Am I allowed to move my money to a newly opened account with same bank to take advantage of introductory offer?

[HauntedLittleLunatic]

I have a savings account with the Post Office. AER 1.63%

If I open a new savings account I can get 3.01% (or s for first 12 months. I would be mad not to....but am I allowed to?

From the details of their Online Saver (issue 6) [[
www.postoffice.co.uk/finance/savings-investments/online-saver/how-it-works here]]
You can make deposits to your Online Saver whenever you choose by logging into our Online Banking service and following the simple instructions to either transfer money from your debit card, an eligible Post Office savings account or from your nominated account.

Transferring money from your 'eligible Post Office savings account' means you are allowed to. Read all the information before signing up.

Cool...guess I just have to move my money annually then

Not necessarily but it pays to keep on top of the latest offers. Comparison sites such as Moneysupermarket.com are very useful for assessing whether your money is working hard for you or if it would be better off elsewhere. For example, do you have a Cash ISA? 3% on a regular savings account gets 20% tax deducted from interest at source so it's only effectively 2.4%. Cash ISAs are tax-free.

Santander are at 3.2%.
Santander 2 year ISA slightly more, plus tax saving.

Moneysupermarket is good for rates.

I have a cash isa. I don't pay tax at the moment so all my savings are tax free but I do a new isa every year to protect myself from tax when I start earning again.