Nationwide transfer in !!

pennine

Does anyone else have a problem transferring money in to a Nationwide cash Isa ?
I opened an Isa with them by transferring funds internally in branch back in the first week of May and then arranged to transfer funds from my Northern rock Isa which they have received, but all the funds are held in some sort of holding account and have been for the last month. No one at Nationwide seems to know what has happened, all very apologetic but not able to help really :mad:. I would write a letter of complaint but they probably would lose that as well..

Milarky

You'll have to be patient with them, I'm afraid. ISA transfers are not going to improve markedly following the OFT 'clampdown' announced late last month. Transfer times should improve from [a 'target' of] 23 working days [4.6 weeks] to 15 working days [3.0 weeks] but there is nothing about the 'agreement' the OFT made with ISA provider representatives to actually improve the quality of 'transfer status' [i.e. keeping the customer informed] so it's still going to be a 'leave with us' attitude.

KingL

is it a fixed rate? sometimes they collect transfers from multiple sources in a holding account until they've all arrived properly and then set up the fixed rate ISA.

I've just had a variable rate transferred from A&L to Nationwide with no probs....

pennine

It is a fixed rate of 2.75 I believe, it's been that long ago now I'm not sure. If they had said that they were waiting for all funds to arrive I could understand

juicyjude

Dont get me started. Took me from 7th April (completed transfer form with Nationwide) till 20th May one ISA transfer, and 7th April - 8th June for the other!!!!!!! So many hours waiting to be put through to the ISA transfer dept, gave up on many occasions, spoke to branch, they couldnt get through either!!!!!!!!! Then they sent me eventually my certificate with incorrect interest ( I clearly stated I wanted monthly interest) and I eventually found out they had also set it up for annual interest to be credited to an incorrect bank account number, dont know whose, it wasnt mine!!!!!Got to wait another 7 - 10 days for corrected cert to arrive. They are as bad as Santander!!!!!!!! sorry to rant, just totally cheesed off with them

moorsey

Just popped on here to post my own complaint, Nationwide are an absolute waste of time, they reply quite quickly to messages via their website, but only with excuses, cheque has been received and interest backdated to this date so don't worry etc etc.

Surely it is just a case of entering the figure on the cheque into their system, they make out like they have this huge workload, but it's all on computers, I do wish the banks would join us in the 21st century instead of posting cheques to each other!!!!!

Nationwide confirmed they had received my transfer form on the 12th of May. To this date, I still have NO ISA, now over 2 months. So I have no access to the majority of my money (if I were to need it in an emergency) and I have not been able to add my money for this year, so despite what Nationwide say, I am missing out of cash.

I have written to the Financial Ombudsman Service with my complaint, but don't suppose that will be quick either, really bad stuff, but guess there is nothing else I can do.

juicyjude

(Big sigh) yes moorsey, they are a waste of time, no better than Santander. Why dont these governing bodies do something, it is shameful the way so many people have been treated over these ISAs.

moorsey

Just wanted to update on this.

Nationwide wrote to be a few weeks ago saying they were investigating my complaint and would write to me by the 28th July. They didn't, so I wrote them an angry letter, re-iterating everything I have said previously.

I then went on holiday until today and returned to a letter from them! To top of this continuing fiasco, they apologised for taking so long to get back to me, but the investigation was taking longer than normal because:

"we are still investigating the whereabouts of the provider cheque"

I am so angry!!!! Not only have they obviously been lying to me when they said me ISA was being processed, but they have actually lost the cheque for my ISA from Natwest!!! I was speechless to say the least.

The FO aren't interested, Nationwide are totally incompetent, so who does the customer turn to?? No one has any power over these banks and that is totally wrong.

I asked Nationwide in my letter, what they would do if I needed urgent access to my savings, wonder what they will say to that as I really don't know and glad I am not in that situation.

Updates will continue!

juicyjude

Well my saga just gets better. ISA eventually opened some months after initial form completed with Nationwide, as previously stated in another post I put on they sent the certificate (eventually) with incorrect interest rate as they had set it up for annual interest instead of monthly. Also set up with someones elses account number. Assured by branch staff who spoke to Head Office whilst I was in branch on the 12th July that all was now corrected and I would get my interest together with backdated interest from 22nd May on the 31st July. Guess what, no interest in my account. Back to branch last Saturday, on the bounce, tried to remain positive and calm (difficult) explained, to be then told that it was still set up for annual interest and still the incorrect bank account number showing on the screen. I went balistic, so upset, felt like crying. The branch staff to be fair have tried all they could, was told they have a lot of new staff at HO. I said they need sacking Upshot, I am going into branch tomorrow for a cheque, they said they would manually take it over to the bank, but I said I would go in and do it myself. So exhausted with it all, and totally fed up and stressed, upset too. Nationwide get a grip!!!!!!!!!!!!!!!!!!

gwapenut

Nationwide are best avoided. If you want better customer service, try Santander. And if you want better customer service than Santander, then try just about anyone else in the industry. That's how good NW are.

juicyjude

Quite amusing that gwapeut!! Eventually got my cheque today, it wasnt waiting for me. I had to wait in the ordinary queue for the clerk to make a cheque out, people behind me tutting and rolling eyes. One man asked me how much longer I would be, I replied as long as it took them to sort it out. I was determined I wasnt going to leave without the cheque. The asked me how much the interest should be, they couldnt work out 2 months l week interest at 4.15% on the pc. And they took my ID away, to dont know where. He told me just to check next month when the interest should hit my account! He didnt give me any confidence that it would be OK now. The I had to deal on the phone with Santander! Quick, get me a glass of wine. On a positive note though, have had dealings with Saga savings today, they are excellent from my experience. So all is not lost, just have to keep a sense of humour about today.