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Post Office Online Saver - move...
wallofbeans
Posts: 1,498 Forumite
Hi all,
I opened a Post Office Online Saver only a few months ago, most for the DD's... but now I see they have a new one with a better 1.45% rate.
Can I switch my current savers to that rate?
Or perhaps just open a 1.45% rate saver (assuming they have the same DD advantages), move the money over and then close down the old one..?
Thoughts?
I opened a Post Office Online Saver only a few months ago, most for the DD's... but now I see they have a new one with a better 1.45% rate.
Can I switch my current savers to that rate?
Or perhaps just open a 1.45% rate saver (assuming they have the same DD advantages), move the money over and then close down the old one..?
Thoughts?
0
Comments
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Just open the new 1.45% ……. move the money over from the old one …… and keep the old one open with minimum money in for the extra DD :shhh:
Every now and again, draw down money from the old one to the new one to maximise the interest.
(edit: or go Marcus at 1.5% ?)Compiler of the RS League Table.
Being nosey... How many Regular Saver accounts do you have? — MoneySavingExpert Forum0 -
If you only opened a few months ago, and you don’t have a lot of money saved in there, I don’t see the point to be honest.
Rates a few months ago were maybe 1.32% or something. If you got £1000 in there, it’s a difference of £1.30 a year.0 -
If you only opened a few months ago, and you don’t have a lot of money saved in there, I don’t see the point to be honest.
Rates a few months ago were maybe 1.32% or something. If you got £1000 in there, it’s a difference of £1.30 a year.
Mine is newer than I thought, opened at start of October at 1.15% interest. But I see your point...0 -
wallofbeans wrote: »Mine is newer than I thought, opened at start of October at 1.15% interest. But I see your point...
Really? Are you sure that’s not just the bonus part? Issue 33 before the current offering was 1.37% and they seem to creep up slowly quite often. Who knows, maybe next month they’ll have issue 35 paying 1.49% interest or something!0 -
I reckon they have been streadily getting people hooked on using them for DDs, and then whammo :exclamati, they launch a competative intereste rate and start to hoover up the extra savings the helpless DD addicts poor into them :EasterBunRetired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
All we need now is for the Post Office to stop accepting direct debits to fund their savings accountsI consider myself to be a male feminist. Is that allowed?0
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Yes you can transfer over, i have just done so through my online account took a total of 5 mins0
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surreysaver wrote: »All we need now is for the Post Office to stop accepting direct debits to fund their savings accounts
:eek::eek::eek::shhh::shhh::shhh:0
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