Has A&L given me £3000?

stilernin

I opened a 10/11 Flexible ISA in branch on Monday 29th with the understanding that I would transfer £5100 into it on 6th April.

I've just checked to see that the account is showing on line and it is - with a balance of £3000. ' PAYMENT/TRFR FROM ALLIANCE ACCT' - 29th March.

None of my accounts show a debit.

Can anyone explain this to me please?

OneADay

A&L online systems can take a few days to update - and can take at least 24 hours before you see the correct picture and sometimes up to 4-5 days I think with cheque transfers.

I would chase them to be honest - been given the run around by them today trying to get access to a maturing bond on 1st April 2010 but it wont actually be available till tomorrow (but that is bank holiday - and they wont take my instruction to close account on maturity GRRRR - I must now go back with a certificate). And they paid interest into the bond on 1st March. GRRRRRR. All designed to baffle people into making errors.

stilernin

I certainly will contact them.

I just wondered if anyone understood A&L's systems and wondered how they could have opened an account for me with a credit of £3000 which hadn't come from any of my accounts.

Where will I stand when £3000 is debited (because it isn't my money) and then my £5100 is credited? This technically isn't allowed in one year.

OneADay

stilernin wrote: »

I certainly will contact them.

I just wondered if anyone understood A&L's systems and wondered how they could have opened an account for me with a credit of £3000 which hadn't come from any of my accounts.

Where will I stand when £3000 is debited (because it isn't my money) and then my £5100 is credited? This technically isn't allowed in one year.

Gawd know what they are doing there - maybe taking money from someone else's account. Under law, its classed as theft I think if you benefit from this money (if it were not yours) - well ok I don't know for sure.

Or maybe its future crediting with the easter holiday period.

All I know is A&L have lousy systems - Abbey aren't much better (sent me a card for a closed account (closed a year ago), even went to branch to confirm).

stilernin

Spoke to the Personal Banker (and I typed that very carefully!) who opened the account on 29th. No apology, she went off to investigate, came back and said it was a 'cashier error', still no apology. I asked to speak to the Duty Manager, but no manager in today. Bizarre for the last day of the ISA rush I would have thought.

I asked for the manager's name, 'Michael' (changed to protect the innocent) but his full name had to be dragged out of this PB. Call me old fashioned, but I like full names to be used in business.

As well as no apology from start to finish, the fact that £3000 had appeared from someone else's account seemed to amuse this PB. I was assured that funding this 10/11 account in 09/10 wasn't a problem and I could fund it with £5100 on 6th, even though £3000 was already in it because this was a 'bank error'.

I will phone back on Tues (6th !!) to try and sort this out with 'Michael'.

Watch this space.

masonic

It's the person who intended the money to be credited to their own ISA that I feel sorry for. They could well lose out on their ISA allowance for this year as a result of this mistake.

agsnu

masonic wrote: »

It's the person who intended the money to be credited to their own ISA that I feel sorry for. They could well lose out on their ISA allowance for this year as a result of this mistake.

Well, I guess that's what they get for going with A&L.

stilernin

Oooops..... zero balance now!

masonic

agsnu wrote: »

Well, I guess that's what they get for going with A&L.

It's what they get for following the herd. Every year during ISA silly season it's the same story with whoever happens to be at the top of the rate tables.

chirpchirp

Apparently my transfer in to a Santander ISA has been opened with a 10k cheque! I only have one year of ISA savings to transfer in!