BEWARE SANTANDER ISA's

avi_3

I know there are a lot of threads. but i really think people should be very vary opening an ISA or any account with Santander.

Their customer service is appaulling.

Me and my wife both opened a direct ISA and flex ISA account with them towards the end of last tax year and had money from other ISA's transferred into them, as they were offering the best rates.

We are buying a property and now wanted all the money (£14000 each = £28000)

We have had lots of trouble accessing this money.

There is no online facilty to tranfer this money into our HSBC accounts.

Over the phone- they refuse to do the transaction saying the system has declined it and to try using a Santander cash machine.

Go and try cash machine and it declines the transfer.

Speak to staff at the branch and they say they cant do anything and to call customer services.

Back again over the phone and i get the same answer i.e try cash machine.

So after a week - WE are stuck, unable to access our own money- and having to postpone the purchase.

I can understand security - but not at the inconvinience of customers being unable to access thier money.

It defies logic as there were transactions from our HSBC into Santander last year and all we were asking is money back into the same accounts.

So BEWARE. Dont open accounts with them, b'cos they offer the best rates.

We have had ISA accounts with HSBC, Natwest, Nationwide and ING Direct - but never encountered problems like this.
:mad:

juicyjude

Heartly agree with you there. The extra few percent interest just isnt worth the hassle you get with this bank! :(

peterbaker

Is this for real?

I also bought an ISA with them towards the end of the last tax year.

You say you have been trying to get the money out for a week?

If that is true then Santander are behaving like a bank about to go bust.

I keep hearing moans about their customer service and I have received a lot of junk mail from them, but I wasn't worried until I read this thread

What the hell is going on with them?

le_loup

It is likely to be their computer systems. They will be adopting Santander computer standards and at the same time bringing together Abbey, A&L and B&B.
Asking for trouble.
Avoid.

digannio

Santander has become the most disorganised, chaotic, badly run bank on the market. I wouldn't touch them with a ten foot bargepole because the problems are infecting their products right across the range. Several months ago I closed a current account with them after a catalogue of troubles in accessing and moving my own money. They binned official telephone and written complaints but eventually issued a grovelling apology and paid out compensation because of the dreadful way I had been treated. I'd rather stick me cash under the mattress whatever they had on offer.

welshmoneylover

Is this for real?

I've been with Santander/Abbey/Abbey National for over 30 years and I've never ever had a problem.

OP, perhaps you and your Mrs chose the wrong product. An ISA should be seen as a long term savings account *barring transfers*

If you wanted the money so soon to buy property abroad, perhaps another savings account would be more suitable.

Enjoy your holiday home

peterbaker

Clearly in this case the OP was the best judge of where to keep these particular funds short term pending a possible property transaction. The problem is that 'Europe's biggest bank' is beginning to look like so much hot air, smoke and mirrors, like all the rest.

In 2010 it is quite incorrect for welshmoneylover to suggest that ISAs are long term saving accounts *barring transfers* whatever that is supposed to mean. The current year cash ISAs are marketed by all the banks on exactly the opposite tack i.e. you get decent interest only for one year only and "instant access" if you need it.

Back to the problem at hand, can anyone confirm whether it is straightforward to obtain "instant access" to Santander ISA funds by making a transfer from the ISA into a linked Santander current account via their online banking "Move Money" facility? And if it is possible to do that, what is the daily limit for a transfer of that type online?

caveat_emptor

Agree with the OP. Would never do business with this bank again.

kmb182uk

Can I ask the OP if he has sorted this problem out yet and been able to transfer his money?

I'm having similar problems with my Santander Direct ISA. I need to transfer money to another bank account but the online banking service does not allow this. I've just phoned them and at first the line just cut off. I phoned them back and got through to someone and explained the situation and he said that I was through to the wrong department and would put me through to the correct one, all that happened was that I was returned to the beginning of the phone call and had to enter all of my details again. I got through to someone again and explained the situation again, only to be told that I had to speak to the ISA team that was closed for the day and to call them in the morning. I've just got a bad feeling that it's going to take a while to get my money.

[Deleted User]

I been with Abbey/Santander for many years, and in recent months I had endless of problems with the bank. They used to be a reputable bank with e4xcellent customer service, but in recent months particularly since Santander took them over, their service has declined. I still have my current account with them but this is not my main account - I just left it open with very little activity. My advise to anyone considering opening an account with them is JUST DON'T DO IT - this bank has no idea of customer service probably due to their inept IT systems, but then, they been blaming their poor service on their systems for many years. I see now they are giving £100 to anyone opening an account with them - looks like they are now bribing customers. Absolutely dispicable attitude...

bluffer

one of the big problems is they are trying to integrate abbey systems with a&l systems and b&b systems.


they are trying to grab market share while trying to merge the old computer systems - never a good mix.