isa problem

chezh

hi does anyone know how l stand on this one. two years ago l opened an isa account with the halifax that was fixed for 4/5 years at 6%. l have just found out that the transfer from my old isa account with the nationwide was never done so therefore instead of earning a nice interest on the halifax isa it's been earning hardly anything sitting in the nationwide.does anyone know if l have any comeback on this coz l'm not a happy bunny thanks :mad:

Lokolo

Unless you have the correspondance from Halifax you don't have a case....

Consumerist

The first thing to do is get in touch with both banks to find out what they have to say about it. If you're not happy with what they have to say about it then you should start the formal (written) complaints procedure with both banks.

Once you have received their final response to your complaint you can refer the complaint to the Financial Ombudsman Service. If, however, you don't get a response from either bank after 8 weeks then you can refer the complaint directly to the FOS.

You can find out more about the FOS on this page. Although the page mainly concerns reclaiming bank charges, it will give you an insight into the complaints procedure.

Lokolo

Consumerist wrote: »

The first thing to do is get in touch with both banks to find out what they have to say about it. If you're not happy with what they have to say about it then you should start the formal (written) complaints procedure with both banks.

Once you have received their final response to your complaint you can refer the complaint to the Financial Ombudsman Service. If, however, you don't get a response from either bank after 8 weeks then you can refer the complaint directly to the FOS.

You can find out more about the FOS on this page. Although the page mainly concerns reclaiming bank charges, it will give you an insight into the complaints procedure.

FYI you don't need to complain to both banks as it is up to the new provider entirely to get the new money. So in this case, the OP would only need to complain to Halifax.

Consumerist

Lokolo wrote: »

So in this case, the OP would only need to complain to Halifax.

This may be the case but we don't know all the circumstances. The banks may dispute the facts in which case it may be necessary to complain to both banks and let the FOS decide the matter.

greenface

Plus you will have it in writing that the Nationwide putting all the blame on the shoulders of the Halifax

Consumerist

Regrettably, we have far too many banking sympathisers on this site. Whatever you decide to do, don't let them desuade you from pursuing your complaint if the need arises.

The FOS is a free service so you have nothing to lose.

glider3560

And you never checked the balance/statements in 4/5 years?

That aside, do make a complaint - it won't cost you anything so is worth a try anyway.

Consumerist

glider3560 wrote: »

And you never checked the balance/statements in 4/5 years?

I think the OP said it was two years ago. Which, admittedly, does raise some questions in my mind too.

Now, us old hands wouild never leave any account unchecked for more than about a month but, unfortunately, the majority of the good old British public trust banks far too much. . .

. . and pay the price.

greenface

Consumerist wrote: »

Regrettably, we have far too many banking sympathisers on this site. Whatever you decide to do, don't let them desuade you from pursuing your complaint if the need arises.

The FOS is a free service so you have nothing to lose.

point one out on this thread

c0ck