The reason you can't withdraw from your Post Office savings account...

JustAnotherSaver

So i called Post Office today since i own 5 online saver accounts and can only withdraw from 1 of them. The other 4 throw up error messages.

I was told this is because "you're not supposed to" have more than 1 account.

I said this is nonsense (no idea if that's correct, i just blagged it but since it didn't stop me opening a further 4 then it's not my fault ), that i have had numerous ones for well over a year and that i had previously been able to withdraw from each no problem.

The guy seemed less than not interested one bit and just maintained i shouldn't have more than 1 online saver & this was the cause of the problem.

First time i've had anything other than a "no idea, we are aware of this and are working on it" from them so any views on this since i'm sure we're all aware that people on the phone don't necessarily give spot on answers.

colsten

This sort of stuff has been quite normal with the Post Office Bank for several years, I'm afraid.

Sadly, there are still people on MSE who recommend PO accounts.

Stubod

..plenty of threads on here regarding the crap service that is PO accounts...I had one once but never again regardless of their interest rates, simply not worth the hassle.

JustAnotherSaver

What's "normal"? Not being able to get your money out? (From what i've read - obviously). Incorrect information (again, from what i've read, obviously)?

This is the first time i've ever read or heard of an actual reason behind it beyond "don't know". Surely it can't be correct that you're only 'supposed' to have 1 account?

I'm not one to read 200 page T&Cs i must admit but i'd be pretty surprised if that was the case.

And needs must unfortunately. These current accounts that require 2 or more direct debits and for them to be different direct debits in order to gain your interest.

quirkydeptless

Thanks, that was my theory as to why I can only withdraw from the first one I opened. I've only got them for DD purposes, but means I've got about a 100 quid stuck at 0.01% interest, but then it was free money

As my Magic Money tree withers, I may need to cut down some of the deadwood, so I hope to be able to 'withdraw' the money by closing the extra accounts at some point.

I also can't open new ones with PO, but thankfully don't need to.

wmb194

Quite simply, he's wrong. As I understand it you can only have one of each issue.

arsenalboy

quirkydeptless said:

Thanks, that was my theory as to why I can only withdraw from the first one I opened. I've only got them for DD purposes, but means I've got about a 100 quid stuck at 0.01% interest, but then it was free money

As my Magic Money tree withers, I may need to cut down some of the deadwood, so I hope to be able to 'withdraw' the money by closing the extra accounts at some point.

I also can't open new ones with PO, but thankfully don't need to.

I had this problem but got round it by transferring "internally" between the PO accounts to the account that allowed external withdrawals.

surreysaver

When the Halifax Rewards Current Account changes in June, that's another Post Office direct debit I won't be needing

Wheres_My_Cashback

Still have 4 PO accounts and I must say I've never had a problem with any of them, whether it be withdrawals, DDs or anything else. 
What you were quoted about withdrawals is simply wrong.
The way accounts are changing there may be a time soon when a PO a/c is not really needed for DD purposes.

Bobblehat

I have two Issue 37 running at the moment and I'm sure I have had multiple "same Issue number" accounts open in the past. I have no problem moving funds internally between any of my several accounts with the PO (once the few day wait period is over for a brand new account) …. this lets me accumulate the savings into the one with the highest interest and move it out of the PO if needed. I can't remember any great difficulty moving money out to the linked accounts …. it sometimes takes a day or two to land in the linked account, sometimes it's quicker. So try what arsenal boy suggests.

One issue I have had is when closing down an account, if there has been a recent "payment in", you have to wait a day or two until the payment "fully" clears before it will let you close the account and transfer the funds elsewhere. You can tell if it is possible to close the account if the "available balance" on the withdrawal panel is the same as the account balance on the summary page for the account.

I do agree with the OP that the PO Banking CS people seldom give consistent advice …. and the answers often remind me of the old joke about asking a stranger for directions and getting the reply "Well, I wouldn't be starting from here"!  

I put up with the shenanigans for the very useful facility they offer!

clivep

We were getting an error whenever trying to amend DD details on any of our PO a/cs. Phoned them only to be told that only one sole and one joint a/c allowed and that was the problem which would get resolved once we closed the extra a/cs. Load of bull of course... closed all a/cs bar one sole each and one joint but still can't change the DD on these.