Abbey don't transfer my ISA

spike87

I'm going to transfer from the Abbey Direct ISA Issue 3 to Issue 6 so hopefully it won't take as long. I noticed some other members have done this. Did you just open the Issue 6 account then send off the transfer form?

libra10

When my OH's Direct ISA matured he phoned Santander Customer Care and they agreed to transfer to Direct 6.

Three weeks later we phoned to check it had been upgraded, but it hadn't! Due to their incompetence he has been losing out on higher rate interest.

They agreed to move straightaway and interest is now showing on his internet screen.

Always check that your request has been attended to, don't take Customer Care's word for it.

bryanb

I made a positive decision not to save with Abbey/Santander last year. However they still got me when they took over B&B. Now that my 1 year fixed sentence is up I am trying like everyone here to get my money transferred out. I've had all the excuses in the previous posts, but of course still no transfer.
My new provider (Nationwide)has assured me that interest will NOT be backdated to the date of opening account/filing transfer form.
Perhaps I should be grateful that my money still exists somewhere, it could so easily have gone down with B&B.

juicyjude

Thats funny, I was told on Friday that mine would be backdated to when I completed the transfer form! Do they know what they are doing? Seems they say whatever they feel at the time! Mind still no certificate or confirmation 8 weeks plus 5!

bryanb

juicyjude wrote: »

Thats funny, I was told on Friday that mine would be backdated to when I completed the transfer form! Do they know what they are doing? Seems they say whatever they feel at the time! Mind still no certificate or confirmation 8 weeks plus 5!

Yes, I was initially told the same. However when I pressed for confirmation I was told they would start to pay interest on the amount actually in the account at the time I opened it, and on the transfer amount when the cheque was paid in. Not really much use to me as the only funds concerned are the transfer.
The manager said they were unable to pay interest on money they haven't received. Which seemed reasonable to me, although not what I wanted to hear.

juicyjude

Same here, the only funds are also the transfer!zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz still waiting zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

vickssinex

Thought I'd add my own experience to this thread - transferring a cash ISA from Santander to Newcastle Building Society. I sent off the transfer form to NBS just after Easter. About a fortnight ago I got a letter from NBS saying they had written to Santander three times asking for the funds to be transferred and had no response. I phoned Santander who said that the letters had been sent to the wrong address (sound familiar?) and had to be redirected but that things were in hand and the transfer should be completed by the end of that week...
...and the money has just appeared in the new account yesterday! So it's taken two months I suppose the message to anyone still waiting is hang in there, it will get there. Eventually.

kfm

Thought I would add something to the thread too.

My mum filled in a transfer request for her ISA from Santander to Yorkshire Bank at the end of March.

In the middle of May, she got a letter from Yorkshire Building Society that they had received a cheque for an account they did not have. Santander had sent the cheque to the wrong bank!

They still haven't reissued a cheque but have drawn the money from her ISA. It's been over 2 months.

My dad also made the same transfer though a week later in April. He hasn't heard a single word from any bank or building society and the money is still sitting with Santander.

bryanb

The transfer happened today, it took exactly 60 days and a complaint (formal) to each provider - Santander and Nationwide.
Nationwide have held their hands up to 20 days delay, and are paying me interest for those days. They say they cannot credit to my ISA even though it is interest that should be in the ISA. Perhaps that's a good thing though as it would probably mess up my opening of a 2010/11 ISA, because I have not yet subscribed any of this year's allowance, only transfer cash.
Comparing notes between the two providers, I filled in the transfer form in N/W branch 30 April, N/W claim they received it 21 May.
Santander state they received the transfer request the day before N/W sent it 20 May. Santander's complaints dept state the cheque was sent 17 June, But allegedly arrived at N/W 28 June, must have been first class post.

spike87

Asked to tranfer my Issue 3 to Issue 6 on the 21/06/2010. 3 days later my interest from Issue 3 had been credited and I am now earning 2.75%.

Flawless transfer, but I expect there would've been trouble if I was transferring out of Santander.