Paid into 2 cash ISA's this year - what will happen?
Comments
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Which is exactly what the T&Cs say
......... and completely contrary to the advice you have been given.
I would go back to them, quote the above and the messages you received.
But you probably won't win ..........0 -
What they have done is absolutely in line with their ISA transfer advice on their website. http://www.nationwide.co.uk/products/isas/our-isas/transfer-your-isa
However, they have confirmed something different to you in writing. They have no proof that you ever read anything different anywhere. Therefore it is only fair of you to expect that they stick to their written word. Ask them to comply with their written conformation. If they don't, escalate it to the Nationwide Chief Executive's office. If that doesn't yield the expected result, take it to the FOS.
Don't give in, you have every right to do what you did because they told you you could. To threaten you with moving your Regular Saver ISA to a lower rate is a bit out of order under the circumstances (although that's just words taken out of their T&Cs, and whoever wrote to you this time probably has no idea you got different advice).0 -
Frustrating as it might be to deal with incompetent staff, I think your suggested actions will be a bit far fetched that will very likely result in a lot of time and energy wasted. After all, if every company had to stick to the [inaccurate] information provided by a level 1 customer service rep then they'd fall apart before they even know it. They would simply refer you to the T&Cs which clearly states this is not allowed.What they have done is absolutely in line with their ISA transfer advice on their website. http://www.nationwide.co.uk/products/isas/our-isas/transfer-your-isa
However, they have confirmed something different to you in writing. They have no proof that you ever read anything different anywhere. Therefore it is only fair of you to expect that they stick to their written word. Ask them to comply with their written conformation. If they don't, escalate it to the Nationwide Chief Executive's office. If that doesn't yield the expected result, take it to the FOS.
Don't give in, you have every right to do what you did because they told you you could. To threaten you with moving your Regular Saver ISA to a lower rate is a bit out of order under the circumstances (although that's just words taken out of their T&Cs, and whoever wrote to you this time probably has no idea you got different advice).
Instead, I would suggest OP to accept that outcome and channel that energy into researching an ISA provider with a better rate for the balance.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0 -
My suggestions aren't far fetched. It would be ridiculous if you could not rely on the written advice of a customer service rep. It is not the customer's fault if the CS guys are incompetent.
It is also not the customer's fault if the Nationwide systems don't implement the Nationwide rules.0 -
That is particularly true when the online system "allows" you to transfer from one ISA to another without restriction.It is also not the customer's fault if the Nationwide systems don't implement the Nationwide rules.
On the other hand NW are one of the few organisations that allow an ISA to be spread over many accounts.0 -
Frustrating as it might be to deal with incompetent staff, I think your suggested actions will be a bit far fetched that will very likely result in a lot of time and energy wasted. After all, if every company had to stick to the [inaccurate] information provided by a level 1 customer service rep then they'd fall apart before they even know it. They would simply refer you to the T&Cs which clearly states this is not allowed.
Instead, I would suggest OP to accept that outcome and channel that energy into researching an ISA provider with a better rate for the balance.
Well, I wrote a letter to Nationwide customer services saying how disappointed I was in the letter I received concerning my ISA.
I pointed out that I had been given wrong information from 2 staff, and that the NWide banking system had a worrying loophole that let customers carry out transactions that are not allowed.
I had a phone call today from Nationwide and spoke to a very apologetic man.
I was assured that N'wide are aware of the on line loop hole and that they are hoping to address this problem by mid September.
He agreed that I had been given 'shocking service' and offered to compensate me by adding £50 to my account.
I accepted the £50 as I felt that it was fair.
sparkie0 -
Good.
An excellent outcome for you and a reasonable attitude from NW.0
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