Transferring to santander ISA (issue 6) 2.75% how long do they take?

trinidadone

hi all,

I currently have a First Direct ISA which is paying 3% until November 2010. I am now looking around at a new ISA to put my money in. I am thinking about santander. Has anyone transferred from another ISA to a Santander ISA, and if so, how long did it take?

I think the FSA say the bank has 30 days from receiving the transfer request. Any ideas/suggestions?

FYI I have a bank account with santander already

juicyjude

Hubby has been told today his isa from one Santander isa to another still with Santander could take another 2 weeks, total at least a month to do an internal transfer!!!!!!!! Shocking!

spike87

I originally had a Direct ISA with Abbey (Issue 3) and at the end of the year I phoned them to switch to Issue 6, at 2.75%. The transfer was done over the phone and took less than 5 minutes.

However, I've heard some shocking reviews about Santander and transferring from another company.

Lokolo_2

So many people ask this question, and there isn't an answer!

Most of the time it depends on the individual transfer, how and when its initiated, by whom, as some have said, Santander isn't the best for customer service :rotfl:

W40K

juicyjude wrote: »

Hubby has been told today his isa from one Santander isa to another still with Santander could take another 2 weeks, total at least a month to do an internal transfer!!!!!!!! Shocking!

Is his ISA with Santander or A&L?

In regards to the original question the official statement is "up to 30 days". This is not Santander's choice but the timescale involved in transferring an ISA from any provider to any other provider. The process is

1. Open new ISA and complete ISA Transfer form
2. Santander send ISA transfer form to your existing holder
3 Existing holder send SAntander(you) the money within 30 days

blueberrypie

W40K wrote: »

In regards to the original question the official statement is "up to 30 days". This is not Santander's choice but the timescale involved in transferring an ISA from any provider to any other provider.

It's not the "timescale involved" - it's how long the banks are *allowed* to take.

There really isn't any good reason why it should need 30 days, or even a week. There's no reason why the banks shouldn't get their act together and use electronic transfers for ISA transfers, which could easily reduce the transfer time to a few days at most. They just don't because nobody is forcing them to do so.

ses6jwg

blueberrypie wrote: »

It's not the "timescale involved" - it's how long the banks are *allowed* to take.

There really isn't any good reason why it should need 30 days, or even a week. There's no reason why the banks shouldn't get their act together and use electronic transfers for ISA transfers, which could easily reduce the transfer time to a few days at most. They just don't because nobody is forcing them to do so.

I agree, the transfer process is nothing short of ridiculous.

It can vary wildly. I did a transfer from A&L to Halifax took about 2 weeks.

I've seen some take about 60 days, for example one coming to A&L from Halifax - Halifax refused to release the cheque and even told us that the customer had cancelled the transfer, he hadn't!

juicyjude

Its ridiculous. It is transferring from a Bradford and Bingley to Santander. He went into branch and arranged it there. Sorry but 4 weeks is a joke, no excuses accepted!

juicyjude

And he wasnt told when he arranged it that it would take 4 weeks.Pathetic