Santander slow to pay out

electrophotic

I emailed Santander last month asking to close my online savings account, and requesting them to transfer the closing balance to my NatWest current account (like all previous withdrawals I've made). After a couple of days they informed me it was not possible to do this, and for account closures they would have to send a cheque to my 'registered address'. I agreed to this on 1 November. They closed the account and confirmed that a cheque would be sent to me. I received nothing, and on the 8 November sent them a reminder. They emailed me back with the following: "We can tell you that the account xxxxxxx was closed on 01-11-2011 and the cheque was issued to your registered address. You should receive this cheque in two weeks." TWO WEEKS? It is now 11 November and I'm still waiting, and I've got bills to pay .......

Sceptic001

This is a common problem with many banks, not just Santander.

The answer (not much help to you now, but for future reference) is to transfer all the money out to the linked account before closing it.

electrophotic

Thanks, sceptic. I did get most of it out, as you suggest, but the interest was credited to the account a few days later - I guess I should have transferred this too, before closing it. I'll remember next time.

ses6jwg

Sceptic001 wrote: »

This is a common problem with many banks, not just Santander.

The answer (not much help to you now, but for future reference) is to transfer all the money out to the linked account before closing it.

The quickest way is, as has been said, transfer the bulk of the funds out leaving a £1 in there, then take the account number and some ID to a branch and they should close it there and then and give you cash for the residual interest.