Santander transfer

Hayleyf605

innovate wrote: »

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

Thank you

innovate

• It's outrageous that anyone at Santander suggests that a customer should check where their ISA transfer is.
• There's no need to panic if the ISA amount has been removed from the sending bank but not been credited at the receiving bank within 3-4 working days.
• Hayleyf605's case provides no reason, other than general Santander bashing, to suggest that "Santander are in Mañana land, as usual"

rb10

2sides2everystory wrote: »

It's not general, it's specific criticism - it's yet another example of Santander causing unnecessary uncertainty through their flakey ways.

It's not Santander's flakey ways, it's just the way the ISA transfer system works at the moment.

DragonQ

I have no idea why it has to be done by cheque still, tis rather ridiculous. However, Santander say it takes up to 15 days for the money to appear in your ISA account from the day they receive the ISA transfer form.

I wouldn't start to worry until this time period has passed.

SavingSteve

rb10 wrote: »

It's not Santander's flakey ways, it's just the way the ISA transfer system works at the moment.

I think my last 15 posts on this forum have been in a similar vein. The whole banking system is convoluted, yet people decide it must be all Santander's fault.

badger09

2sides2everystory wrote: »

Yep agreed you got that right.
You got that obviously wrong. You might not panic if nearly six grand disappears for a while, but most people would be wobbled by it unless they had very specific insider knowledge of a type not generally within the purview of mere banking customers.
It's not general, it's specific criticism - it's yet another example of Santander causing unnecessary uncertainty through their flakey ways.

What fine line are you trying to tread and why, innovate?

When I transferred £50000 ISA funds from Nationwide to NatWest it left Nationwide on 16th Feb and didn't appear in NatWest until 24th Feb. I didn't 'wobble'

On 12 March I posted my application to transfer £12500 from Nationwide to Santander. Nationwide showed 'counter cheque withdrawal 15 March' and Santander showed 'cheque paid in banking centre 19 March'. Again, no need to 'wobble' and very efficient service from Santander, despite the apparently antiquated method of using cheques to transfer ISAs :T

Like innovate, I suspect, I'm not trying to tread any line, just relating my experience. After all, there are at least 2sides2everystory :rotfl:

Hayleyf605

it's all about communication. Being told by two companies that neither knows where your money is then having the bank you want to transfer to tell you it's nothing to do with them is naturally worrying. If they said the money wouldn't show for a week then I wouldn't panic but at the moment their line is that they don't know/care where the money is and that I need to go to Natwest to get them to refund me.

Thank you for all the comments and help

badger09

Hayleyf605 wrote: »

it's all about communication. Being told by two companies that neither knows where your money is then having the bank you want to transfer to tell you it's nothing to do with them is naturally worrying. If they said the money wouldn't show for a week then I wouldn't panic but at the moment their line is that they don't know/care where the money is and that I need to go to Natwest to get them to refund me.

Thank you for all the comments and help

Hayley

I hope you don't think my post above was aimed at you. It certainly was not, and your questions are perfectly valid - some posters' reactions are not

It is totally unacceptable that both Santander and NatWest are effectively denying responsibility. As innovate says, it is Santander's responsibility. Unfortunately not all employees are sufficiently well trained and some will try to fob you off with lame excuses. This doesn't just apply to NatWest & Santander though

You said yesterday that the money 'has gone for 3 days' suggesting it left NatWest on Thursday or Friday. I know its disconcerting when your money seems to be floating around in the ether somewhere, but honestly don't think there's any need to worry yet. If it hasn't appeared by the end of the week, innovate's posts 5 and 15 contain useful advice.

Fingers crossed and let us know what happens

Hayleyf605

thank you if only the banks could be so reassuring as posters here!

badger09

Hayleyf605 wrote: »

thank you if only the banks could be so reassuring as posters here!

No problem.

Take what some of the doom & gloom merchants say, with a big pinch of salt . I don't wear rose tinted specs by the way