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  • FIRST POST
    The_Laddie
    ABBEY Direct ISA
    • #1
    • 23rd May 08, 9:49 AM
    ABBEY Direct ISA 23rd May 08 at 9:49 AM
    Hi people,

    Won't bore you with all the details but if anyone is considering opening one....

    Opened one 7th April and filled in transfer forms for two transfers on same day.
    Just found out one transfer request wasn't made till 22 days later and the second 36 days later !!!! So transfers won't happen till a further 30 days after these dates !!!! and no-one at Abbey has any idea why it took so long

    Honkin' Service !!
    What's that all about ???? :confused:

    ICESAVE or Barclays in future me thinks.

    Cheers
    Chris.
Page 1
  • RayWolfe
    • #2
    • 23rd May 08, 10:04 AM
    • #2
    • 23rd May 08, 10:04 AM
    Barclays? Pan, fire, into, frying, come to mind. I can't think why.
    However, as with Barkleys, there is enough evidence on this board to have warned you not to get the Abbey Habit.
  • The_Laddie
    • #3
    • 23rd May 08, 10:26 AM
    • #3
    • 23rd May 08, 10:26 AM
    Yep, you're right although I had already filled in the forms and set up the account before a lot of the Abbey bad news came to light

    I also never mentioned the 25 minute phone call to the ISA centre to confirm they don't actually know anything. (So any financial gain from transferring is probably now null and void). Bieng cut off the once and receiving a cash card even though I'm convinced I asked not to have one :rolleyes:

    Maybe they should be spending some of their Formula one advertising budget on their admin centres !!!!
    • millie
    • By millie 23rd May 08, 5:38 PM
    • 892 Posts
    • 305 Thanks
    millie
    • #4
    • 23rd May 08, 5:38 PM
    • #4
    • 23rd May 08, 5:38 PM
    I have cancelled my transfer to them and will be transfering the £2000 I opened the account with, because of there incompetance. My husband has still not received his registration no. from the inspite of numerous phone calls, so that one will be closed too.
    • millie
    • By millie 2nd Jun 08, 5:48 PM
    • 892 Posts
    • 305 Thanks
    millie
    • #5
    • 2nd Jun 08, 5:48 PM
    • #5
    • 2nd Jun 08, 5:48 PM
    I have cancelled my transfer to them and will be transfering the £2000 I opened the account with, because of there incompetance. My husband has still not received his registration no. from the inspite of numerous phone calls, so that one will be closed too.
    Originally posted by millie
    My husband finally got his welcome pack today almost 3 months after filling in the online application, still no registration number though, I have shredded the whole lot up and will leave the money where it is, who knows how long the transfer would take, with the loss of interest its just not worth it.
    • bashful
    • By bashful 2nd Jun 08, 8:30 PM
    • 67 Posts
    • 10 Thanks
    bashful
    • #6
    • 2nd Jun 08, 8:30 PM
    • #6
    • 2nd Jun 08, 8:30 PM
    My wife and I transferred out of out 2007/8 Barclays Tax Saver ISAs into Abbey.

    We applied online on 28 March and our transferred funds didn't show in the accounts until 27 May. Almost makes Barclays look good eh?

    The reason for this post is to ask anyone with a fully functioning Abbey ISA when do they add interest please? Barclays interest is added end of the month and shows on line next day. I was hoping the same for Abbey but that doesn't appear to be the case.

    Also, can anyone remind me of the Abbey deal on interest - when do they promise to backdate it to - is it when they asked Barclays for our dosh?
    • rdp1980
    • By rdp1980 2nd Jun 08, 11:05 PM
    • 258 Posts
    • 141 Thanks
    rdp1980
    • #7
    • 2nd Jun 08, 11:05 PM
    • #7
    • 2nd Jun 08, 11:05 PM
    The reason for this post is to ask anyone with a fully functioning Abbey ISA when do they add interest please? Barclays interest is added end of the month and shows on line next day. I was hoping the same for Abbey but that doesn't appear to be the case.
    Originally posted by bashful
    I have the Easy ISA (as it is now called) which I have had for years but the rates are quite pitiful now I am back in the lowest tier! That pays interest annually on 1 March each year so perhaps the Direct ISA does too.

    But as I say, mine is an older product and it may be new accounts are set up differently.
  • BenL
    • #8
    • 3rd Jun 08, 11:00 AM
    • #8
    • 3rd Jun 08, 11:00 AM
    Abbey screwed up mine as well and the rate dropped in the mean time.

    I got card and pin with account number etc, then got forms asking for ID afterwards to open the account.

    Shouldn't have sent me a card if it wasn't open.

    I am at a loss as to what has happened with it but they returned my opening de;posit cheque as well so I am trying somewhere else.
    I beep for Robins - Beep Beep
    & Choo Choo for trains!!
  • ~Chameleon~
    • #9
    • 3rd Jun 08, 1:54 PM
    • #9
    • 3rd Jun 08, 1:54 PM
    I've also cancelled my transfer into Abbey and asked them to close the account.

    Catalogue of errors include:

    1. Website problems during initial application so had to be completed by telephone.

    2. Failure to send out paperwork, claiming it must have been lost in the post :rolleyes:

    3. Had to re-apply for new account due to lost paperwork on first one.

    4. Sent out cashcard and pin number after I said I didn't want one.

    5. Failed to complete transfer of funds after nearly 10 weeks of "processing".

    6. On my last phone call to them they somehow managed to transfer me to Virgin Media whilst waiting to be put through to their ISA dept!!!!


    NEVER, EVER, EVER again will I go to Abbey for ANYTHING!!!
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Rob 07
    I applied for my ISA on the 7th April and the account was only opened on the 7th May the transfer still hasn't gone through and barclays say they haven't recieved the request for the transfer yet even though abbey should of recieved the signed form on the 12th April. I made a complaint on the 1st May about the slow opening, the loss of interest, the shocking customer service (Making numerous calls only to be told that they would send an email to someone and they would get back to me - but surprise surprise they never) and guess over a month after making the complaint still no response even though the letter says that i would recieve a reply within 7 days and if not by then i would get an update 4 weeks later, so i rung the complaints department this morning and was on the phone for 30 mins only to be told that she doesn't have the phone number of the person she needs to get in contact with so she would send an email and they would get back to me - i'm sure i've heard that before - i won't hold my breath!

    The worst company ever!
  • Rob 07
    *Bump*

    What do you think i should do regarding my experiences above? What compensation do you think i shold expect, i have heard that people have been given either £50 or £100?
  • ~Chameleon~
    Just cancel the transfer and ask them to close your account! Why on earth would you think of claiming compensation, and for what??? :rolleyes:
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Rob 07
    I want compensation for the lost interest that i would otherwise of earnt had the account been opened 2 months ago, also for the appauling customer service and the inconvienience i have been caused through having to make numerous phone calls at the premium rate to which i recieved no reply when promised so i think compensation is only fair!
  • ~Chameleon~
    I want compensation for the lost interest that i would otherwise of earnt had the account been opened 2 months ago, also for the appauling customer service and the inconvienience i have been caused through having to make numerous phone calls at the premium rate to which i recieved no reply when promised so i think compensation is only fair!
    Originally posted by Rob 07
    You should have used the 0800 number then

    And your money hasn't lost interest if it hasn't been moved out of it's original account. So, you might have lost a couple of pounds potential interest, hardly worth the hassle of sueing them!!!! :rolleyes:

    Up to you what you do, I just don't understand all this "claim and compensation" culture that appears to be rife :confused:
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
    • thor
    • By thor 8th Jun 08, 8:23 PM
    • 5,185 Posts
    • 1,852 Thanks
    thor
    I have the Easy ISA (as it is now called) which I have had for years but the rates are quite pitiful now I am back in the lowest tier! That pays interest annually on 1 March each year so perhaps the Direct ISA does too.

    But as I say, mine is an older product and it may be new accounts are set up differently.
    Originally posted by rdp1980
    You should get Abbey to move your money from the Easy ISA to the Direct ISA issue 2 - there is a significant increase in interest.
    • rdp1980
    • By rdp1980 9th Jun 08, 9:21 PM
    • 258 Posts
    • 141 Thanks
    rdp1980
    You should get Abbey to move your money from the Easy ISA to the Direct ISA issue 2 - there is a significant increase in interest.
    Originally posted by thor
    I know, I keep looking round for good deals, but at the moment there is so little in there I am just being lazy. I'm talking about not much over £100! I did consider the Direct ISA but then figured the reason my ISA is so under-used is that it is more convenient for me to manage my accounts online, something the Easy ISA does not allow. Sure, you can log into Online Banking and look at the account, but you can't transfer other than to another Abbey account, and my current account is not with Abbey.

    I have been looking at the HSBC e-ISA. My theory being that one which you manage exclusively online must make provision for transferring funds out to external accounts.

    That will at least give me easy access to my money which will make me more inclined to use the account rather than having what little money I have been saving up get taxed in a regular savings account.
  • rl1
    I wish I had thread this thread before I decided to open an ISA with Abbey. I applied on line and waited several weeks before ringing them find that the application had not gone through so I applied again. To date I have received a card, a pin number but no registration number to access the account. I have also received a lot of forms. I was intending to transfer an old ISA from Halifax into this year's new Abbey but am having second thoughts on that after the delays in even opening an account.

    My question is can I cancel this application and still open an ISA elsewhere for this year. I have not yet deposited any cash into this account as I was waiting for the registration number so I could do this on line.
  • ~Chameleon~
    My question is can I cancel this application and still open an ISA elsewhere for this year. I have not yet deposited any cash into this account as I was waiting for the registration number so I could do this on line.
    Originally posted by rl1

    Yes, you can!

    After all the hassle I had with Abbey I told KRBS not to transfer any money to them and instead I opened an ISA with Icesave.

    The account was opened online on 3rd June and today I received a letter from KRBS to say my ISA has been transferred to Icesave and account closed so has taken less than three weeks to complete!!!
    “You can please some of the people some of the time, all of the people some of the time, some of the people all of the time, but you can never please all of the people all of the time.”
  • Rob 07
    I;m still having problems with Abbey, i applied on the 7th April and thr transfer from Barclays stil hasn't gone through! I recieved another letter from them yesterday saying that after 8 weeks they still haven't finished investigating my complaint and that i now have the right to refer this to the financial ombudsman - i feel that doing this would only delay things further, i have read that it is taking around 12 weeks for complaints to be dealt with. I don't want to cancel the transfer as i will probably lose out on any compensation due to me so i will have to wait it out and then transfer the ISA elsewhere when it is all sorted!

    Moral of the story - DON'T BANK WITH ABBEY!
  • magpiesaver
    I'd agree with all the grumbles about Abbey. We opened ISAs with them a year ago, and I have the papers in an envelope on which I see I've written in large letters: ADMIN IS A NIGHTMARE - NEVER USE ABBEY AGAIN!

    Only trouble is that transferring an ISA out of Abbey is even worse than opening an account. And there was no question of leaving the money there when I realised they'd dropped the interest rate to 3.35% without telling us.

    And why shouldn't people claim compensation for delays? If they say they normally process transfers in 5 days, and the maximum allowed is 30 days, and it actually takes 6 weeks, we've lost out on the 3% difference in interest between what they pay and what the money would have earned in the new accounts. If you have a lot of money in an ISA, that's a worthwhile amount of interest that's been lost because of their incompetence (or deliberate delay). Unless we make a fuss every time this sort of thing happens, they'll go on getting away with it.
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