Post Office Online Saver - move...

wallofbeans

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?

Bobblehat

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% ?)

Herbalus

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.

wallofbeans

Herbalus wrote: »

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...

Herbalus

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!

quirkydeptless

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 :EasterBun

surreysaver

All we need now is for the Post Office to stop accepting direct debits to fund their savings accounts

malky39

Yes you can transfer over, i have just done so through my online account took a total of 5 mins

badger09

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: