

System

Mnd wrote: »

Could she/you set up online at the post office then use the manage money facility

Does the PO card account offer such a facility?
It's not a proper savings/bank account account.

Axel

You cannot set up an online account with the Post Office.

ROY47

Oh yes you can but this may be to start a new account

https://www.postoffice.co.uk/savings-accounts/online-saver?campaignid=PPC_OS_0001&tmad=c&tmcampid=510&gclid=EAIaIQobChMI_fSnluK32AIVpLDtCh0ezgewEAAYASAAEgIYYPD_BwE

ROY47

or try this one





Easy Access Accounts available through Post Office Money®

Post Office Money Easy Access are provided by Bank Of Ireland
Products Why this option Rate Manage Instant Saver

• Instant access to your money
• Open with just £100: top-up whenever you choose

0.75% gross/AER variable for the first 12 months
After 12 months this reverts to 0.10% gross/AER variable

• Online
• By post
• ATM
• In branch

AirlieBird

ROY47 wrote: »

Oh yes you can but this may be to start a new account

I thought someone would come along to say this. The OP hasn't said what account he is referring to, but I think you need to separate Post Office Money from Post Office services. Yes, PO Money current and savings accounts can be operated online, but I don't think that is what the OP is referring to. The Post Office Card Account, which is a Post Office service (rather than being a product of Post Office Money) , cannot be operated online and it seems reasonable for the purpose the account was been used for that it is this account the OP is referring to.

Squarepeg72

Can I take my nan to her bank and request a transfer of funds into her bank account. She hasnt used her PO account for over a year and has a lot of money in there which needs banking or do we request closure from post office itself and will they transfer to bank account if we give details?

agrinnall

Squarepeg72 wrote: »

Can I take my nan to her bank and request a transfer of funds into her bank account. She hasnt used her PO account for over a year and has a lot of money in there which needs banking or do we request closure from post office itself and will they transfer to bank account if we give details?

It's all there in post #3.