Santander ISA does not allow cash withdrawals!!

michael1234

The friendly-ish SAntander chap just told me that I can't withdraw the money via the online banking screens and that it would have to be in branch or via the telephone (during weekday office hours when many people are also at work and don't want to spend a long time managing their personal affairs with the boss roaming around).

Well, I'm now resigned to the fact that I should attempt to withdraw/transfer this money LONG BEFORE I need it just in case there are more hurdles. I've never had any kind of saving account that I can manage online that doesn't allow me to withdraw !

I do have a cash-card which is somewhat odd for an ISA account and certainly not adequate for withdrawing a couple of ISA allowances into another bank! (Taking cash out of the machine every day for several weeks - not very good really).

Interesting that there is no problem adding more money via the web site but withdrawing it is more problematic.

ManAtHome

See post #8 - you need to get a form to nominate a linked account.

Note that if you open any other account you have a 50/50 chance of losing the linked account and/or getting a new set of sign-on details and/or getting a new cashcard even if you apply when logged in and tell them your existing account and cashcard details.

Santander - does take me back to the good old days (Basil and Manuel...).

2sides2everystory

Another method of draining the account which works is to use Halifax's ISA Direct Reward to do the extraction for you with zero/minimal loss of interest - they start paying you interest in the new Halifax ISA from the day your transfer form is received at Halifax. No need to deal with Santander directly at all.

Santander - does take me back to the good old days (Basil and Manuel...).

¿Que?

Now then now then ... I feel an inane giggle coming on ...

Stompa

2sides2everystory wrote: »

Another method of draining the account which works is to use Halifax's ISA Direct Reward to do the extraction for you with zero/minimal loss of interest - they start paying you interest in the new Halifax ISA from the day your transfer form is received at Halifax. No need to deal with Santander directly at all.

True, though withdrawing from the Halifax Direct Reward ISA is also not completely straightforward.

rb10

Stompa wrote: »

True, though withdrawing from the Halifax Direct Reward ISA is also not completely straightforward.

A five minute phone call to transfer money to any UK bank or savings account.
Or an instant online transfer to any Halifax/Bank of Scotland account.

If you've been having problems with this then it would be worth phoning to check that there are no blocks on your account. This can happen if you don't return the signed application form or haven't provided them with sufficient ID.

Stompa

rb10 wrote: »

Or an instant online transfer to any Halifax/Bank of Scotland account.

Yes, but that assumes you have another Halifax account, or have opened one specifically for the purpose of enabling you to make a withdrawal from your ISA online.