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Post Office: Savings reviews

Name: Savings
Rating: 1.79 (43 reviews)

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1.53

Based on 43 reviews, last reviewed 12th Jan 2025

No new 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

12%

3 star

72%

Latest highest rating:

4

Mostly solid Good, had a competitive interest rate and I mostly had no issue with the account. Website was very basic but did the job fine. The only issue I had wa... Read more Reviewed on: 5th April 2024

Latest lowest rating:

1

Poor experience Opened an online saver, took 2 weeks to get a wotking PIN. Then tried to transfer money from the nominated account and got message saying 'don't allo... Read more Reviewed on: 12th January 2025

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Post Office Savings reviews (43)

Review of the Post Office, Savings:

Incompetent system failures

Trying to open a joint online savings account: I got all the way through the application process with no problems to the very end, when I was asked to provide a 6-digit security number for each of us. The number simply would not enter; no matter what I tried it would only take 3 digits and no more. If I tried to accept the randomly-generated number offered by my browser, it reduced it to two or one digits. With no other way forward I got on the phone and described my problem (which I had to explain several times). The assistant suggested I try refreshing the page. Unfortunately when I did that I lost the two User ID numbers we had just been given, as a blank screen came up saying 'We are experiencing a technical failure'. I asked the assistant if she could access the User ID numbers for us, but she couldn't. She suggested sending out two security numbers by post, so we had to wait 5 days. When they arrived, of course there was no ID number on the letters, so I was still unable to access the account to set them. I got on the phone once more, and the assistant suggested I at least look at one of the security numbers by peeling off the black strip. Second problem: There is no number there. They have sent out two sheets of A4 paper under separate cover, both with a plastic strip with a black pattern on it. I thought I might start again from scratch. But now the system has our details it is asking for my security number. I tried clicking on ‘Forgot login details', but that will just involve waiting another 5 days for another pair of blank sheets of paper. So we will put our money elsewhere. Reviewed on: 21st July 2023

Great Incentive

Great inventive to open a savings account. Monthly prize draws to win cash & store vouchers. At a time when there are so many uncertainties about savings Post Office has compelled me to open a savings account with them. Reviewed on: 11th July 2020

Unable to renew a maturing bond

I invested £40000 in a two year bond.Two week prior to it maturing I received an email inviting me to reinvest the bond.Unable to do this online.Tried twice to set up the bond with post office over the phone.On both occasions was told the bond would be set up.On each occasion receive further emails saying that I had not re invested my maturing bond.Latest email now states that the post office has put my maturing bond in a savings account with 0.1 % interest. Appalling amateurish service from the post office Have a complaint in process but to be honest no idea if this is being processed as the post office does not have an email address and do not send out emails to confirm any actions other than the automated incorrect emails. clearly their must be more efficient investment companies that look after their customers correctly Reviewed on: 15th June 2020

Post Office/Bank of Ireland Online account

Having invested, through PO savings, for the last three years with an annual fixed rate bonus my online savings account needed to be renewed in December 2019. Imagine my surprise when whilst renewing I was advised that they would have to confirm the source of my investment, when I was simply transferring money within their banking department. It took them nearly two weeks to open the new account during which time the money earned .25% They declined my formal complaint, I went to financial ombudsman and bingo they accepted my complaint and paid me for lost interest, but nothing for time wasted recovering what was mine..... Avoid them at all cost, moral of story, I’ve got my lost interest now I’m moving all the money to somewhere else!! Reviewed on: 18th March 2020

Renewing savings account

Getting a new savings account was a little problematic as I wasn't able to withdraw money from my previous one. I had to call up Bank of Ireland customer services 3 times, but the staff there were so pleasant and helpful, and I didn't have to wait in a stupid, lengthy queue. Reviewed on: 21st November 2019

Terrible...

... opened a Loyalty Saver account. Realised Key Facts summary sheet I'd downloaded showed a higher interest rate to the one showing online. Rang to check - told probably a misprint. A misprint, on a document that surely is part of your contract with PO? I asked to cancel account - suggested I could do this online. Yet online it tells you to ring or write in to do so. I tried to take money out of the account online, but it said due to account changes I couldn't do this until 1 working day had elapsed. I tried again after 1 working day, only to now get an onscreen message saying I couldn't do this for 8 calendar days. Under FAQs, under "I've paid money into my account, how long until it's available?", the answer is "Immediately", if the money was transferred in from another Post Office Money Savings Account, which this was. It's now 9 days since I opened this account online, and I still am unable to access my money to move it elsewhere. So much wrong information and so many inconsistencies; I'm going elsewhere, if only they'll let me have my money back. Reviewed on: 18th November 2019

Savings accounts.

7 weeks ago I tried to open a new savings account. I received an email confirmation and then nothing. I phoned to enquire and was told that the checks could take ten days. I had no more contact but was unable to access my account and therefore my funds. During three further phone calls I was passed from person to person and twice ended up waiting for the technical department to contact me. No more contact. Finally today the customer representative provided me with a new pass number ( why could no one else do this?) and I am able to access my account. I still haven't managed to open a new account, I was offered £30 compensation, which I haven't received and I am now in the process of moving my accounts to another provider. Reviewed on: 1st October 2019

Savings Bonds - okay rates, ZERO service

Their online bond only gives you access online, no telephone or counter service possible. Go online and it tells you nothing at all about your account except that you have a certain amount of money in there. No service possibilities, no history, no way to contact them no information on interest paid or when, or how. Nothing. Nothing about how to close the account either All you can do is log on and see that you deposited some money with them. 11 months and 25 days in I have still not received any interest payments (should be monthly) and I do not know if I can get my money out when my bond matures (6 days from now). No email contact. No phone contact. TERRIBLE service. DO NOT USE. Reviewed on: 11th February 2019

Two weeks to transfer money from linked account

I signed up for the online saver account, and linked it to my current account. I chose to transfer an initial amount on opening, but nothing appeared. The following day, still nothing, so I tried again, ... Nothing. I phoned the support, for through the maze of options to be told the obscure way to check online when my money would appear in my savings account. My savings account showed that it would take two weeks before the money from my linked account would appear in my savings account. That's an unacceptable time for an online transfer, so closed my new account and looked elsewhere for account linked by something faster than a sloth! Reviewed on: 15th December 2018

Branch is open

I opened an online savings account but needed to contact to go to the Post Office to submit my security checks. Unlike so many banks I can still do this in my local small town. Quick and efficient service - a convenient product that actually seems to care about individuals like me who don't want to have to travel 20 miles each way to visit a branch to get service. Well done Post Office! Reviewed on: 6th January 2018

Bad experience.

Although the proceeds from the sale of my house were transferred immediately by CHAPS into my Post Office Online Account it took another 7 days for the monies to appear in my Account. I am still awaiting a response from the PO to explain where the monies went! Reviewed on: 8th November 2017

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