Post Office ISAs

fredandsamrideagain25

Has anyone signed up for a post office ISA please? I'm in the process of creating an account but I am a bit put off by the URL postofficeeisa.co.uk, it is a link from the postoffice.co.uk site but the page looks really rudimentary, the logo does not have a hyper link and the address is clumsy. I want to avoid being scammed with my first ISA. Many thanks

Mark_d

I believe you would be protected if it turned out to be a scam.  Why do you want an ISA with the Post Office?  Do you think they offer good interest rates?  Do you think they provide good customer service?

PlatinumChaos

fredandsamrideagain25 said:

Has anyone signed up for a post office ISA please? I'm in the process of creating an account but I am a bit put off by the URL postofficeeisa.co.uk, it is a link from the postoffice.co.uk site but the page looks really rudimentary, the logo does not have a hyper link and the address is clumsy. I want to avoid being scammed with my first ISA. Many thanks

It should be fine. I've had a Post Office ISA for the past year with that URL, and I haven't had any problems at all. (I agree it does look really clunky, but it seems to do the job.)

eskbanker

fredandsamrideagain25 said:

Has anyone signed up for a post office ISA please? I'm in the process of creating an account but I am a bit put off by the URL postofficeeisa.co.uk, it is a link from the postoffice.co.uk site but the page looks really rudimentary, the logo does not have a hyper link and the address is clumsy. I want to avoid being scammed with my first ISA. Many thanks

The PO financial products just use the PO name but are actually provided by third parties, hence the footer info reproduced below, so the website look and feel isn't fully aligned with the PO corporate style:

Post Office ISAs are provided by OneFamily. Savings in Post Office cash ISAs are deposited with Bank of Ireland UK.

fredandsamrideagain25

Many thanks for the advice, I'll go ahead then. I've picked the online one as its offering 4.4% (not guarenteed) which seems like a good, competitive rate

frugalfairy777

HUGE CON. I signed up for a Post Office Isa at 4.65% last year. My interest is being paid out at 1.25%. Hundreds of pounds out of pocket,  they are a very cruel organisation please put your money somewhere safe.

slinger2

frugalfairy777 said:

HUGE CON. I signed up for a Post Office Isa at 4.65% last year. My interest is being paid out at 1.25%. Hundreds of pounds out of pocket,  they are a very cruel organisation please put your money somewhere safe.

You'll have to give some details. Sounds like you're not getting the bonus any more 

eskbanker

frugalfairy777 said:

HUGE CON. I signed up for a Post Office Isa at 4.65% last year. My interest is being paid out at 1.25%. Hundreds of pounds out of pocket,  they are a very cruel organisation please put your money somewhere safe.

There will obviously be more to it than that - regulated institutions don't get to breach the terms of their products, or at least not without consequences.  If you genuinely believe that you're not getting what you're entitled to, then you can complain and ultimately escalate to the financial ombudsman service for resolution, or feel free to share more meaningful and less emotive information on here for likely explanations of where the confusion arises....

Johnjdc

eskbanker said:

frugalfairy777 said:

HUGE CON. I signed up for a Post Office Isa at 4.65% last year. My interest is being paid out at 1.25%. Hundreds of pounds out of pocket,  they are a very cruel organisation please put your money somewhere safe.

There will obviously be more to it than that - regulated institutions don't get to breach the terms of their products, or at least not without consequences.  If you genuinely believe that you're not getting what you're entitled to, then you can complain and ultimately escalate to the financial ombudsman service for resolution, or feel free to share more meaningful and less emotive information on here for likely explanations of where the confusion arises....

Coincidentally 1.25% is what the Post Office pay at the end of the one-year bonus period on their Online Easy Access ISA. So, probably the answer is this person signed up last year as in more than 12 months ago and is now out of the bonus period but for some reason has chosen to complain about it rather than simply transfer to a better deal.

epm-84

The thing with the bonus is it's guaranteed for 12 months, no more, no less. So if interest rates drop significantly in the next few months it could turn out to be an excellent account compared to other variable rate ISAs. If they stay the same then you have the hassle of needing to transfer out after 12 months to avoid a very low interest rate.

savvybird100

I've had a Post Office ISA until April 2025. All went fine until I tried to transfer out at the end of the period. It has taken me from 5th April until today when they finally did the transfer. They put every obstacle they possibly could in the way. My new provider started by emailing them for the transfer which was their recommended method, then they said they didn't accept emails and requested EFT, then said the new provider EFT wasn't compatible and we had to post, didn't receive the letter, resent with tracking, denied having received it despite the tracking, then said we had to email, 3 emails later they made the funds available to the new provider but the way they did it was so abrupt. What they wanted was for me to take out a new ISA with them. As previously stated, they use a third party who have been terrible to deal but this is just my experience, your experience may be different.