post office online bond maturity signature form?

metrobus

I have noticed that when I login to PO savings under security it mentions a "signature form" that needs to be downloaded signed and sent to them.
Do you need to do this to withdraw the savings of a matured online bond or can it be sent directly to your nominated account?

Thank you.

Alexland

Sorry no answers on this one - perhaps phone them and ask?

Zero_Sum

I have a bond maturing in about 2 weeks & havent heard from them. Normally they send something out by now so im guessing its just paid to nominated account

metrobus

Alexland,I have phoned but they were very vague in answering and did not really know saying if it's asked for in the application then yes,when I said it was not asked for they said probably still yes,it was very obvious the CS guy was guessing.

Zero sum, interest is paid into a nominated account and balance into a online saver,my question is can you transfer the balance from the online saver into the nominated account without downloading ,signing, and sending them the signature form?

Alexland

Well I don't see the harm giving them the signature form if their website is asking for it. PO financial products don't have a very good reputation for customer service on these forums.

metrobus

Alexland wrote: »

Well I don't see the harm giving them the signature form if their website is asking for it. PO financial products don't have a very good reputation for customer service on these forums.

I agree,but before going through the hassle of visiting the local library to download and print the form I thought I would ask here since there CSs obviously did not know.

There has been nothing but hassle from these since the inital application.No wonder most avoid them like the plague.I will never deal with them again.

metrobus

Just phoned them again and the guy said since it's an online account I can just transfer it to my nominated account without sending a signature form.

So one says yes the other says no,and this is after being directed to the online bond department,I suppose they can say at least one is correct.

Alexland

metrobus wrote: »

I agree,but before going through the hassle of visiting the local library to download and print the form I thought I would ask here since there CSs obviously did not know.

Aah I now understand - yes I forget not everyone has easy access to a printer.

Alex

metrobus

Zero_Sum wrote: »

I have a bond maturing in about 2 weeks & havent heard from them. Normally they send something out by now so im guessing its just paid to nominated account

I received the email telling me maturity is up in exactly 2 weeks today.
Have you recieved anything yet?

Like I said earlier interest is paid automatically into your nominated ac and balance transferred to a online easy access account paying 0.05%:rotfl::rotfl::rotfl:

It's obvious they are relying on the clueless to forget and leave it in the pathetic p!ss taking easy access acc,no doubt a lot do.
They do not even offer the ability to go online and pre select you want the total and not just the interest go into your nominated acc.

metrobus

Update and advice that may help PO online fixed rate bond holders who have maturing accounts in the future.

Firstly, nowhere in the email informing on nearing maturity does it inform you that you can transfer balance and interest on maturity back into your current acc,YOU CAN,but obviously they want you to transfer to another of their products or leave it in the 0.05% online saver.

I found out this after multiple phone calls trying to add a nominated account which for some reason their website would not allow me to do,their tech support had no answer to that just saying it should do,it did not on multiple accounts,and I had no faith it would once the online easy saver was opened by them on maturity.

What you need to do is wait until 4 days prior to the maturity date,login,then click on the 3 dots for options to the right of each account,then select reinvest,scroll down and it lists "online easy saver" in this section it states "withdraw and close" select this and enter your CA details.

Then on maturity date your bonds are transferred to their online easy saver for a few seconds and then transferred to your current account and reaches it by 5pm the following day.

It would be so much easier if the PO informed us of this or simply made that option clearly visible,especially when they make it in my case at least,impossible to add a nominated acc.

It took a load of digging and phone calls to work out this withdrawal route and happily the balance and interest sits in my current account now a day after maturity.