Santander Fixed Rate ISA

Jenny16

I opened a Santander Fixed Rate ISA online 10 days ago. When asked how I was going to pay in funds, I gave my Cahoot joint current account details.

I had an email saying the account was open, and I transferred the funds online.

But a few days ago I received a letter saying that I could not pay funds in from that account, as funds have to come from 'your own' money. They say they will close the account within 30 days if I don't find another way of paying in the funds. The money is still there, in the ISA, at the moment.

I don't have any other way of paying in funds other than from the joint account, and I have always opened ISAs in this way before. Surely money in a joint account with my husband is 'my own' money.

I have spoked to 3 people from Santander and they don't understand the problem, just saying that our current account is locked (it isn't), or that I need to go into the branch (Cahoot is an internet based bank!), or that my name isn't on the joint account (it is).

I'm just getting nonsense from them. They said they would email me about this, but haven't.

My husband has had the same letter.

I'm concerned that they will close our ISAs in 30 days, and we won't have ISAs for this year.

I've had so many problems with Santander over the years - I should never have tried to open this ISA.

Has anyone else had this problem?

innovate

Oh dear, this sounds a complete nightmare, probably caused by Santander's systems being incapable of dealing with funds coming from a joint account.

Have you spoken to the ISA team on 0800-587-2764? They appeared pretty clued up on things when I called them recently (about a different question).

Or just go straight to their Complaints Team. Companies generally staff their complaints team with people who can do more than read from a script.

To tell us if you have a new issue or problem:
Call us immediately on 0845 600 6014 (select option 1)

If you select this option, we are open 8am - 8pm Monday to Saturday and 8am - 6pm Sundays.

Good luck!

Jenny16

Thanks very much Innovate. All the nonsense came from the ISA team on that number.

I'll try the Complaints people.

Mickygg

Just because you have opened an ISA you don't have to fund it. Open the BM 2 years fixed rate at 4.05%.
Either that or just open an on line account in your own name and transfer from that. A bit of a pain I know but should work.