Think Santander/Halifax have cocked up an ISA transfer..?

Siobhan789

The others r right u can't only transfer all or nothing of this years allowance, u can't only spilt previous years

Nine_Lives

Siobhan789 wrote: »

The others r right u can't only transfer all or nothing of this years allowance, u can't only spilt previous years

Don't you mean that you can only transfer all/nothing of this years and that you can split previous years?!

Anyway, i've told the gf about it & she's going in branch tomorrow. I've told her she'll likely not get seen - it's Saturday & they'll be dealing with all their ISA appointments that have been booked in no doubt. She'll be better off phoning up.


Question is - who would your money be on when it comes to blame? Halifax or Santander? Someone has actioned something wrong. I've re-checked the transfer form & it was filled out correctly - to leave £1 remaining.

oldvicar

K_P83 wrote: »

Question is - who would your money be on when it comes to blame? Halifax or Santander? Someone has actioned something wrong. I've re-checked the transfer form & it was filled out correctly - to leave £1 remaining.

In this case, Halifax, for acting incorrectly upon the instructions given on the form.

Unless it was a stupidly designed form designed by Santander and open to (mis)interprettion, in which case they should share the blame.

Nine_Lives

This is the form used: http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=DocumentoGS&canal=CABBEYCOM&cid=1237909924844&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FDocumentoGS%2FDocumentoGSPreview

She went into Halifax today who basically blamed Santander. They said all they do is sign the cheque for the amount requested.
They said that by transferring the money out will mean that she will only receive 3.2% on the £1 left in, the rest will have been at 3%. My gf tells them the account just needs to be kept in credit & that the amount transferred should've received 3.2% because the account should still be open.

So she goes to Santander & gets a woman who tells her you can't partially transfer ISA money from previous tax years. My gf tells her you can, so this woman checks with another member of staff to find out that yes you can.
They then say they can't deal with it & she'll need to call the ISA team.

So my gf comes home & calls them to be told that the form was filled out CORRECTLY & that they can't understand why £1 hasn't been left at Halifax.
They said that if Halifax refuse to pay up 0.2% then Santander will pay it. I told her i would've had this in writing but she never asked.

Question is ..... how do you know how much interest Halifax has applied? We don't know how much was in the account during the year. We know that it had 5ksomething in when the account was opened and at SOME point this was reduced by a withdrawal to £2.7k. We have no dates or specific figures (other than the final figure as i still have a copy of the form) to work the interest out.



And then i come home from work to find a letter from Santander telling me that my account has been upgraded to a 2yr fixed ISA as requested. Only problem ........... I ASKED FOR A 1 YEAR FIXED!!!! So i get on the phone & ask why every single request gets ballsed up. I explain the current situation. The woman apologises profusely, so i tell her i'm not blaming HER, but Santander are shocking. I don't think they've got anything right.

To cut that story short, after getting cut off the line & then re-calling, i found that my account is indeed a 1yr fixed, but the letter was sent out with incorrect information on it.

AirlieBird

K_P83 wrote: »

Question is ..... how do you know how much interest Halifax has applied? We don't know how much was in the account during the year. We know that it had 5ksomething in when the account was opened and at SOME point this was reduced by a withdrawal to £2.7k. We have no dates or specific figures (other than the final figure as i still have a copy of the form) to work the interest out.

Sounds a bit of a mess. Halifax will send a closing statement that gives the interest paid.

Nine_Lives

AirlieBird wrote: »

Sounds a bit of a mess.

Sure is.

That said, next year we'll be buying our own place hopefully & my accounts will be severely reduced as the money gets put on a deposit, meaning i'll no longer be with Santander & should be banking problem free then

Siobhan789

K_P83 wrote: »

Don't you mean that you can only transfer all/nothing of this years and that you can split previous years?!

Anyway, i've told the gf about it & she's going in branch tomorrow. I've told her she'll likely not get seen - it's Saturday & they'll be dealing with all their ISA appointments that have been booked in no doubt. She'll be better off phoning up.


Question is - who would your money be on when it comes to blame? Halifax or Santander? Someone has actioned something wrong. I've re-checked the transfer form & it was filled out correctly - to leave £1 remaining.

Sorry u are right I meant can

pqrdef

K_P83 wrote: »

She went into Halifax today who basically blamed Santander. They said all they do is sign the cheque for the amount requested.

I bet they do. They are of course perfectly well aware that if they close the account early, it saves them money, and that they deliberately concocted this trap (which is all it is) with that in mind.

Not surprising if they don't want their branch staff to be too clear on how it works.

CKhalvashi

K_P83 wrote: »

So my gf opens up a 1yr fixed with Santander.

She has a "this years" ISA with Santander, which she transfers into the newly opened 1yr fixed.

She fills a form out to transfer all but £1 of her "old money" ISA with Halifax, which she instructs to be transferred into the Santander 1yr fixed.

Reason behind all but £1 is that she's had 3.2% on the account for some time, but needs the account credited to get the 0.2%, otherwise it'll only be 3.0%.

Logs on today to check whether the transfer has gone ahead...

The money doesn't show in Santander, but in her Halifax online account, it says "Account Balance N/A",

When she opens the account, the last entry is 9th May 2011 for £5.2k, yet she knows she made a withdrawal AFTER this date & that her actual balance is only £2.7k

Does this sound like something funny either either Halifax or Santander, or have others who've done the transfer experienced this?

Santander have just !!!!!!ed up a £52k ISA transfer from Natwest, and I’m 50/50 as to whether I want to leave another £5.5k with them for the next 2 years, to transfer on 6.4, however OH’s has just gone straight through with no issues at all.

My personal thinking is that they’ve taken the £1 and closed the account.

CK

Nine_Lives

You make an interesting point - i [generally] have very little issues with things like this. I've complained a few times & in the process i've received a £50 apology twice. My gf got nothing. We don't complain to get paid, we complain because we're P'd off!!
This transfer is pretty much the first issue i've had. Anything else has been quite minor. Even this has turned out to be relatively minor as it was just the wrong letter sent out. It could've potentially been worse, but it wasn't.

The gf seems to get issues every time. I call up & get problems sorted. She calls up & encounters new problems.

She's also more passive on the phone than i am. I had a go about Santander on the phone to the woman yesterday. I told her that i'm not blaming her personally (being in a customer based job myself, i appreciate customers directing their anger at the wrong person), but that i'm so royally ticked off with Santander & their incompetence. Not just on one occasion, but many. I didn't want the woman to think i was rounding on her as ATEOTD it's not her fault.

Anyway, let's hope this gets sorted.