Post Office Instant Saver

A question about : Post Office Instant Saver

I'm having a rant, sorry. I've have an instant saver account with the post office for 5 years now, and have always paid in cheques that other people have sent me at the Post Office. Always had them made out to me, and never had a problem.

However, today I've just had one returned for Ј235! With a big stamp that says NO ACCOUNT so I rung to find out why, to be told I'm only allowed to deposit cheques from accounts that are in my name. Surely this can't be right, so I rung the general line to be told yep, it's in the terms and conditions, you can't deposit 3rd party cheques, you can only pay yourself.

I've looked back over my account to find I've successfully deposited cheques from other people about 20 times over the last 5 years. So I'm really rather angry about this. It says nothing about this on the website https://www.postoffice.co.uk/savings-...access-savings

Now I'm going to have to contact the sender to ask them to send another cheque as it's got a great big black stamp on it and I can't deposit it else where. grrrr - rant over, sorry

Best answers:

• I've just found this is the t&c's
  "17. If you make your initial Deposit in cash at a Post Offi ce®
  branch it must not exceed Ј1,000. For an initial Deposit made
  by cheque, it must be either a personal cheque drawn in your
  name from your own bank account or a cheque drawn by
  a fi nancial institution with you as the payee (e.g. a building
  society cheque made payable to you). For minors, the cheque
  may be drawn in the name of the Adult Representative.
  18. Further Deposits must be in sterling for a minimum of Ј1 and
  made by:
  (a) Cheque (as set out below and sent by post to the Customer
  Service Centre);
  (b) BACS or CHAPS;
  (c) Cash Deposits can only be made through Post Offi ce®
  branches. You cannot deposit cash through the Customer
  Service Centre or the Website. The maximum subsequent
  cash Deposit permitted is Ј10,000 per day.
  (d) If you want to set up a standing order to make Deposits
  into your Account, please ask our Customer Service Centre.
  We will not accept Deposits in any other way.
  19. If the value of any Deposit is subsequently recalled in
  accordance with the rules of the clearing or money
  transmission system through which it was made, we may
  deduct it from your Account.
  20. Cheques must:
  • be crossed ‘account payee’ and made payable to your
  name(s) as they are represented in the application form
  (for example, John Smith or Mr and Mrs A Jones);
  • have your name(s) and address(es) written clearly on the
  back together with a note of your Account Number.
  21. When we receive any cheque made payable to your Account,
  we will immediately bank the cheque on your behalf.
  22. The Guide explains how long"
  Which says to me - you have to open an account with your own cheque, which I did. But it doesn't say that further deposits have to be made from your own account!
  I'm rather confused now!
  https://www.pofssavecredit.co.uk/POF...ions_saver.pdf