Transferring savings between Santander ISAs

badlydrawnguy

Hi all

Firstly, thanks for all the great advice on here. It's really useful.

Last week I opened a new Santander 1 Year Fixed Rate ISA (Tax year 2012-13) with the max allowance. Prior to this, I had a Flexible Cash ISA with Santander (Tax year 2011-12) which has the full allowance but not paid into this tax year.

Bearing in mind the 14 day transfer-in period, I wanted to transfer all the money from the Flexible Cash ISA into my new 1 Year Fixed Rate ISA. Santander seem to be making this extremely difficult for me!

I read the website and I can't download a form to send off - I have to visit a branch or phone. Well, I visited a recent branch yesterday, explained the above and they didn't know how to do this for me. So I rang the number and thought I had made progress in transferring my ISAs but have actually just upgraded my Flexible Cash ISA to a 1 Year Fixed Rate ISA.

I rang back up and explained I wanted my old ISA combined with my new one. They said I need to complete an internal form at my local branch. Giving I only have 6 days left of my 14 day transfer window, I'm starting to get a bit itchy!

Can anyone please help?! I maybe didn't explain it amazingly well in branch, but surely this cannot be an unusual scenario... As it stands, I'll make less profit on two new Fixed Year ISAs than one combined.

Many thanks

innovate

badlydrawnguy wrote: »

So I rang the number and thought I had made progress in transferring my ISAs but have actually just upgraded my Flexible Cash ISA to a 1 Year Fixed Rate ISA.

Can you just confirm please - - you now have 2 x 1 Year Fixed Rate ISAs?

1. that you opened last week and funded with the full £5,640 for this tax year
2. your last year's, that they have now upgraded on the phone for you?

If so, you should be able to relax - - at least you are getting the right interest, and there is nothing illegal about having two ISAs like above. Obviously, it would be a tad easier to just have one ISA, and may be eventually they will manage to do this for you!

May be raise a complaint on the internal messaging system, or email [EMAIL="complaints@santander.co.uk"]complaints@santander.co.uk[/EMAIL] saying you feel like you are being asked to turn in circles and are getting nowhere fast? You can also call them on 0845 600 6014 but it could be a long call and cost you more time and nerves than you're prepared to spend on this. Might be better to ask them to put things in writing for you.

badlydrawnguy

Thanks for your fast response. Yes, I can confirm that I have 2 x 1 Year Fixed Rate ISAs as described.

I've been getting myself muddled up here in my calculations. The interest accumulated on two separate fixed interest ISAs won't save any less than having them combined. That's what I was worried about.

I'd rather have one combined, but you're right - more cost, time and nerves I'm prepared to spend for the sake of cleaning!

Just to add, the staff I spoke to both in branch and on phone were friendly and as helpful as they could be, so while I perhaps have felt like I've gone around in circles, I wasn't so frustrated I couldn't deal with them. This is the second ISA I've ever opened so I'm still new to get my around it. Thanks again for your help!