Written on: 20/08/2012 by Shmig (1 review written)
I put all my savings in the Post Office Online Instant Saver account and regretted it bitterly. Originally I thought it a good idea as it had higher interest rates and it was instant banking - thinking easy access to your money whenever and wherever. However, when the time came for me to pay my property lawyers due to a house move 2-3 weeks before completion, they froze my account for 5 working days (plus an Irish Bank Holiday thrown in there) due to having changed my nominated account and would be guaranteed to be frozen a further 5 working days because the name of the nominated account was not my own. Admittedly, that was a silly mistake I made, but to try and cancel that mistake within an hour of making it proved near impossible! They seemed to be prepared to make me and my family (including two toddlers and three cats) homeless because they would not give me MY money! After numerous number of calls they managed to pay it to another of my accounts a day before completion through CHAPS and charged me £400 withdrawal fees on top of the stress! I am currently attempting to close my account with them, which in turn seems to be taking a very long time in a very long winded manner! I now seem to have no money in my Post Office account and yet I do not seem to obtain the final amount in my other bank account as expected! Where did my money go??? DO NOT USE!
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