* SKIPTON BUILDING SOCIETY: are we dealing with idiots? Or, alternatively. . ??*

codger

Thanks, isofa. The matter is well in hand now.

Re your quote of two earlier remarks I made, and your observation that they are not helpful.

In point of fact, the remarks are neither helpful nor unhelpful.

They were background comments to my post.

They do not form any part of the complaint about the after-the-fact revision of the terms and conditions of a product offer / the product documentation that accompanied the acceptance letters at the time of account opening.

The background comments were also there to indicate why we did not attempt to undertake an immediate transfer-in of existing ISAs from other providers. We were leaving for a holiday the same day we made our postal application. And the Society was as happy to accept a postal application as a branch application: it provided an online facility to download pdf forms so as to accomplish precisely that.

Not every application for every savings account is automatically accepted by every institution. Mistakes and omissions might inadvertently be made by the applicant, as a result of which the process may need to be recommenced.

So despite the care taken in our applications, we knew we could not be certain that the applications had been accepted until such acceptance was confirmed.

That being the case, we had absolutely no intention -- neither then, now, nor at any time in the future -- to provide financial information about our ISA accounts with other providers to a third party with whom we were not yet in a formalised relationship.

It was therefore entirely sensible not to seek to effect a transfer-in at the same time as making a postal application that may not, for whatever reason, have been accepted. It was likewise sensible to effect such transfer within whatever time period was so specified, or, alternatively, at our earliest convenience.

The Society did not choose to specify any time period.

In considering whether or not we should take up the offer, we were therefore entitled to conclude that we could:

(a) make a postal application as per the terms and conditions of the product offer, using the downloaded documents provided, and:

(b) arrange to make a transfer in when we returned from holiday, subject to confirmation having been sent to our address in the meantime that the accounts were now open.

There is nothing unreasonable about any of the above.

Nor is there anything unreasonable in customers who have an account to which transfers-in are allowed without limit of time to seek to make such transfers-in within less than 30 days of account opening. They have hardly been tardy, given that the specified life of the account in question here is 18 months.

Just thought I'd clarify that for you.

HaushinkaGreenDay

Hello Codger,

I think the problem that occurred with your ISA was due to not requesting an ISA transfer when you applied for Skipton's investment.

I opened the same account at the end of July, but I understood that to transfer in an existing ISA one had to do so at the same time as applying for the account; in other words, the Skipton investment would not be opened until they had received the funds from my old ISA provider.

However, I did apply in-branch and also telephoned beforehand to check all the details etc., so it's maybe a case of not enough information was made available on their website.

All has gone to plan and it's now up and running.

However, you may like to know that I called Skipton's main branch today to enquire about cash transfers, and was told that I could only pay in for the remainder of this tax year; from April 2009 they are not allowing any more payments in (something to do with them reaching their investment limit?!)

So I'm not happy with that and will probably transfer out again at the end of this tax year, depending on the market then.

Hope this helps,

Haushinka

PS Highlighted text above to help others who may have the same investment, to catch their attention as SBS doesn't seem to be making this widely known.

PPS Think I might post a separate thread about that to make people aware...

codger

Thanks haushinka -- have pm'd you.

will-in-estoril

codger wrote: »

Thanks JohalaReewi for that: appreciated!

LittleVoice: have pm'd you.

Will-in-estoril: we're only just back home again so I've only now caught up with this thread.

Good to know you're not a financial adviser.

As your posts so evidently make clear.

Any luck with your complaints, Codger?? I'm not a financial advisor, but I can understand terms and conditions: two successful transfers in confirm that!!

DURHAM_3

I have a Skipton cash ISA and wish to transfer it to the post office equivalent. I am 6 months into the interest year. Does anyone know if Skipton will pay that interest or am I breaking terms and conditions.

Baldur

DURHAM wrote: »

I have a Skipton cash ISA and wish to transfer it to the post office equivalent. I am 6 months into the interest year. Does anyone know if Skipton will pay that interest or am I breaking terms and conditions.

You will have the terms & conditions of your particular ISA product, if it is this one, the key features say:

no limit to the number of withdrawals or transfers you can make.

codger

will-in-estoril wrote: »

Any luck with your complaints, Codger?? I'm not a financial advisor, but I can understand terms and conditions: two successful transfers in confirm that!!

Gosh Will, I hadn't realised you'd managed to come down from the mountain, and was having to spend time catching up on old posts. Did you happen to come across post #14 on this thread

http://forums.moneysavingexpert.com/showthread.html?p=12685107#post12685107

where the poster points out that under the T&Cs of the Skipton deal, any transfer-in must be accomplished at time of account opening?

Thought not. But then, no-one else did, either.




Ah well. Back to the mountain top, methinks.

:rotfl:

will-in-estoril

Do Monte vejo o campo; tambem vejo os burros, que, alem de gritar e queixar, nao fazem nenhum!!

http://www.portugalvirtual.pt/_tourism/costadelisboa/estoril/history.html

Chadsman

will-in-estoril wrote: »

Do Monte vejo o campo; tambem vejo os burros, que, alem de gritar e queixar, nao fazem nenhum!!

http://www.portugalvirtual.pt/_tourism/costadelisboa/estoril/history.html

...easy for you to say.

LittleVoice

HaushinkaGreenDay wrote: »

So I'm not happy with that and will probably transfer out again at the end of this tax year, depending on the market then.

If you want to transfer out at the end of the current year, you will face a 90-day interest penalty. You need the money in the account to December 2009 - that's the fixed period.