Post Office Savings Account & Linked Account Verification

DaveyDave_3

Hi All,
So, I thought I'd try to put some money into a savings account that gives a decent level of interest after several years of there being apparently nothing that was offering more than 1% or so. So, at 4.6%, I thought the Post Office would be a decent bet especially as it's an established name. I suppose I new I knew was on to a duffer when it failed to verify my linked account details whilst setting up the account. These details were definitely correct and from a very large high street bank. As a result, I now have a Post Office account, but no way to deposit anything in to it! I've been told that the PO will need further information to verify the account, but they have not told me what. The phone support is not available at the weekends! (because they are shut). 
Not a great start. Has anyone else had a similar experience?
Thanks in advance,
Dave

refluxer

This can happen from time to time and isn't necessarily a reflection on the Post Office themselves. I've had my (high-street bank) current account since the 1990s and had no issues using it as my nominated account with all the savings accounts I've opened right up until I applied for an account with Charter Bank last year and had to post off a bank statement to them after it failed their verification checks.

The Post Office should obviously tell you what you need to do once you fail the online check though - this would normally involve posting off a recent bank statement to them, just as I did to Charter.

I held a Post Office Online Saver a few years ago and it doesn't say much about the linked account, other than... "Provide the account number and sort code of a UK Bank or Building Society current account in your name(s). The account must offer Direct Debit payment facilities."

Do you have an alternative current account you could use instead ? It's sensible to have at least a couple these days, which can help in situations like this. 

wmb194

DaveyDave_3 said:

Hi All,
So, I thought I'd try to put some money into a savings account that gives a decent level of interest after several years of there being apparently nothing that was offering more than 1% or so. So, at 4.6%, I thought the Post Office would be a decent bet especially as it's an established name. I suppose I new I knew was on to a duffer when it failed to verify my linked account details whilst setting up the account. These details were definitely correct and from a very large high street bank. As a result, I now have a Post Office account, but no way to deposit anything in to it! I've been told that the PO will need further information to verify the account, but they have not told me what. The phone support is not available at the weekends! (because they are shut). 
Not a great start. Has anyone else had a similar experience?
Thanks in advance,
Dave

Post Office savings, run by Bank of Ireland, is well known for having useless internet banking and terrible customer service. The general advice is to avoid it.

DaveyDave_3

wmb194 said:

DaveyDave_3 said:

Hi All,
So, I thought I'd try to put some money into a savings account that gives a decent level of interest after several years of there being apparently nothing that was offering more than 1% or so. So, at 4.6%, I thought the Post Office would be a decent bet especially as it's an established name. I suppose I new I knew was on to a duffer when it failed to verify my linked account details whilst setting up the account. These details were definitely correct and from a very large high street bank. As a result, I now have a Post Office account, but no way to deposit anything in to it! I've been told that the PO will need further information to verify the account, but they have not told me what. The phone support is not available at the weekends! (because they are shut). 
Not a great start. Has anyone else had a similar experience?
Thanks in advance,
Dave

Post Office savings, run by Bank of Ireland, is well known for having useless internet banking and terrible customer service. The general advice is to avoid it.

Avoid it, but invest where instead?

wmb194

DaveyDave_3 said:

wmb194 said:

DaveyDave_3 said:

Hi All,
So, I thought I'd try to put some money into a savings account that gives a decent level of interest after several years of there being apparently nothing that was offering more than 1% or so. So, at 4.6%, I thought the Post Office would be a decent bet especially as it's an established name. I suppose I new I knew was on to a duffer when it failed to verify my linked account details whilst setting up the account. These details were definitely correct and from a very large high street bank. As a result, I now have a Post Office account, but no way to deposit anything in to it! I've been told that the PO will need further information to verify the account, but they have not told me what. The phone support is not available at the weekends! (because they are shut). 
Not a great start. Has anyone else had a similar experience?
Thanks in advance,
Dave

Post Office savings, run by Bank of Ireland, is well known for having useless internet banking and terrible customer service. The general advice is to avoid it.

Avoid it, but invest where instead?

??? There are plenty of other options.

https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat/p1

https://moneyfactscompare.co.uk/savings-accounts/

Stubod

...arghhhhhh...yet another Post Office savings thread......simply, NO NO NO....they are truly awful, with zero customer service......good luck, and get out while you can!!!!!

boingy

For me it's hard to say which is the worst: Post Office savings or Post Office car insurance. Neither of them will get my custom again.