Santander ISA cockup - got compensation

pbolding

I tried to open a new Santander cash ISA online in March for the new tax year, so that I could fund it on April 6. They sent me a proforma letter rejecting the application, saying I couldn't because I had already subscribed to a cash ISA in the 2010-11 tax year. The letter told me to wait until the new tax year and also missstated the ISA allowance for 2011-12.
I complained (adding in poor service at a local branch when I tried to open the account there) and have just got £45 compensation. I finally opened it online on April 6 so maybe lost three or four days interest.
Since it was a proforma letter, others may have got it and may want to try their hands. Santander have admitted in reply that you can open a second cash ISA in the same tax year, though you cannot fund it.

dunstonh

Santander have admitted in reply that you can open a second cash ISA in the same tax year, though you cannot fund it.

Generically, you can open as many as you like with the same ISA manager. The funding limit is per ISA manager. Not per product. However, some product providers do put their own restrictions in.

bigfreddiel

pbolding wrote: »

I finally opened it online on April 6 so maybe lost three or four days interest.

I don't quite understand how you lose 3 or 4 days interest - I opened and funded an isa with Stroud & Swindon on 6 April - days lost in interest - 0.

And how much are we taking about - less than £1 a day I imagine so don't worry too much

fj