Post Office Online 2 year Fixed ISA April 2020 @ 1.35%

xsound

I applied successfully for this 2 year fixed term ISA on 21st Apr 2020. The transfer out of my previous ISA took place the 22nd. Today 24th I have no idea where the money is. Yesterday 23rd I could not logon to the post office ISA website, today 24th the website says it is down for maintenance and there is no reply to any phone lines associated with these accounts. Anyone else having this happening to them?

masonic

Many people have experienced problems with Post Office savings. If your previous provider only sent off the transfer on the 22nd, then it's unlikely to have been credited to your Post Office account yet.

xsound

Thanks for the response I am actually more concerned about the difficulty contacting them!

xsound

The website has come back and the transfer happened the 22nd, so panic over

colsten

Oh dear. Yet more PO heartache, Glad it is over for you for now.  Good luck to you if you ever want to get your money out of the PO. It will be possible somehow, but you should be prepared for more obstacles. 

I am happily opening and holding accounts with any FSCS-protected financial institution with the exception of the Post Office Bank.

Albermarle

On the other hand the transfer was incredibly quick . Mine ( with other providers) has now breached the 15 day deadline.

colsten

Fair point, a 1-day ISA transfer is impressive, although not unique. I would still only touch the PO Bank with a barge pole as they have consistently proved, for several years, to have carp systems and carp CS. Perhaps the speed of the ISA transfer is a turnaround - - - but then the login problems and the unavailability of their CS at precisely the same time suggest otherwise.

In any case, 1.35% for a two year ISA isn't unique to the PO, or market leading. Shawbrook Bank were offering 1.48% until yesterday (now down to 1.36%), and there are several others offering 1.35% today still.

JohnEBelcher

Trying to apply for the Post Office is still a problem. as of 27/04/2020.  I get this message:

Our website is currently down for maintenance. It will be available again soon, so please try again later. We apologise for any inconvenience this may cause you.

JohnEBelcher

This is the site as of 28/04/2020

hgt

JohnEBelcher said:

This is the site as of 28/04/2020

You've probably had a lucky escape to be honest as Post Office are woeful, Shawbrook bank are still offering 1.36% for a 2 year fix though if that's any use to you. I've not had any experience of Shawbrook, but they've got to be better than Post Office! Or there's Ford Money at 1.35% - Ford Money are very good in my experience. 

woodend686

After 6th April I transferred a previous year's ISA to a Post Office fixed rate without adding new money. That is now locked to any new money - can I open a new ISA with another provider to deposit this year's allowance?