Abbey Postal ISA delays

Walshy · 2 May 2005 at 1:11PM

I sent a cheque for £3000 to credit my Abbey Postal ISA on April 12th but the cheque hasn't been debited from my current a/c yet.

Do abbey still have a back-log?

I had a similar situation last year where I thought a cheque had been lost in the post so cancelled it, but it hadnt been lost - just took a few weeks to process by Abbey.

davidcampbell · 2 May 2005 at 1:50PM

would have thought we would have our act together this year. however similar problems to last year, would not be all that much of a shock.

unfortunately

DC

Walletwatch · 2 May 2005 at 2:07PM

They're quite possibly swamped with people trying to open postal ISAs before the reduced interest rate postal ISA kicks in (already kicked in, in fact, from 01-May onwards)

bluesnice · 2 May 2005 at 4:52PM

I opened mine on Friday with £1. I was gonna post a cheque for the rest as soon as my paperwork arrived. Maybe I'll leave it a week, its better off sat in my savings than in someones To Do tray.

HLK · 2 May 2005 at 4:56PM

We opened ISA's at a branch on Saturday and were told it could be weeks before any paperwork turned up. Seems a bit daft as we already had accounts, provided all the info and she keyed it all into the system, so not waiting on manpower. The system processing these must be 'not one of the best' .. being polite..

It's a bit embarrassing especially when you are staff!

Walshy · 6 May 2005 at 12:54PM

Cheque has now been debited from my current a/c, so thats about 3 weeks delay. Little bit annoying because I didn't know if the cheque had been lost in the post.

Its not that bad though - receipt from Abbey confirms cheque was credited to my ISA on 13th April, so I have been earning interest on the ISA. plus interest of the £3000 cheque in my cahoot current a/c until yesterday.

davidcampbell · 6 May 2005 at 1:15PM

HLK wrote:

We opened ISA's at a branch on Saturday and were told it could be weeks before any paperwork turned up. Seems a bit daft as we already had accounts, provided all the info and she keyed it all into the system, so not waiting on manpower. The system processing these must be 'not one of the best' .. being polite..

It's a bit embarrassing especially when you are staff!

would suspect its "one on one" HLK. little wonder we are getting rid of it. the only people in abbey who dont know how bad it is are the ones who insist we keep using it. cant wait until we get parthenon :rolleyes:

lush_walrus · 6 May 2005 at 1:20PM

I opened mine on Friday 1st which was the last day of increased rates and the lady told me that the account information would be sent through to me in two weeks time. The money from a cheque I gave has however been deducted from my account yesterday.

Fatboy_NSS · 9 May 2005 at 12:34AM

Gotta say I'm getting a bit fed up with the Abbey whingers. You pay your cheque in and it takes a few weeks to clear, in which time you're earning interest in your ISA and also in your current account. Sounds like a win win to me

BTW I got my promotion to PFC this week, along with a £280 pa pay rise. Kind of makes me wonder why I bother...

MiserlyMartin · 9 May 2005 at 7:32PM

But are you earning interest while waiting for the cheque to clear?

I opened an account in branch on April 21st. The money left my current account on April 26th. Should I be earnng interest from 26th or 21st?

Also have I managed to get the higher rate? I logged on to MSE today and this is the first I have heard of a reduced rate. If so how long it is staying at 5.35%??

Abbey Postal ISA delays

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free