Santander 2year fixed isa @ 4%

savetilibleed

Santander seem to do things in a way that is almost bound to create problems.

I have a 2yr FR Major Santander ISA and a transfer in went smooth and quick.

By contrast I opened a Direct ISA and wanted to transfer in from ING. So I completed the form at home and posted it off with a covering letter. When I called ING to progress, they told me there was no signature on the form. So I guess I must have forgotten somehow. But Santander still posted it to ING, minus the signature, with my covering letter I included with the form to Santander. Did they somehow think (or not) that the signature on the letter would do? Anyway ING rejected it back to Santander. I was later advised by both Santander and ING to start again with a new form preferably by going to a branch.

I did this today, they completed the form and I signed it. They said sent it electronically there and then. Whilst the guy was photocopying the signed form for me, I though - how can an electronic copy have my signature on it?? Apparently it will have from a copy, an image, of my signature. (Last time I recall then having an image is on the signature strip on a passbook years ago!!) But it isn't actually me that 'signed' that form? Will it get rejected again? The guy said they would post the form to their head office too!! :mad: Grrr

funkyhitman

dave_ave wrote: »

Fast forward to Wednesday night and I went onto First Direct Internet banking to transfer £5,640 into the ISA. Great, but this morning it was returned - not so great. Santander say I have to complete a declaration in branch and to take some ID. I go into my local branch and sign a declaration. Young chap behind counter says the bar on deposits is lifted and I can add funds. Earlier today I transfer £5,640 and guess what? Money has been returned yet again!

Why do they make it so complicated? Another call to Santander I think!

You had me worried so I've just checked my current account and so far no money has been returned. I transferred full amount Sunday 8th and it went in via faster payments Monday 9th (even though my bank stated it wouldn't leave until Tuesday 10th!). Not sure why you have a restriction and others don't. Hope you get it sorted.

RobStaffs

In good time I completed all the required paperwork to transfer my ISA over to Santander.My old ISA provider confirmed that they had received the request to transfer funds on maturity date. ie 6th April .I look on line every day and still no funds.Emailed Santander and they say it is in progess. Should I be worried?

innovate

RobStaffs wrote: »

In good time I completed all the required paperwork to transfer my ISA over to Santander.My old ISA provider confirmed that they had received the request to transfer funds on maturity date. ie 6th April .I look on line every day and still no funds.Emailed Santander and they say it is in progess. Should I be worried?

Need to be patient for a bit longer. Guidance to banks is that they should complete transfers within 15 days.

They'll probably pay you interest from receipt of the transfer request, anyway - most of the half-decent ISA providers do that.

Chino

They'll probably pay you interest from receipt of the transfer request,
anyway - most of the half-decent ISA providers do that.

The letter I received from Santander when I transferred a previous year's ISA to the Santander 2 Year Fixed Rate Major ISA stated:

"Please note that the deposit will be backdated to the same date your account was closed with your previous provider."

nnppaa

Santander will pay interest from the date the transfer app was signed!

dave_ave

funkyhitman wrote: »

You had me worried so I've just checked my current account and so far no money has been returned. I transferred full amount Sunday 8th and it went in via faster payments Monday 9th (even though my bank stated it wouldn't leave until Tuesday 10th!). Not sure why you have a restriction and others don't. Hope you get it sorted.

Went into the Santander branch in town on Friday with a cheque. Woman behind counter said I couldn't pay it in as the system was preventing it. She went on to say there had been no credits this financial year though. She made some calls and eventually system allowed the cheque to be paid in - luckily as it was my last day to do it!

innovate

dave_ave wrote: »

Went into the Santander branch in town on Friday with a cheque. Woman behind counter said I couldn't pay it in as the system was preventing it. She went on to say there had been no credits this financial year though. She made some calls and eventually system allowed the cheque to be paid in - luckily as it was my last day to do it!

What was your cheque for, and who was it from?

Was it for an ISA? What sort of ISA? fixed-rate/fixed-term one?

Which Friday are you talking about? 14/04/2012 or 6/4/2012? If any of these two, why were they "your last day to do it"?

ses6jwg

just a heads up that if you opened your ISA in the 11/12 tax year the deadline has been extended on the fixed rate ISAs to the 31st of May to pay your 12/13 cheque in.

badger09

ses6jwg wrote: »

just a heads up that if you opened your ISA in the 11/12 tax year the deadline has been extended on the fixed rate ISAs to the 31st of May to pay your 12/13 cheque in.

Thanks for this. I couldn't see any announcement on the website but when I logged into my current account, I now have the option to move money into my 2 Year FRISA opened 2nd March :T.

Could be a very handy and straightforward 'Plan B', depending on outcome of visit to Nationwide branch next week