Santander transfer

Hayleyf605

Hi, I'd be grateful for any advice anyone might have. I completed a transfer form to transfer my last years isa from Natwest to Santander. The money has gone but neither knows where it is! The money has gone but Santander says they haven't received it. What do I do? Who would be ultimately responsible for reimbursing me if the money doesn't transfer correctly? I'm a bit worried!

innovate

When did you send the transfer request form?

How long ago has your money 'gone'?

If less than a couple of days, relax, it will turn up, Natwest might have sent a cheque, it will take the usual time to clear.

If a lot more than just a couple of days, raise a written complaint with [EMAIL="complaints@santander.co.uk"]complaints@santander.co.uk[/EMAIL]

The bank responsible for your transfer is Santander.

DragonQ

Santander told me that they start giving you interest from the date that the old ISA is emptied (so you don't have any days without interest).

So even if the cheque is still on its way or even lost in the post, you should be earning interest regardless.

Hayleyf605

Thank you, I think I'm getting the run around. The money has gone for a few days. Santander said its nothing to do with them and they will send me a letter confirming they haven't received the money so I can pursue it with natwest but they've said it's not their problem and they can't help me find my money!

innovate

You didn't tell us when you sent the transfer request form, and exactly how long ago has your money 'gone', so it's difficult to say whether you should need to be concerned.

It is the receiving provider's (in your case: Santander's) responsibility to do all the chasing.

Therefore, Santander telling you it is not their problem is quite outrageous.

On Santander's very own website, there is a guide to ISA transfers, with a good summary chart of what is to happen when (http://www.bba.org.uk/consumer-guide-to-cash-isa-transfers). This summary is well known to all banks since it is a BBA document.

If, after comparing your situation with the chart, there are still discrepancies, complain to [EMAIL="complaints@santander.co.uk"]complaints@santander.co.uk[/EMAIL].

SG27

When I transferred from Halifax to Santander the money disappeared from my Halifax account on a Saturday and the account was closed a couple of days later. But the money was no where for about 4 days. When I phoned Santander I was just pretty much fobbed off. But it did appear in Santander the day after I phoned so was about 5 days without my money in either account!

ses6jwg

SG27 wrote: »

When I transferred from Halifax to Santander the money disappeared from my Halifax account on a Saturday and the account was closed a couple of days later. But the money was no where for about 4 days. When I phoned Santander I was just pretty much fobbed off. But it did appear in Santander the day after I phoned so was about 5 days without my money in either account!

Calm down, that's normal.

The cheque was in transit for those 4 days.

Hayleyf605

Hi,

I sent the form over two weeks ago and the money has gone for 3 days.

innovate

Hayleyf605 wrote: »

Hi,

I sent the form over two weeks ago and the money has gone for 3 days.

Nothing at all to worry about then - the money will no doubt appear in the next few days.

innovate

2sides2everystory wrote: »

It's Santander in Mañana land as usual.

Your glass half empty again, as usual?

SG27

ses6jwg wrote: »

Calm down, that's normal.

The cheque was in transit for those 4 days.

I am calm. Why are you telling me to calm down?

The reason I called them was because when I made the transfer in branch I asked how long it would be before I can expect the money in my account and she said 5 working days. So when after three weeks nothing was in my account I called them.