Post Office Instant Saver Reviews

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Post Office Instant Saver
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Latest Reviews

“For sanity sake”

★☆☆☆☆

written by cortinaGT on 03/12/2019

This incompetence for the Belfast call centre is beyond a joke now.Its MALICIOUS and considering a police matter of a Hate Crime against a frail health pensioner.Twice over a few years i simply asked for ONE copy of my Aug to Nov statement.....Great laugh that the cretins think its funny to send a whole load of 10 / 11 packed envelopes of my entire statement history...not opened to be used as evidence. And they cant even get my address correctly spelt.....or know what my pevios address was now.........Please do not ever consider this account.Alot Worse than TERRIBLE

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“Transfer money lost over 1 month”

★☆☆☆☆

written by Mathew466 on 19/03/2018

I opened the account and was send a letter which i thought was for my account number and sort code but it was instead for my nominated account number I wasnt given a account number or sort code for Post office so i transfered £10,000 on 26/2 thinking it was send to the post office but instead it went to my nominated account back to my current account all because post office didnt give me the write information I have lost nearly 1 month of interest and 2-3 hours making phone calls writing a letter to the post office no one got back to me all that time today i called them they said because no money went into my account my account has been closed on top of everything I think its their mistake i was not sent a letter when i opened the account stating my new account number and my new sort code which i need to make transfers too I have other online bank accounts and each one has sent me these details when i opened with them. There Customer service is bad there response back time is bad if ever and there web page for accounts is bad also not revealing your account number is very confusing I wont be using them in the future

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“interest rate and supposed ease of access”

★☆☆☆☆

written by OLEGRUMPY on 04/02/2016

Due to the banking guarantee being reduced from 85k to 75k last December,We looked to move some money to a safer place.This Instant Saver account seemed ideal as it could be operated by phone,post,in branch and online.I first completed a form online because my local post office didn't have any application forms.This was done in December and over the past few weeks I have received 2 paying in books,confirmation of account and 2 atm cards,but no security number which is required whenever I wish to do anything with the account. So at this stage I can pay money in but only withdraw a small amount at a post office.On Tuesday(2nd Feb) I received a phone call at 6.45 pm from someone at post office savings respoding to an email enquiry I made on 20/01/2016. Bearing in mind that my wife & I are in our late 70's together with the fact that I am hearing impaired you can imagine how difficult that conversation was! I have today requested that my deposit be refunded so I wonder how long that will take? I agree with some other comments----Leave this account alone it's not worth the bother.

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“Do not invest in this terrible organisation ”

★☆☆☆☆

written by Addison1947 on 04/12/2015

Do the Post Office Management not know what is happening within the Savings arm of their organisation. I have worked in Financial Services for 34 years and have never encountered such level of incompenence from the start to finish. Both myself and my husband opened savings accounts on the same day with exactly the same information of the application forms and sent off out cheques. Oh god how i wish i have never went near them the stress they caused me was terrible. They opened my husbands account but asked me to have my documents verified at the nearest Post Office I did this sent the certified information off and they still would not open my account. In the end after numerous telephone calls, receiving incorrect correspondence, i could go on I just wanted my money back. After 6 weeks I got my funds back into my account with no interest paid, I was told by a member of management that under the circumstances that interest would be paid. I logged all my concerns as a compliant. Surprise Surprise after the complaint was acknowledged I have heard nothing back this is almost 10 months after the complaint was logged. But I do not want to deal with them again, they are a fractured organisation with incompentent rude staff who have not been trained properly. Guess what my husband is having serious problems getting his money back.

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“worst bank ever”

★☆☆☆☆

written by AsherBarrett on 01/03/2014

Absolute nightmare bank.its got one star because I cant give it less its taken nearly eight months to try and get access to the £1600 pounds in this account. It was after being given the run around by this joke irish bank im nearly able to withdraw my money. Ireland must be in a right old state to have these idiots working for them the call centre staff are rude and unhelpful and now to see on the tv there offering mortgages id rather use a bank in the third world ..... be warned do not use this bank ........

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“On maturity, getting your money out is a run around!”

★☆☆☆☆

written by econaware on 16/10/2013

A 2 year bond matured, the money goes to an easy saver but you can't transfer it because you have to set up a 'new' nominated account and that takes FIVE working days even though it's the same nominated account as on the 2 year bond and you didn't set up the easy saver, they did. Then, after I set up the nominated account, for some mysterious reason my security number stopped working and they want to send me a new one 'by the post office snail mail'. I thought that was a nice touch! That should give them a further month of holding my money. I baulked at that and the woman tested my number and said it still worked so I logged on while she was still on the phone and surprise surprise, it worked. So I transferred out everything. That was 10 mins ago, I still have to wait 3 to 5 days to see if it gets to my account. Three to Five days for an inter-bank transfer! It's a disgrace! They are deliberately seeking to frustrate. Don't use them! You've been warned! Post Office Bank of Ireland, forget it!!!!!!!!!!!!!!!!!!

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“Dont, Just Dont”

★☆☆☆☆

written by Sujo_4 on 29/08/2013

I have today made a simple error by accidentally transferring funds into my newly opened account twice. Having spoken to the representative on the 0845 number he could clearly see the error but claimed it could not be corrected. Thankfully having explained the problem to a "real bank" (Nat West) they have offered to assist in claiming these monies back should the transfer go through. Once corrected the Post Office account will be closed.

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“TERRIBLE SERVICE”

★☆☆☆☆

written by on 12/08/2013

Why call it a 'Post Office' account if you cannot access at a Post Office? Terrible service and attitude from telephone contact; need to jump through numerous hoops to access my money from an 'instant access' account.

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“Avoid the post office/bank of ireland.”

★☆☆☆☆

written by theviewfromhere on 11/07/2013

I took out a 3 year growth bond with the post office, i did not know the bank of ireland were involved at the time,about a month before the maturity date i received a letter from the post office asking me what i would like to do with the matured funds,i decided to have them payed back into my nominated account and informed them of my decision they confirmed my decision by post and told me the matured funds would be payed back into my account the day after the maturity date 9/07/13.It is now 2 days after they told me the money would be in my account no sign of it so i was on the phone to different people for about 1 hour today at expensive 0845 numbers,and i feel i have been treated like an idiot i have been told my money should be in my account by next tuesday 16/07/13 7 days late the excuses given for the delay have been anything from that they are busy to there is a bank holiday in n, ireland tomorrow i asked if i would be getting compensation for the delay,there answer put the request in writing,customer service 0.I believe the withholding of your money to be an illegal act by the bank of ireland i believe the fso should get involved investigating this rabble of a bank,and if the post office do not ditch them they will be losing many customers,i put my money in the english p.0. why should an irish bank holiday stop me getting my money.they had 3 years to sort this bond out and failed.i asked them today could they not do a online transfer instantly like many millions of pounds sent every minute from banks,they told me they dont do business that way i agree all they do is illegally withold your money.AVOID AT ALL COSTS

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“Non-existent Customer Service”

★☆☆☆☆

written by KeithU on 22/05/2013

I have an Online Saver account which is cumbersome inasmuch as it requires a feeder account and takes 5 days for money to be transferred in or out of the savings account. My main criticism, however, is the complete lack of customer service. I emailed a query to the website 9 months ago (August 2012) and, despite receiving an automated reply promising action within 5 to 10 days, I am still waiting for their answer. Two weeks ago I was unable to transfer money from my Feeder account into my Saver account as, I was informed, a Direct Debit had not been set up allowing me to do so. I have never set up a Direct Debit and yet have been able to pay into my account on several previous occasions. Another email to Customer Services, another automated reply, followed by exactly the same response to my query.....nothing! The anniversary of my bonus rate is approaching and I will definitely be transferring my money to another bank/building society even if I take a reduction in interest rate. I wouldn't recommend the Post Office savings to anybody.

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“Avoid this account!”

★☆☆☆☆

written by on 26/02/2013

Absolutely terrible service with completely incomprehensible procedures and policies. I've spent around three weeks now trying to access my money with no success, and don't appear to be any closer to getting my hands on my own cash. At every point I've been obstructed - each time I think I'm closer to actually withdrawing my money they have thrown another obstacle my way. My account has now been frozen for five days on two occasions for no good reason (any small change to the account automatically triggers a five clear working day freeze on the account) and there has been no flexibility, transparency or warning over when a freeze is likely to happen or why. My written complaints have been met with silence, post office branches cannot help at all (and tell me they are not allowed to contact the banking arm of the Post Office themselves) and the call centre has veered from aggressive to helpless to broadly apologetic (although still unwilling/unable to resolve the problems). Avoid at all costs - unless you fancy an account that resembles a farce written by Kafka.

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“Appalling - never again”

★☆☆☆☆

written by on 25/07/2012

Post Office paid 2 pence interest on an Online Saver with a balance of between £800 - £4000 over a period of 8 months, and a supposed interest rate of 3.01% gross. Having asked them to check their calculations, it took them 11 weeks to respond that they had identified the interest was incorrect (took me about 2 seconds). They stated the interest was being calculated and would be paid within 10 days, also offered £35 compensation provided I signed a declaration that I would take no further action against them. I replied stating that I accepted the compensation but would not sign and return their declaration until the correct interest had been received. 2 months later, and still waiting for the interest. No reply whatsoever to two further letters I have sent reminding them that I have not received the interest. Have now complained to the Ombudsman. So silly, as it could all have been sorted out in a matter of days with any competent organisation. Never again - zero trust in their ability to operate as a financial institution or their customer service.

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“beyond awful”

★☆☆☆☆

written by gramail on 20/07/2012

From opening the account, to trying to get money out, to trying to get them to acknowledge my mails and letters, to closing the account, every step of the way was dogged by a level of incompetence and obstruction which was so pervasive and multi-layered that it must have been built into the system from the start. I could write a book, but suffice it to say that the catch 22s they create are built into their procedures and no body you can get through to has the power to circumvent them. I've never encountered such ignorant, hostile and unhelpful customer service and even when you find one who is not a total moron they seem powerless to help. It took me six weeks of persistence to get them to close the account. My local Post Office was so appalled by the treatment I'd received that the manager phoned the Savings people for me herself, but after half an hour going round in circles admitted that it was impossible to get any sense out of them. I had to pay to send a Recorded Delivery to them threatening them with the Financial Ombudsman to get them to even answer. But in fact the FO procedure is useless in practice. DON'T GO NEAR THEM YOU WILL REGRET IT!

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Bella22's Response to gramail's Review

Written on: 22/02/2013

Same experience as you and i rate them a nightmare, they take no notice of letters or phone calls and the post office who open the account for you and take your savings want nothing to do with it! still trying to get them to close the account for me and to reinburse me the money. I have had to get the financial ombudsman onto them. IF YOU WANT MY ADVISE IF YOU WERE THINKING OF OPENING AN INSTANT SAVER WITH THEM SERIOUSLY RECONSIDER IT!

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“POST OFFICE ONLINE SAVER !!!!! DON,T GO THERE! ”

★☆☆☆☆

written by on 24/05/2012

WOULD NOT RECOMMEND , THEY TAKE YOUR MONEY AND ITS A FIGHT TO GET YOUR OWN MONEY BACK , WAIT 5 DAYS THEN WHEN YOU TRY AGAIN , ACCOUNT SUSPENDED FOR 5 WORKING DAYS . ONLINE WEBSITE A MISH MOSH. CALLED 0845 NUMBER FOR HELP , ENCOUNTERED RUDE MAN WITH ONE WORD ANSWERS AND LONG SILENCES , HE DIDNT WANT TO KNOW. PLEASE THINK AGAIN IF YOUR THINKING ABOUT BANKING WITH THEM. WORST ONLINE BANK IVE EVER ENCOUNTERED!

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Gramail's Comment

Written on: 20/07/2012

Agree 100%. I also couldn't get my money out or access my account in any way so decided to close the account. Took nearly 2 months to achieve this, lost track of the phone calls and letters and unanswered mails in that time. They still write to my old address despite 3 reminders that I have moved. Totally incredible that these amateurs are allowed to operate a savings business!

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“absolute rubbish,0.1% after signing up for 5%. then...”

★☆☆☆☆

written by on 21/05/2011

absolute rubbish,0.1% after signing up for 5%. then been trying for 3 months to get my money out,first at counter at post office, told i could not remove it there. had to phone and then write still nothing, they throw every excuse not to give it to you. DO NOT PUT ANY MONEY INTO THIS ACCOUNT ITS A RIP OFF !

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“Do not, under any circumstances, have anything to do...”

★☆☆☆☆

written by Doctor of Letters on 12/03/2011

Do not, under any circumstances, have anything to do with this company. My late father held an account with them, & they repeatedly lied, obstructed & acted with stunning levels of callousness & incompetence, when it came to the probate process. To cap it all, instead of sending a cheque for the closing sum after submitting the probate grant, they sent my father a letter thanking him for sending 'the details of his new address.' This arrived four months after his death. I can only conclude that the Post Office/Bank of Ireland is a refuge for the most shockingly cruel, incompetent & corrupt employees on this earth.

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“I do not even want to give the post office 1 star!...”

★☆☆☆☆

written by on 23/02/2011

I do not even want to give the post office 1 star! Stay clear customer service adivsors are no good and do not do what they say they will. opened account start of feb, supposed to doc's 3 - 5 working days, end of feb now no documents, 3 phone calls and 1 complaint later, still nothing!

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“I have an instant saver with the Post Office, They...”

★☆☆☆☆

written by duncandunnit on 11/01/2011

I have an instant saver with the Post Office, They give you an instant saver card so you can use an ATM. They say you are allowed to use the card for 6 transactions a year for free, but after that they charge a pound per transaction. Any way, I found since day one, while using the card at sainsbury atm (which sainsbury say they do not charge for this service) I get charged a pound a go by the post office. What a scam.

Also on the post office website, try looking around to see a page that will list bank charges haha, not eassy to find, they do have an 0800 number but that is not free.


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“Feel like I dodged a bullet here. I filled in the form...”

★☆☆☆☆

written by on 16/12/2010

Feel like I dodged a bullet here. I filled in the form online and sent off my documents, including the cheque. A few weeks later when I had heard nothing I phoned the call centre. I was informed by the woman I spoke to that they had no record of my application. I repeatedly asked her to check again as I was concerned how all of my personal information had managed to get lost. Half an hour later she still could not find it and was about to put the phone down on me when I asked to speak to a manager. The same girl came back a while later saying there was noone to speak to me but that she had checked 'another system' and found my details.

Apparently, even though it was a joint account I was opening, the cheque needed to be made out to just my name and this was the problem with the application. As absolutely stupid as that is, I asked only why noone had informed me of this. She quite rudely told me that a letter was in the post. 3 weeks later I'm still waiting for that letter!

With interest rates as low as they are, there is absolutely nothing to be gained by dealing with clowns like this. The lost enough of my information to make me a victim of identity fraud, were rude about my request for them to find it and never followed through on their promised letter.

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“i transfered 500 pounds in it. Unfortunately they do...”

★☆☆☆☆

written by on 09/11/2010

i transfered 500 pounds in it. Unfortunately they do not allow to add decimal numbers in the request so i typed 500.00 as you normally would.
THEY TRIED TO WITHDRAW 50,000 from my account!!and i now need to pay for fees from my bank for not having those funds. DISGRACE!!

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Our helpful community of likeminded people will be happy to answer any questions that you have.

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Asked by russ1021 on 4th November 2016 Report this content
What documentation do I need to open an account?

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Asked by grandore on 18th February 2014 Report this content
Can I use the cashcard connected to an Instant Saver account at any High Street ATM for withdrawals or just at the Post Office counter?

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Answers (2)
Report this content gramail Written on: 20/02/2014
Yes, after you have jumped through some hoops to enable this. But please spare yourself a lot of misery and open any other account instead. If there is no other bank which will have you, keep your money under the mattress rather than joining the Post Office. At least read the 29 negative reviews on this site before you entrust any savings to those incompetent nitwits!
Report this content grandore Written on: 20/02/2014
Thanks for your advice. Will find another account to deposit in!
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