Santander - Bond not paying the interest!!

ipri

Hi....same happening to me...I thought something was wrong when we didnt get a statement of interest and rollover options...also they made excuses for not telling us the interest in branch on 2 occasions...they were quick, however , to ring to make appointment to discuss options in branch....its all coming out.

PS...have rang complaint "help line".....did'nt help.....clueless.

london2008

I would suggest that once the interest is finally added to the account that you write a letter of complaint to Santander explaining the issues you have received and request compensation for your troubles and time spent sorting it out.

If that doesn't work (you will probably just get a sorry letter) take the complaint to the FSA as Santander had acted incorrectly.

I'm talking from experience. I took a complaint regarding Santander to FSA and they ended up paying out £100. It only took me about an hours work.

kostigovs

Mine was not a loyalty tracker bond but a 2yr fixed rate bond which matured on 1/11. Like others the capital was in my Santander instant access saver a/c yesterday morning but not the outstanding interest. Both customer services and the local branch told me it would be paid in overnight. Still waiting.

ipri

I'm due to go in tomorrow...if the interest is not there...should I wait?...take the capital out or what??

kostigovs

I recently opened a bond and opted for monthly interest which was due to kick in yesterday. Phoned to see if that too was affected but apparently it is only maturing 1/11 bonds. Guy on the other end of the phone very helpful but hasn't got any idea when the IT problem(s) will be solved. He's hoping within the next 24 hours.

Freefone number if anyone wants to get in touch is 08003899875

suchard007

I am having the same problem with my bond that matured yesterday 1.11.11. Capital received - but no interest. It's actually a relief to see that others have the same problem - at least it's not just me. Lesson learnt (not for the first time) Santander are pants - they're not getting my money again. Their interest rates will have to be outstanding for me to entrust money to them again. Serious complaints are called for at the end of all this - it's not acceptable!

ses6jwg

There is a problem with some bonds that have matured 1st November.

It is being dealt with as a matter of urgency and the branches have been told that nobody will be financially disadvantaged.

Harassing your local branch and the call centres won't help as they have no control over the situation. It is being resolved as we speak.

ICV

"nobody will be financially disadvantaged"
If that means compensation for loss of interest plus a few quid for the inconvenience / panic (my immediate thoughts were - OMG Santander are going under) caused then fine.

ipri

I'm looking to place money into good account...but it will be "pulled" soon...what about loss of interest by missing deadline?

ses6jwg

ipri wrote: »

I'm looking to place money into good account...but it will be "pulled" soon...what about loss of interest by missing deadline?

Not sure what you mean here.

All accounts are limited avaliablity and can be withdrawn at any time.

Unless it was due to a Santander error you missed the deadline then its tough cookies.