post office christmas savings

katiesmummy

i dont know if this would be useful to any of you, but there was a sign in my local post office about a christmas savings club. basically you get a payment card that you can load money on whenever you want (minimum fiver) and at the beginning of november the card is activated for you to spend in loads of shops or you can get vouchers instead. it sounds a lot like the family hampers type savings scheme but seems a bit easier to me. as i am a single mum on benefits xmas is always very expensive for me so i have joined up and am gonna stick a fiver a week on it..

like i said i dont know if any of you would be interested but i thought i would share it anyway!

mary43

Wonder if its the same card I've got ? I got one to get £5 stamp every week towards taxing the car.........too late for this year but will be a great help next year.

katiesmummy

i think its a new thing this year as i've never seen it before and i'm in the post office every week. maybe they have introduced it cos of all the business with farepack etc etc. i was thinking of saving with park but have heard so many stories of people not getting their vouchers on time etc etc that this seemed like a safer option (if i had the money saved at home i would spend it on other things!)

mary43

My card says on the front Post Office savings stamps Collector Card and says on the back that stamps 'can't be exchanged for cash' so yours must be a different sort. I'll have to look into that. Be handy. When I get my pension I get a stamp (maybe not every week but most weeks) and I'm trying to get OH to remember to buy Somerfield £1 stamps every week when he gets the shopping. That way Christmas food bill won't seem so bad. I find it easier to save with stamps.............I've got a whisky bottle I put my coppers and whatever other small change I have at the end of the week and that mounts up and because I've got to empty the whole thing to get anything out I'm not likely too until it's at least half full.................lol

LJM

i saw that on friday but they will only give you vouchers and not cash

Fill_7

yup, a great idea from the post office, ruined by the fact you get paid out in vouchers rather than good old cash.

this could of been a winner for the PO, but who wants to save £500 to get it back in vouchers for outlets you might not use? ok, there is a directory of all the outlets available when applying, but why put doubt in ppls mind who might think 'i cant be sure i'll spend these vouchers at these places' and give it a miss. cash is readily acceptable everywhere. come on PO, wise up!

sammiboo

I would prefer a savings account i think, i dont want to load up lots of cash and just get vouchers in return

Fill_7

sammiboo wrote: »

I would prefer a savings account i think, i dont want to load up lots of cash and just get vouchers in return

wise indeed.

why anyone wants to use a no interest 'christmas savings scheme' is beyond m(s)e.