Yes – you can open as many Online Bonds as you wish.
This is a requirement of UK legislation that is designed to comply with new US legislation known as 'The Foreign Account Tax Compliance Act'. All UK financial institutions are required to gather this information as part of account opening.
UK legislation requires UK financial institutions to collect details from customers of all countries and territories where they are resident for tax purposes and in some cases undertake further information gathering.
It is possible to have income in another country that is taxable in that country. If you are unsure please speak to a tax adviser or accountant.
If you are unsure whether you are tax resident in another country please speak to a tax adviser or accountant.
No - we are not allowed to recommend an adviser or accountant. You should speak to your accountant or legal adviser if you have one. Alternatively you could search the internet for a suitably qualified adviser or ask HMRC your questions.
Yes, in case we need to validate the information for the applicant you represent.
'TIN' stands for Tax Identification Number, being your unique reference for the country in which you are resident to pay tax. An equivalent in the UK is your National Insurance Number (NIN) or tax reference number.
It is mandatory for US Citizens or US tax residents to provide their TIN in the application form. Tax residents of Jersey, Guernsey, Isle of Man and Gibraltar should provide their TIN if they have one.
You do not need to provide any tax identification details for any other country and may tick the 'I do not have a Tax Identification Number' box.
You should only tick the 'I do not have a Tax Identification Number' box if you do not have one or are not required to provide it as indicated above.
We will hold the information you have provided and contact you if we need any more information.
We also pass on information about accounts to HMRC where required to do so by UK legislation.
Yes, simply select 'Change security number' under Savings Account Management and follow the on–screen instructions.
When choosing your 6 digit security number please make it memorable to you but do not make it easy to guess, i.e. do not use your date of birth, the same numbers i.e. 111111 or a sequence of numbers, i.e. 123456.
We recommend that you do not write down or record your User ID and 6 Digit Security Number, however if you do write these down, try and record them so that they will not be recognised by others.
The Post Office® Online Bond is designed to be managed exclusively online using our online banking service.
Online Bond accounts cannot be accessed via the telephone or any Post Office® branches.
If you have any technical queries you can call our Online Banking Support Number (0345 600 5580*).
Online Bonds are designed for longer term savers who will not need access to their savings during the fixed term.
Partial withdrawals are not permitted during the fixed term.
If you have an Online Bond Issue 1 to 8 you may close your bond early subject to a breakage fee.
If you have an Online Bond Issue 9 onwards you may only close your bond in exceptional circumstances and this may be subject to a breakage fee.
If a breakage fee is charged you may get back less than you originally invested.
When you log in to your account summary you will see both a 'Balance' and 'Available Balance' for each savings account you hold. 'Balance' is the amount of money on which you are earning interest. 'Available Balance' is the amount of cleared money in your account against which you can make withdrawals (subject to the Terms & Conditions of your account).
You can view and print–off your Bond balance online 24/7 using our online banking service. You will receive a final statement of your account after your Bond has matured. In addition to these, you'll also benefit from an Annual eTax Certificate – we'll email you when this is available to view in the Online Bank.
There are no charges for the day–to–day operation of your account.
Simply log in to our online banking service. Select 'Change Nominated Account' and follow the on–screen instructions to change your current nominated account. For your security, when you change your nominated account you will not be able to make any deposits or withdrawals for 5 business days.
You can update your email address, phone numbers and postal address using our online banking service.
If you wish to change your name, please write to us, providing evidence (i.e. copy of your marriage certificate) at Freepost RSKH–AYTT–CRAB, Post Office Money® Savings , PO Box 87, Armagh ,BT61 0BN, with your new details. Please note if you did not provide a copy of your signature during the account opening process you will need to complete a Signature Mandate at the same time – simply follow the on–screen instructions to do this
To help you manage your savings you can add a nickname to your account, for example, "money for wedding". To do this, under 'Savings Account Management' select 'Other' and select 'Change account nickname' and follow the on screen instructions.
If you have an Online Bond Issue 1 to 8 you may close your bond early subject to a breakage fee.
If you have an Online Bond Issue 9 onwards you may only close your bond in exceptional circumstances and this may be subject to a breakage fee.
If a breakage fee is charged you may get back less than you originally invested.
To request a bond closure please send us a letter confirming you wish to close your account and the reason why. We will write to you advising our decision (if applicable) and to confirm what the breakage fee is. If you are happy to proceed simply sign the form and send it back to us. We will send you the final balance, together with any accrued interest, minus any breakage charge to your nominated account.
Write to Freepost RSKH–AYTT–CRAB, Post Office Money® Savings , PO Box 87, Armagh ,BT61 0BN
Please print off any transaction histories or eTax certificates before you close your account.
For accounts held in your sole name the account may be closed and the balance of the account, together with any interest accrued up to the date of withdrawal, will be paid to the personal representatives.
Where an Account is held on a joint basis, the Account may, at the request or with the agreement of the surviving Account Holder, continue in the name of the deceased Account Holder and the surviving Account Holder.
A nominated account is a current account:
For sole Online Bond accounts: Yes – if you want to open a sole Online Bond your nominated current account can be either a sole or a joint account (to which you are a party).
For joint Online Bond accounts: If you want to open a joint Online Bond your nominated current account must be a joint account in the same names as your Online Bond account.
Simply log in to our online banking service. Select 'Change Nominated Account' and follow the on–screen instructions to change your current nominated account. For your security, when you change your nominated account you will not be able to make any deposits or withdrawals for 5 business days.
Please refer to the letter we sent you at account opening for details.
We calculate interest on a daily basis on the total balance in your account at the end of the day at the relevant gross rate (subject to your account meeting our minimum balance criteria).
Depending on the bond available, you can choose whether your interest is paid monthly or annually at account opening or on maturity:
Interest can either be paid to your Online Bond account or to your nominated account.
Gross interest is the interest credited without deducting tax. Net interest means the interest left over after tax has been deducted at the prevailing rate.
Yes – you'll benefit from an eTax Certificate each year. We'll email you when this is available to view in the online bank.
We will contact you shortly before your Online Bond matures to advise you of the options open to you and the next steps. We will typically offer you the option to invest in another Bond or we will pay the money into a Post Office® savings account.
A power of attorney will normally allow you to open or operate an account on behalf of another person.
We cannot provide any assistance on acquiring a power of attorney. Please contact your legal adviser about this.
To apply for a Post Office® Online Bond under a power of attorney, you'll need to provide your own details and the Donor's personal details too.
This includes:
You'll also need to provide:
Please note we will not agree to give anyone else authority over your Account except under an Enduring Power of Attorney or a Property and Financial Affairs Lasting Power of Attorney that is registered with the Court of Protection. Only in exceptional circumstances will we accept unregistered forms of Attorney or other third party authorities to operate the Account.
To open a Post Office® Online Bond or take over the management of an existing account under a power of attorney, please complete the relevant form, which can be found by clicking here.
A cookie is a file that provides a means for storing and retrieving information for use by Post Office® online.
If you are using Internet Explorer:
If you are using Mozilla Firefox:
If you are using Safari:
No. You will need to enable cookies on your computer.
For both technical and security purposes, the following Internet browsers are the minimum recommended when accessing the Post Office® online banking service:
If your browser is older than the minimum recommended you may need to upgrade your browser. To do this download the latest version from the appropriate site below, or contact your internet service provider for details:
Click on 'Help' on the menu bar of your browser. Select the "About...." text. Full details about your browser as well as the version will be detailed.
Our log in page is a secure page. When you log in successfully your web browser will establish a 128–bit secure socket layer (SSL) connection between your computer and our web servers.
SSL stands for "Secure Socket Layer". SSL is a protocol used to transmit information securely over the internet. The SSL encrypts sensitive information so it cannot be opened or understood by anyone other than the intended receiver.
You can see whether a web page is secure in two main ways:
To reduce the risk of your User ID and password being guessed by a fraudster we limit the number of attempts allowed to enter the information to 3. After 3 unsuccessful attempts to provide the information we disable access to your accounts online. To re–enable access simply call us on 0345 600 5581* – if you require a new User ID and/or 6 Digit Security Number we will send these in the post and they will arrive separately within 4 business days.
One of the security mechanisms we use to protect our systems and your information is called a firewall. During your secure online sessions, firewalls prevent unauthorised internet traffic from entering our website.
To protect your accounts against unauthorised access, we automatically terminate a secure online session if extended inactivity is detected. If this happens you will need to log in again to continue.
In order to effectively counter the latest security threats, we ensure that our systems are constantly updated to maintain the security of your accounts
Always ensure that your PC is updated with the latest anti–virus software. This will allow you to scan your files and emails for viruses, trojan horses and other harmful programs. If these are found the anti–virus software is designed to heal or remove the harmful material.
Any computer or device connected to the internet should be protected by a personal firewall. Firewalls will help protect your computer by creating a barrier between your computer and the rest of the internet.
Most web browsers display a "padlock" icon somewhere in the window of your browser. Click (or double–click) the "padlock" icon of your web browser to see the details of the site's security.
Operating systems and software need to be regularly updated as new patches and functionality is made available – often these updates are specifically designed to fix security weaknesses in the operating system or software. You can normally either set your system to automatically check for these updates or can do so yourself manually.
Spyware and adware are programs that monitor your internet activity and potentially transmit information to fraudsters.
Most web browsers let you block pop–ups in the security options.
Clear your browser's cache and history after each session so that your account information is removed, especially if you have used a shared computer to access Online Banking.
Make a habit of reviewing your account statements and transactions regularly. This means you may spot any unusual transactions or irregularities sooner. Please call us on 0345 600 5586* if you identify suspicious transactions.
We will never email you asking you to enter or confirm your security details. If you receive an e–mail claiming to be from the Post Office® asking for account information, do not respond to it. Instead please let us know immediately by calling us on 0345 600 5586*.
For more information about how to keep yourself secure online why not visit www.getsafeonline.org or www.banksafeonline.org.uk
If you need to make a complaint, please contact us and we will do everything we can to resolve your complaint as quickly as possible, but please allow up to 5 business days for a reply. When we first write to you, we will send you a summary of the procedures that we will follow when resolving your complaint. A copy of these procedures is also available on request.
You can make a complaint by calling 0345 602 3409* or writing to us at: Customer Care Team, Post Office Savings, PO BOX 27, One Temple Quay, Bristol,BS99 7AX.
If you are not satisfied with the response to your complaint, you may be able to refer it to the
Financial Ombudsman Service (FOS). Making a complaint won't affect your legal rights. You can contact the FOS by:
Post: The Financial Ombudsman Service (FOS), South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
Phone: 0800 0 234 567
Email: complaint.info@financial-ombudsman.org.uk
Web: www.financial-ombudsman.org.uk
Your eligible deposits with Bank of Ireland UK are protected up to a total of £75,000 by the Financial Services Compensation Scheme,
the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: 'Bank of Ireland (UK)' and 'Post Office Money'and savings accounts under the 'AA Savings' brand provided by Bank of Ireland UK.
Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please click here for further information or visit www.fscs.org.uk