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WARNING - if anyone transferred an ISA to Abbey in 2007/08
CatIlike
Posts: 1 Newbie
Hi
I transferred an ISA to Abbey early in the 2007/08 tax year. I am sure that at the time the paperwork said they would pay interest from the moment that my previous ISA provider stopped paying interest.
When I checked my statement at the end of 2007/08 it seemed that they had not - they started paying interest almost 2 weeks after my previous bank closed and transferred the ISA. By my calc this was a loss of about £15.
I wrote to complain about this and as I cannot find the original paperwork stating this offer (so was prepared to admit I might have misremembered) I asked them to send this to me.
Instead of properly replying, they have sent me a cheque for £50 (I assume this is why they are sending me money - the letter did not say).
If anyone else has transferred to an Abbey ISA then please check your statement - they may owe you money too. And getting the compensation took only 1 letter and a 10-week wait.
I transferred an ISA to Abbey early in the 2007/08 tax year. I am sure that at the time the paperwork said they would pay interest from the moment that my previous ISA provider stopped paying interest.
When I checked my statement at the end of 2007/08 it seemed that they had not - they started paying interest almost 2 weeks after my previous bank closed and transferred the ISA. By my calc this was a loss of about £15.
I wrote to complain about this and as I cannot find the original paperwork stating this offer (so was prepared to admit I might have misremembered) I asked them to send this to me.
Instead of properly replying, they have sent me a cheque for £50 (I assume this is why they are sending me money - the letter did not say).
If anyone else has transferred to an Abbey ISA then please check your statement - they may owe you money too. And getting the compensation took only 1 letter and a 10-week wait.
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