Santander 2year fixed isa @ 4%

purplestar133

I'm transferring from Halifax into the 2 year fixed rate with Santander (upgraded from Flexible ISA 4). Today there is an entry on my online statement that says something like 'cheque paid in at banking centre'. But then the money is taken out again and the entry says 'ADJUSTMENT .VALUE DATE .CHEQUE PAID IN AT BANKING CENTRE'. Then it is paid in again, then taken out again and finally paid in again. What is going on?! Has anyone else had similar entries on their statement?

Do you think I will be penalised in any way for the money going in and out three times without anything to do with me?!

Lee76

luci wrote: »

I called tonight and spoke to someone within 5 mins. Managed to transfer mine, but had to listen to reams of T&C's both spoken and recorded.

I have checked online and they have both been transferred.

I've just done the same and transferred my Cash ISA to the 2yr ISA. I've checked online and it looks like its gone through.. should I expect to receive an interest payment for my last bit of Cash ISA interest, or will it all just be lumped together in my first 2yr ISA interest receipt?

whiteside

Lee76 wrote: »

I've just done the same and transferred my Cash ISA to the 2yr ISA. I've checked online and it looks like its gone through.. should I expect to receive an interest payment for my last bit of Cash ISA interest, or will it all just be lumped together in my first 2yr ISA interest receipt?

If its like my upgrade then I received interest from 2 march to day of upgrade (today in your case). Interest calculated will probably show on your Internet banking tomorrow if you check.

Siobhan789

purplestar133 wrote: »

I'm transferring from Halifax into the 2 year fixed rate with Santander (upgraded from Flexible ISA 4). Today there is an entry on my online statement that says something like 'cheque paid in at banking centre'. But then the money is taken out again and the entry says 'ADJUSTMENT .VALUE DATE .CHEQUE PAID IN AT BANKING CENTRE'. Then it is paid in again, then taken out again and finally paid in again. What is going on?! Has anyone else had similar entries on their statement?

Do you think I will be penalised in any way for the money going in and out three times without anything to do with me?!

It's ok it happens with all transfers it's just them changing the interest dates & bk dating it,
It's normal don't worry

whiteside

Siobhan789 wrote: »

It's ok it happens with all transfers it's just them changing the interest dates & bk dating it,
It's normal don't worry

Siobhan - my isa transfer from Halifax is showing as cheque paid in today. . Can you or anyone else confirm when interest starts being earned on this amount? Is it only after cheque clears?

Siobhan789

whiteside wrote: »

Siobhan - my isa transfer from Halifax is showing as cheque paid in today. . Can you or anyone else confirm when interest starts being earned on this amount? Is it only after cheque clears?

Like the above poster u should see a payment goin in then out then bk in again there will b a date next to the second one that came in, that is the dated interest is paid

Ie
10 th payment in
10th payment out
5th payment in
I hope this makes sense if not call Isa help desk they will tell u the exact date

luci

Lee76 wrote: »

I've just done the same and transferred my Cash ISA to the 2yr ISA. I've checked online and it looks like its gone through.. should I expect to receive an interest payment for my last bit of Cash ISA interest, or will it all just be lumped together in my first 2yr ISA interest receipt?

I've just checked online. I transferred on 20 March and the initial amount showing was as per the letter I received a few days beforehand. The remaining interest from 2 March is now showing as a separate entry also dated 20 March.

One of the questions I asked, seeing as it is a 2 year fixed rate, was whether I would get 4% interest from transfer date to maturity date on 1 May 2014, seeing as this is more than 2 year and I was told I would.

sorcerer

I posted the forms off for this last monday (12th March), but the money hasn't even left my currennt provider yet, any idea how long the process will take for this. Should I start chasing Santander up?

savetilibleed

sorcerer wrote: »

I posted the forms off for this last monday (12th March), but the money hasn't even left my currennt provider yet, any idea how long the process will take for this. Should I start chasing Santander up?

Certainly chase. It's halfway through the 15 day period it should be at maximum. My form was posted on 12th, like yours, left the account where the money was coming from on 16th (I was able to check online) and was in Santander account on Monday 19th. If you know from Santander that they have applied for the transfer, you know who you need chase after that!

I must admit I was surprised at the speed of the transfer in my case.

sorcerer

Ok I'll check to see if anything has happened tonight, then if not I'll chase them tommorow.

Did they tell you the transfer had happened or did you just see the money turn up in your account?

savetilibleed wrote: »

Certainly chase. It's halfway through the 15 day period it should be at maximum. My form was posted on 12th, like yours, left the account where the money was coming from on 16th (I was able to check online) and was in Santander account on Monday 19th. If you know from Santander that they have applied for the transfer, you know who you need chase after that!

I must admit I was surprised at the speed of the transfer in my case.