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  • innovate
    • #2
    • 29th Jan 13, 5:13 PM
    • #2
    • 29th Jan 13, 5:13 PM
    No s**t Sherlock.
    • veryintrigued
    • By veryintrigued 29th Jan 13, 5:56 PM
    • 2,748 Posts
    • 2,317 Thanks
    veryintrigued
    • #3
    • 29th Jan 13, 5:56 PM
    • #3
    • 29th Jan 13, 5:56 PM
    This article isn't giving us much extra info or exactly 'fighting our corner' IMO.

    I'd like some champagne for raising this on here some three weeks ago.

    (Or chocolate)

    Cheers
  • JemimaPuddleduck24
    • #4
    • 29th Jan 13, 6:27 PM
    • #4
    • 29th Jan 13, 6:27 PM
    please correct me if I'm wrong but I don't think it makes much difference when they told me. I opted for annual interest to get the better deal so as I understand it I can't switch my account til 12 months is up anyway as I wouldn't get any interest?

    Just for info purposes. I got my email from Post Office on 23rd Jan.
    • gwapenut
    • By gwapenut 29th Jan 13, 8:48 PM
    • 945 Posts
    • 392 Thanks
    gwapenut
    • #5
    • 29th Jan 13, 8:48 PM
    • #5
    • 29th Jan 13, 8:48 PM
    No, you'll get your interest pro rata until the day you leave
    • pennymakespounds
    • By pennymakespounds 29th Jan 13, 9:15 PM
    • 1,464 Posts
    • 288 Thanks
    pennymakespounds
    • #6
    • 29th Jan 13, 9:15 PM
    • #6
    • 29th Jan 13, 9:15 PM
    i've been caught with this as well.

    Guess one easy solution is just to open the "post office instant saver " account ... currently 2.1% and transfer the money in to it.
    • Gordon the Moron
    • By Gordon the Moron 29th Jan 13, 10:28 PM
    • 1,452 Posts
    • 739 Thanks
    Gordon the Moron
    • #7
    • 29th Jan 13, 10:28 PM
    • #7
    • 29th Jan 13, 10:28 PM
    please correct me if I'm wrong but I don't think it makes much difference when they told me. I opted for annual interest to get the better deal so as I understand it I can't switch my account til 12 months is up anyway as I wouldn't get any interest?

    Just for info purposes. I got my email from Post Office on 23rd Jan.
    Originally posted by JemimaPuddleduck24
    You are wrong

    If you leave the account open but move the money you'll earn the interest at the end of the year, so lets say you put 1000 in the online saver at 2.1% and have it there for 6 months, you will earn 10.50 interest (half of 2.1% interest because its only there half the year)

    If you close the account before the year is up, you will get any interest due paid on closure.
    If you don't like what I say slap me around with a large trout and PM me to tell me why.

    If you do like it please hit the thanks button.
    • badger09
    • By badger09 29th Jan 13, 10:34 PM
    • 6,889 Posts
    • 6,493 Thanks
    badger09
    • #8
    • 29th Jan 13, 10:34 PM
    • #8
    • 29th Jan 13, 10:34 PM
    This article isn't giving us much extra info or exactly 'fighting our corner' IMO.

    I'd like some champagne for raising this on here some three weeks ago.

    (Or chocolate)

    Cheers
    Originally posted by veryintrigued
    Thank you

    • The Bookman
    • By The Bookman 30th Jan 13, 5:45 AM
    • 51 Posts
    • 31 Thanks
    The Bookman
    • #9
    • 30th Jan 13, 5:45 AM
    • #9
    • 30th Jan 13, 5:45 AM
    Before I jump ship as a result of this "Online Saver issues 1 to 8 tumbled from 1.65% to 1.15%.", I vaguely recall that there was a bonus linked to this which brough the rate to just over 3% (I took the monthly interest option).

    Can anyone recall/confirm that, and if so, what does it make the rate now? I'd guess it's still better than the 2.1% Instant Saver they're offering now?
    If in doubt - do something. (With fond memories of Harry Chapin)
    • roddydogs
    • By roddydogs 30th Jan 13, 6:16 AM
    • 6,211 Posts
    • 2,638 Thanks
    roddydogs
    Yup 2.7%...............still better than you can get elsewhere for I.A.
    • Laff
    • By Laff 30th Jan 13, 10:29 AM
    • 13 Posts
    • 2 Thanks
    Laff
    Got my email on 23rd at 21.48!
    Had just invested a windfall and now I'm going to take it all back out again!
    How annoying are those websites which are online only but then send you forms in the post and want the first payment as a cheque, eg BM, the current top IA provider.
  • EALSB
    Shocking!
    Does the Post Office assume that everyone buys a daily newspaper? To make such an announcement such as this in such a way is appalling customer service. I received my e mail from them on the 23rd January.
  • Dicky
    I've just got off the phone to the Post Office after enquiring what the interest rate on my 'Online Saver Issue 5' had changed to. The woman on the phone told me that it was still at 3.17% as they had revoked the change in interest rates due customers not being informed properly about the change in rates.

    She went on to say that I will receive an email 14 days before any change in the future to the interest rates.
    WrexhamPCRepairs.co.uk
    • SnowMan
    • By SnowMan 30th Jan 13, 5:12 PM
    • 3,182 Posts
    • 5,923 Thanks
    SnowMan
    Interesting stuff. Worth keeping an eye on their interest rate page to see when that gets updated (currently showing the reduced rate of 2.67% AER).

    http://www.postoffice.co.uk/interest-rates#Online%20Saver%20Issue%205%20-%20annual%20interest

    I think they should credit everyone's account with 1 for not giving enough notice the same as you have to pay as a penalty charge when the sender hasn't put enough postage on a letter.
    Last edited by SnowMan; 30-01-2013 at 5:26 PM.
    I came, I saw, I melted
  • BankMan
    I sent the PO and email on 14/01/2013. Guess what? No reply!!
    • boo-hoo
    • By boo-hoo 30th Jan 13, 6:53 PM
    • 27 Posts
    • 6 Thanks
    boo-hoo
    Post Office inability to communicate
    So glad MSE have reported the Post Office. I sent a letter of complaint and received a curt reply stating they had advertised in The Daily Mail and The Telegraph. I personally don't think adverts in just 2 newspapers constitutes " informing savers". My letter stated if I was unhappy I could close my account. Guess what letter was in post same day.
    • veryintrigued
    • By veryintrigued 30th Jan 13, 7:07 PM
    • 2,748 Posts
    • 2,317 Thanks
    veryintrigued
    I've just got off the phone to the Post Office after enquiring what the interest rate on my 'Online Saver Issue 5' had changed to. The woman on the phone told me that it was still at 3.17% as they had revoked the change in interest rates due customers not being informed properly about the change in rates.

    She went on to say that I will receive an email 14 days before any change in the future to the interest rates.
    Originally posted by Dicky
    Anymore details here please? Was she specific to your account all was she referring to all accounts? Also I guess she didnt any indication for how long this would be at this 3.17 level for?
  • Dicky
    Anymore details here please? Was she specific to your account all was she referring to all accounts? Also I guess she didnt any indication for how long this would be at this 3.17 level for?
    Originally posted by veryintrigued
    I have had my account for less than 12 months and it is the 'Online Saver Issue 5' account so I assume that 3.17% is specific to that account and including the bonus for the first twelve months.

    Give them a call on 0845 602 3409 if you want to know what your rate is.
    WrexhamPCRepairs.co.uk
    • veryintrigued
    • By veryintrigued 30th Jan 13, 7:34 PM
    • 2,748 Posts
    • 2,317 Thanks
    veryintrigued
    I have had my account for less than 12 months and it is the 'Online Saver Issue 5' account so I assume that 3.17% is specific to that account and including the bonus for the first twelve months.

    Give them a call on 0845 602 3409 if you want to know what your rate is.
    Originally posted by Dicky
    Yes its specifically this account that I'm interested in.

    There is a long thread about it here:

    http://forums.moneysavingexpert.com/showthread.php?t=3982243

    I guesss we need more clarity here. Maybe the MSE guys might be able to give us a hand?

    Thanks for the heads-up - seems a bit more digging is required....
  • Dicky
    Yes its specifically this account that I'm interested in.

    There is a long thread about it here:

    http://forums.moneysavingexpert.com/showthread.php?t=3982243

    I guesss we need more clarity here. Maybe the MSE guys might be able to give us a hand?

    Thanks for the heads-up - seems a bit more digging is required....
    Originally posted by veryintrigued
    If you have had the account for less than twelve months, then your interest rate will be 3.17%.
    WrexhamPCRepairs.co.uk
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