A&L Online Saver 5 - Faster Payments down again?

EalingSaver

Wish I'd checked out this thread earlier - and not just as a consequence of boredom while waiting on the phone with A&L. God. It must be 45 minutes from the time I started to the time I finished: and about 5 separate calls.

They really really are awful: and always have been.

Well, apparently closed now. We'll see.

Dustykitten

I went into a branch to close mine (ex abbey branch). I'd moved all the money out bar £1. They closed it in 10 minutes and gave me the interest (£78) in cash. No problems at all.

dali21

Is anyone still waiting for the cheque to arrive after closing their Online Saver 5? I closed my account by telephone on 2 August and was told it would take 7-10 days for the cheque to be issued. Checking the post everyday so just wondering if anyone else is still waiting? :mad:

juicyjude

Still waiting dai, zzzzzzzzzzzzzz hopeless arent they??? Of course, the money is sitting pretty in their holding account earning them interest.Hmmmmmmm we are losing interest daily. I closed mine on the 3rd August and spoke to someone yesterday who said they have a long list of cheques waiting to be issued, did they not realise that there would be a lot of people withdrawing that week????? He told me to be patient it will be processed in the "fullness of time":mad::mad:

dali21

Thanks for your reply, Jude. I'm annoyed about the fact they're earning interest on our hard earned savings too.
What does the "fullness of time" of time mean? Yet another example of how bad their customer service is - they can't communicate in plain English.

As soon as I get my cheque (hopefully this year) I'll post on here so anyone else who took the same foolhardy route of telephone and cheque will know how long to expect to wait.

:mad: :mad: :mad:

juicyjude

And me! Yes not holding my breath to be honest that we will get a cheque till at least the middle part of next week, but hey I could be wrong! Its like watching tumbleweed roll down a hill, no action whatsoever!

mycroftmill

On 2/8/10 my wife and I closed our Online saver 5 as the % rate had dropped and reinvested it in an esaver.

After 2 days the capital was reinvested but not the interest.

Today A&L say my wifes cheque won't be with us until 17th August; my interest has not, as yet, been calculated.

Previously capital and interest were reinvested electronically.

Based on what they've said A&L/Santander will have had an interest free loan for 3wks until this cheque clears. Multiply this by it's customer base and you can see how they became such a rich bank.

A&L Customer Services unable/unwilling to help and offering conflicting advice.

We are now looking for an alternative Bank fo our current and savings accounts

Froglet

That is why i think it's better to leave the nominal £10 in the account until the interest is added,then move the whole lot as usual.I am sure that is preferable than losing up to three weeks of interest on much higher sums,for the sake of a percentage or two on a small amount.

mycroftmill

Froglet wrote: »

That is why i think it's better to leave the nominal £10 in the account until the interest is added,then move the whole lot as usual.I am sure that is preferable than losing up to three weeks of interest on much higher sums,for the sake of a percentage or two on a small amount.

The capital was transferred but the interest, several hundred pounds wasn't. Didn't want to leave this with them until October at 0.1% interest.

Froglet

Gosh no i don't blame you if it is that much! Why on earth are they acting like this,do they not want any customers to stay with them ?

I hope they don't take over any other institutions.

My 1,000th post,took me exactly 4 years! :j