Post Office Instant Saver

OrangeBlueGreen

Hi everyone

Does anyone know by any chance if the Post Office Instant Saver that you must open with £100 allows you to go below that amount or if £100 must be kept in at all times.

https://www.postoffice.co.uk/help-support/instant-saver

The only way to contact them appears to be a phonecall and I was hoping to just find out online.

Many thanks :-)

Ayr_Rage

It's clearly stated in the KEY INFORMATION !

OrangeBlueGreen

Thanks for finding it for me. I had read the webpage and the summary document, but not the 19-page document. What had confused me the most was that on the front page it says "Easy access to your savings whenever you need them. Minimum amount to open £1."

I ended up ringing them and after ages of listening of never-ending minutes of pre-recorded messages only to be given information that contradicts what you have just posted. (Telling me open with 100, can go down to £1 but if it were zero for 13 months, it would be closed).

Middle_of_the_Road

Post office savings are provided by Bank of Ireland. Really not recommended for their customer service or online functionality. Many better options available with similar interest rates.

Section62

OrangeBlueGreen said:

...

I ended up ringing them and after ages of listening of never-ending minutes of pre-recorded messages only to be given information that contradicts what you have just posted. (Telling me open with 100, can go down to £1 but if it were zero for 13 months, it would be closed).

Don't rely on what PO Money staff tell you on the phone, they sometimes seem to make it up as they go.

The Online Saver account (not the one you are interested in) has a minimum operating balance of £1, but the T&C's change if you don't use the account for 12 months and after that you need to keep a minimum of £20 in the account or it will be closed by giving you 30 day's notice.  However, several PO Money customer service staff have said the account only gets closed if you don't use it for three years or more.  They have no idea about the £20 thing.

The complaints handling staff are not much better.

One of the worst organisations I've dealt with when it comes to customer service in general, and for details of how accounts work in particular.

Stubod

I would never put money in PO.....even if they were the only bank giving interest.....truly awful customer service...avoid at all costs...you have been warned...