Post Office Instant Saver Review

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1.1 stars
Average rating for this product is: 1.1 out of 5

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elmbeard's Review of Post Office Instant Saver

9th Nov 2007

Overall Rating

0 stars
  • Value for money
    0 stars
  • Type Of Account
    Easy Access
Good Points

Excellent rate. Simple form to fill in. Reputation and security of Post Office and Bank of Ireland (but see below)


Bad Points

Complete incompetence of the identity verification process. Poor Customer Service lacking responsibility, courtesy or integrity. Possibly fraudulent.


General Comments

On four occasions they messed up the paperwork over identity verification despite all the correct documents being produced at two separate Post Office counters. Customer Service comprises a lot of jobs worths who are incapable of making a decision and will not put the customer through to anyone who can. Most seriously, they cashed a cheque for a large amount of money, and then told me after six weeks that if the account application failed, I would lose interest on the money sitting in their coffers all this time. This is certainly sharp practice, and most probably fraud. They seem in no hurry to resolve the situation, and happy to keep passing the book between the Bank of Ireland and the Post Office. The only letter I received in explanation told me they were giving themselves at least 8 weeks to offer a progress report, and that an advisor not a manager would be handling my case. It is a shock indeed to find institutions such as the British Post Office and a national bank sinking to levels normally expected in the back streets of Chicago. No wonder Post Office employees went on strike if they too are victims of the new ways of doing things. Heaven help us if this new morality spreads throughout the whole civil service! I hope that I can report a better experience soon, but in the meantime I advise to stay well clear. Go with a mutual like Nationwide whose bosses are the customers.

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
NatWeste-ISAAvailable to existing Natwest Customers Only. The longer you save the more you can earn, save up to £3,600 in a tax year. See site for details.Monthly2.00%N/A
AbbeyDirect ISASave from just £1 to receive 2.00 AER (variable) tax free.Annually2.00%N/A
NatWestCash ISAAvailable to existing Natwest customers only. Transfer your previous years ISA's into this great cash ISA. Earn up to 2.0% AER tax free.Monthly2.00%N/A