Abbey Isa changed to Savings A/c query..

busy_b

I had a Guaranteed Growth Isa with Abbey that matured last year - I invested 3k which increased to £3628

At maturity I signed the form to re-invest but Abbey say they never received it and so changed it to a Savings Plan ! Can I get it back to an Isa !! I am so annoyed !
What's the procedure please & are they within their rights to change an Isa to a Savings Plan without asking my opinion first?

isofa

Once the account has lost the ISA status, it's very unlikely you'll get it back, unless Abbey can somehow reverse the mistake.

Unless specific to the account, normally ISAs always stay in ISA accounts, even if they are just moved to a lower rate "basic" ISA account on maturity, however you'll need to check the T+Cs of your account carefully, it may be different for a stocks and shares ISA too.

Obviously first go into the branch, talk to the Manager and see what can be done.

If nothing comes of that, put a formal complaint in writing to Abbey (who in my experience are the worst bank in the world, closed all my accounts with them, service was shocking), and if no joy there, write into a good money expert such as the one in the Sunday Times who may be able to assist and at least get compensation for the mistake, finally then look at the Financial Ombudsman.