Santander transfer

innovate

2sides2everystory, may be you should apply for a job with a bank / the BBA / the FSA, to sort out the deficiencies and bring the banks finally into 2012.

badger09

2sides2everystory wrote: »

That's not the way to manage a bunk up in a brothel, a railway with trains, passengers, signals and tunnels, or a drink up in a brewery, so why on earth should it be any way to run any bank in 2012??

Banking is about exact handling of money if it is about nothing else. What is exacting about advice not to wobble or worry and talk of money being in the ether? Do you or did you work for a bank? In 2012, no one should be left in any uncertainty about the exact account location of their funds from one banking second to the next.

Any other suggestion is amateurish wholly outdated dangerous drivel and gives bankers opportunity to hide and be slapdash. Now is not the time. Everything they do should be in plain sight.

I have no intention of becoming involved in a personal slanging match with you - or anyone else.

If a poster asks for help and I can answer their question, I will do so. If I think I can make a useful contribution based on personal experience I will do so. Is that not your approach?

FYI I do not, nor have I ever worked for a bank. I have no particular allegiance to any bank or building society. However, I see no merit in using this forum to have a general rant at the inadequacies, real or imagined, of the UK retail banking system

innovate

Hayleyf605, has your money turned up now?

I handed my transfer into a Branch on April 7. Money vanished from my old account on April 19, and was credited into Santander today - 3 working days after the sending bank (Lloyds) had issued the cheque.

They told me the credit will be backdated over the next few days to April 19. This will involve them removing, then re-crediting the money again. From an interest point of view, the transfer will have been completed within 8 working days, which I am quite happy with, given that they have up to 15 days.

Hope your money has also arrived by now.

Hayleyf605

My money has finally arrived. Thank you everybody

badger09

Hayleyf605 wrote: »

My money has finally arrived. Thank you everybody

Good news.

Thanks for updating us.

badger09

2sides2everystory wrote: »

Phew that was quite a wait !

I've got one now from Nationwide (an uncertain wait I mean) - although hopefully it'll only be an overnight one. I filled in a form in branch for Flexclusive ISA the other day in branch and the kind lady behind the counter said she'd open the account for me as soon as she had double-checked the "Prime" marker on my account that shows them I qualify as a Flexaccount customer who just changed his main account to NW. That was Friday and she suggested that Monday would be the day. My ISA money has been sat doing nothing since then in my Flexaccount. I just checked via internet banking and the money has gone out today sometime as a "Branch or Cash Machine Withdrawal" but doesn't say where to and no new ISA account shows online ... :eek:

I guess I just have to take badger09's soothing advice and assume it'll be alright on the night Which night ? Well like you Hayley, I suppose I'll just have to grin and bear it and report back eventually

A bit more 'soothing' news for you

I started switching process online 5th April to qualify for the Flexclusive ISA. Couldn't get to a branch before 16th April Opened Flexclusive ISA in branch 16th and later that evening my Flexaccount showed the withdrawal as 'Internal Transfer'. Flexclusive ISA appeared online 18th April:)

I've received 2 letters dated 16th April - one showing account number and T&C, and the other showing ISA declaration.

Still waiting for my Passbook though :rotfl:

innovate

Hayleyf605 wrote: »

My money has finally arrived. Thank you everybody

Keep an eye on it for a bit yet, Hayley - - the "credit" date at Santander should be showing as the same date it left Natwest. I am told it might take Santander a week or so after initial deposit to make that change - not really an issue for an ISA since you'd leave your money untouched there for a while, anyway. Just a bit of a PITA you have to keep checking they did their job. But you want to be sure they really credit your money on the right day - - - - pennies only for you and I and every other individual saver but big money for a bank if they kept our monies - - so we want to just be sure we get our dues!

I have seen other posts regarding debits and re-credits (with earlier date) at Santander, so their promises seem to be working - - but everyone has to check their account and confirm for themselves.

Mine's yet to have the date correction - - I am positive it will eventually, cos it's the industry standard they advertise on their site, and cos I am watching my account ;-)

badger09

2sides2everystory wrote: »

Hope this isn't skewing your Santander thread too far Hayley, but just as badger09 predicted my Nationwide wait was resolved this morning when my new Flexclusive ISA appeared online containing the cash that disappeared from my current account on Wednesday. The transaction description says:

25 Apr 2012 Cash credit Credit 20 April 2012.

20 April 2012 was last Friday of course - the day I submitted the application at the branch and the day I Fast Paymented the cash into Nationwide from another bank (not Santander of course because they are not very predictable with their FPs ).

Incidentally, for any interested new Cash ISA candidates, 19 April was the date I applied online to convert my little used Nationwide Flexaccount into my "main account" in order to qualify for Flexclusive ISA at 4.25%, so (actual date correction permitting) I guess I can't complain too much about the Nationwide "wait".

Oh, I do so love to proved right

Pity it doesn't happen more often :rotfl:

innovate

2sides2everystory wrote: »

Hope this isn't skewing your Santander thread too far Hayley.................

What's a Nationwide ISA that doesn't allow any transfers in got to do with Hayley's question about transferring an ISA to Santander?

Of course setting up an ISA with new money can be done much faster than a transfer (or the new Nationwide one you are referring to) - - the really smart new ISAs can be opened online and then deposited into immediately. So it's not a matter of days but a matter of minutes.

But this is all by-the-by, because this thread is about transferring ISAs, not about depositing new money into a new ISA.

aisle_cruiser

I arranged to transfer a previous year's ISA from Halifax, and split it into a fixed interest and instant access ISA with Santander. The accounts were set up, the money was transferred, Halifax closed my account. Then I noticed Santander had put the wrong amounts in the wrong accounts. I pointed this out and was assured they'd correct the mistake. That was nearly a month ago. On one day they took the money out, put it back in, took it out again, then presumably returned one of the cheques to Halifax who stamped it 'payment stopped', and Santander returned it to me. Since then they've been unable to put things right. Then a couple of days ago they said they couldn't put the money into two ISA's (first time they'd mentioned this!) because it 'was against HMRC rules'. WRONG! This was OLD ISA money. I have now had to go into a Halifax branch and they are going to try and find where the money is, because Santander have washed their hands of it. Still waiting for a response from them as to whether I can or can't put the money in one of the ISA's. WHEN we find it! P**s up! Brewery?