Santander First Home Saver interest issue

beefturnmail

Make sure the interest is backdated to when it should have been paid. I would also ask for compensation - you shouldn't have to go to these lengths just to make a bank calculate interest correctly.

KI2000

Yeah, I asked him to confirm the backdated interest in a letter. Still no call from him today. I rang in and the Branch Manager answered saying he was in a meeting and he'd call me back after 4. He did not.

I really shouldn't have to do this to get what they are contracted to give me but not sure how I go about getting compensation. I don't particularly feel comfortable about asking and I'd just fold under the slightist resistance.

KI2000

Had to chase them yesterday. I was told they would ring back. They didn't
Chased them lunchtime today. I was told they would ring back. With less than a hour to go they hadn't so I rang them.
This time they rang me back and said they'd not been told about my messages and they were held up in meetings and being out of branch.
Anyway, it's been transferred to Head Office now to sort out the exact sum owed. Should get back to me in 48 hours

iom_dave

Am having similar issues - last year it happened and one month interest was missed and eventually got my interest back. This year about a third the interest is missing, so started the process again.

Following my query, got a letter back saying that the account only pays if the money is paid in between 4th and the 3rd of the following month. My account was opened on the 4th, so I guess that is where the number come from.

The thing is, this is completely rubbish, it says quite clearly on my application form and my t&c that i have to pay money in between the 2nd and 21st of each month. Also my first payment started on 2nd - stated on the application form. As a result, if the 2nd is at the w/e it goes in later or if 2nd is a weekday goes in that day, causing some months to be double counted.

I think the reason it has only come to light now is that the faster payment system means my money used to leave my account on the 2nd and reach santander on the 5th, whereas now it gets there quicker.

Anyway phoned up to complain, told to go to the branch - to provide proof of my application form - tried them last year and were completely useless. Threatened the banking ombudsman and then got put through to complaints. Nice guy was quite understanding and agreed that they will have the original form etc, so they will look into it. Will see what happens after christmas.

I can understand how this has happened, but I can't be the only one and also how many others have been paid less than the amount owed?

singstar

Just reading this thread as having issues with Santander-in branch they told me the rate drops to 0.10.
Are you still recieving 5%?

Thanks

rb10

singstar wrote: »

Just reading this thread as having issues with Santander-in branch they told me the rate drops to 0.10.
Are you still recieving 5%?

Thanks

The branch are wrong.

It is still paying 5%.

See http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223419040757&cachecontrol=immediate&ssbinary=true&maxage=3600 (page 10).

Even when the account was available to new customers, branches opened very few of these accounts, so people have frequently been given incorrect information. Unfortunately, branch staff tend to confuse the account with the Monthly Saver accounts, which do drop to 0.1% after a year.

The First Home Saver account will continue at 5% until the rate shown on the website drops.

gadgetmind

rb10 wrote: »

Even when the account was available to new customers, branches opened very few of these accounts, so people have frequently been given incorrect information.

The first couple of people we spoke to at our small local branch were the usual clueless knuckle-dragging mouth breathers, but we were then sat down with what might have been their only sentient being and she knew *everything* about the account, including how careful you had to be with payment dates.

Never ever hire clueless people, and particularly not into customer service positions as you really don't want to show your ar5e to the world.

KI2000

EVERY time I go into the branch to talk about this, they tell me things that are incorrect about the account. Last time, I was told I only received the 5% interest on the very first deposit in the account.

EVERY time, after lengthy discussions, they agree that I am correct.

It annoys me that I have to do this EVERY SINGLE TIME. Just don't accept it or you'll lose out.

Tbh, I'm rather hoping the rate drops to remove the only thing stopping me from closing it.

rb10

KI2000 wrote: »

EVERY time I go into the branch to talk about this, they tell me things that are incorrect about the account. Last time, I was told I only received the 5% interest on the very first deposit in the account.

EVERY time, after lengthy discussions, they agree that I am correct.

It annoys me that I have to do this EVERY SINGLE TIME. Just don't accept it or you'll lose out.

Tbh, I'm rather hoping the rate drops to remove the only thing stopping me from closing it.

Why do you need to keep going into the branch?

I have had no need to set foot inside a branch for this account since opening it.

KI2000

rb10 wrote: »

Why do you need to keep going into the branch?

I have had no need to set foot inside a branch for this account since opening it.

I had to go in a couple of times to sort out the above issue and also to check that what they'd told me then was still true. When I've rang up, it's exactly the same. And I had to ring up plenty of times with this issue.