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NatWest have lost my Icesave Reinstatement Cert - what do I do?!

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I was a happy Icesave ISA customer with many years worth of ISA contributions until... they went bust!

The FSCS compensation scheme went very smoothly and I was able to transfer the entire balance into my NatWest e-Savings account. I soon after received my Icesave Reinstatement Certificate which would allow me to transfer this money into another ISA before 5th April (since extended to 5th Oct) and keep its tax free status.

At the end of February I opened a NatWest e-ISA, since it had now started to allow transfers in and was offering a good rate of interest.

6th March - I went to my NatWest branch with my completed transfer form, Icesave Reinstatement Certificate and photo ID. I was then assured that it would be sent by internal mail to the appropriate e-ISA department and I would then receive confirmation of receipt within a couple of days. (The fact that the transfer form did not actually show that the money was now in my e-Savings account seemed OK with the bank staff - I was told that the e-ISA people would contact me directly for this information!?)

Unfortunately that is as far as the transfer process got! Yes - nowhere!! And no-one has any idea where the documents (and importantly my Reinstatement Cert) have gone!! The money only had to go from 1 NatWest account to another - what could go wrong?!

I had tried to contact them by phone several times, received a letter stating that the matter was being 'investigated' and have today (8/4/2009 - 34 days later) received the final nail in the coffin:
Since I wrote to you on the 31st March 2009, I have now fully investigated your complaint.

I write to advise that we have unable to locate the paperwork you handed into the branch on the 6th March 2009. We have been in contact with our Central Tax Unit and they also have no record of your request to transfer your Ice save ISA balance to your new E ISA Account. They have advised that the only option available to you would be for you to advise H M Customs & Revenue, providing as much proof as possible of the Ice save Account, copy statements and any letters that you may have. ....
(Exactly as written - typos/mistakes courtesy of NatWest)

They want me to do what?! Whose fault is it?! The last time I tried to contact HMRC over a relatively simple matter was not a pleasant experience and I don't plan on revisiting that dark place if I can help it!

I have been a customer of NatWest for many many years but sadly now feel I cannot trust them (alas, this is not the only thing that has gone wrong in recent months). If this was a lesser amount of money I would consider ditching the tax free status for a quiet life - but it's not. Many years of compounded ISA contributions does add up!

My serious regret is not coming away from the bank in that initial instant with the name of the person I dealt with or some kind of written receipt - despite my partner (who was with me at the time) requesting something written/stamped - I was not pushy enough and let this slip. Unfortunately the repeated verbal assurances from the bank clerk was enough to convince me. Lesson learned! However, I'm pretty sure I could pick them out of an identity parade!

So, how should I proceed? Any ideas most welcome. Thanks.

Comments

  • KTF
    KTF Posts: 4,848 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I assume you didnt take a photocopy of the certificate before you sent it to NatWest?

    If they cant find it then you will have to phone up HMRC yourself as NatWest will not be able to get a new one issued on your behalf.
  • sloughflint
    sloughflint Posts: 2,345 Forumite
    Get a new certificate from FSCS.
  • WhiteSpace
    WhiteSpace Posts: 53 Forumite
    10 Posts
    KTF wrote: »
    I assume you didnt take a photocopy of the certificate before you sent it to NatWest?

    I have a photocopy and a colour scan - albeit a low quality colour scan. If I'd taken a high quality scan in the beginning I doubt that you'd actually be able to tell the difference between that and the original to be honest - the original is only a computer printout on plain paper.
    KTF wrote: »
    If they cant find it then you will have to phone up HMRC yourself as NatWest will not be able to get a new one issued on your behalf.

    The original certificate came from FSCS and I had actually read late yesterday on their website:
    For the small number of people who needed their certificates re-sent, either because the certificate was lost in the post or due to changes in names or addresses, they were able to request a new certificate, provided that the FSCS was contacted by 12 March 2009.
    :
    Please note that FSCS are unable to process any more requests for ISA Reinstatement Certificates as of today (13 March 2009).

    So I thought I was stuffed there. HOWEVER, I have just read a more recent article on their website that sounds a lot more promising:
    There are a small number of people who need to have their certificates re-sent, either because the certificate was lost in the post or due to changes in names or addresses. FSCS had been processing these requests up to the middle of March. As the deadline for reinvestment has been extended the FSCS will still be able to deal with requests for new certificates. The next batch of certificates will be sent out in mid April.

    If you need a replacement Reinstatement Certificate please contact FSCS on 020 7892 7300.

    (Sorry, I'm not allowed to post links being a 'newbie'!)

    I think I'll try my luck and dial that number!

    (The last time I tried to contact HMRC over something simple it literally took me days to get through and speak to the right person! The thought of having to submit 'evidence' to HMRC over something which is non-standard fills me with dread!)
  • WhiteSpace
    WhiteSpace Posts: 53 Forumite
    10 Posts
    Get a new certificate from FSCS.

    Yeah thanks (I didn't see your post earlier) - will give it a go.
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