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

colsten

clivep said:

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.

Good (!!) to hear that the PO Money CS is consistently bad.

pafpcg

clivep said:

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.

I had a similar problem when trying to amend a DD - it would apparently accept a change but revert to the original when the DD details were re-opened.  I could create a new DD but not delete/cancel the original DD or the new DD, so I ended up with TWO DDs!  I cut my losses by opening a new Post Office account to the same bank (with the amended DD amount) and, once the DD system proved to be working correctly (yes, that meant three DDs in parallel!), I closed the original Post Office account with the two undeletable DDs.

The lesson I learned: I can't change any of the existing DDs - I can only close accounts and start afresh. But, for as long as I'm allowed to open new accounts, it works.....

bristolleedsfan

From memory was during last quarter of last year I phoned P.O Savings was told I had to reduce accounts to 1 in total, I phoned back detailing the account that i wanted to keep open, outcome was most of the accounts could not be closed due to weekly DDs being in progress, have been able to withdraw from each account and change direct debits on each account since then, only exception being  PO system sometimes prevents same Bank details being used as a DD for more than 1 account

where_are_we

I have 6 Post Office online savers with different issue numbers. I use the DD`s for various current account requirements. Like "Arsenalboy", I would regularly internally transfer all but £1 from the oldest 5 to the most recent one and empty that one down to £1. Today I received 5 emails telling me the oldest 5 interest rates were reducing on 17/4! Talk about giving you 14 days notice in advance - this is 13 days in  arrears! They also seem to have got their table of interest rate changes for annual and monthly interest the wrong way round. They state a new underlying annual interest rate for all 5 accounts of AER  .0001%  (how near to zero can you go!) whereas the monthly interest AER is .01%? Their online "spiel" at the bottom of my accounts page states "Hey Martin Your money`s growing nicely" (Apologies to Mr Lewis!).

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