Santander has lost my Cash ISA Money!!!

guitarman001

This has me a little scared now.

I've just opened a 2 year ISA with Santander and have to transfer the £5640 to them, not from an ISA but a current account I have, within 14 days.

Should I be worried!?

badger09

guitarman001 wrote: »

This has me a little scared now.

I've just opened a 2 year ISA with Santander and have to transfer the £5640 to them, not from an ISA but a current account I have, within 14 days.

Should I be worried!?

Not unless you enjoy worrying There are many satisfied Santander customers, myself included. Its just that, as with newspapers - the bad news always gets the headlines Keep an eye on the progress of your ISA (but this applies with any provider) and chase them up if necessary.

richy_7

guitarman001 wrote: »

This has me a little scared now.

I've just opened a 2 year ISA with Santander and have to transfer the £5640 to them, not from an ISA but a current account I have, within 14 days.

Should I be worried!?

I opened the same account......nearly 3 months later and my money is still not in my account. Santander have lost it and will not admit it. I would not transfer your cash if I were you, close the Santander one and go somewhere else.

guitarman001

Sounds like an absolute nightmare - how could they lose your money?
THREE MONTHS!? Did you transfer money from another ISA or is this a new ISA and you're depositing from a current account to Santander (and how, via online banking?)?

To be honest I AM thinking about just leaving it in my Lloyds Vantage accounts... The frequency of bad comments to positive is absolutely striking.

innovate

guitarman001 wrote: »

To be honest I AM thinking about just leaving it in my Lloyds Vantage accounts... The frequency of bad comments to positive is absolutely striking.

Don't be silly! Like badger09 said, there are many more people here who have had no problems with their ISAs and other savings accounts in Santander than those who come one here to mainly just post disaster scenarios. Who do you believe more, those who have less than 10 posts, or those with hundreds and thousands of posts? Do you not think the main MSE site would have huge warnings plastered all over it, instead of listing the Santander savings accounts as the top accounts in many areas, if Santander was a no-go zone?

However, if you feel totally uneasy with putting your money into Santander, then just don't do it. But for sweet Jesus' sake, don't leave your money lingering in an account on which you have to pay tax on the interest! Get yourself an ISA elsewhere, there are plenty that beat the Vantage interest! It just makes zero sense not to exploit the ISA savings - - especially if you think a few years ahead.

richy_7

guitarman001 wrote: »

Sounds like an absolute nightmare - how could they lose your money?
THREE MONTHS!? Did you transfer money from another ISA or is this a new ISA and you're depositing from a current account to Santander (and how, via online banking?)?

To be honest I AM thinking about just leaving it in my Lloyds Vantage accounts... The frequency of bad comments to positive is absolutely striking.

I have no idea how they could lose my money. I have been on the phone to them countless times, raised complaints and written letters. All I ever get as a response is 'We have not received your funds'. I am trying to transfer an ISA from AA Savings, and I have to say the people at the AA have been very helpful, and they are sending Santander and myself proof that the transfer cheque has not only been sent, but cashed in by Santander.

I would not recommend Santander to anyone, they are completely useless. I shall give them another week to respond to my latest letter....next stop mr Ombudsman.

richy_7

innovate wrote: »

Don't be silly! Like badger09 said, there are many more people here who have had no problems with their ISAs and other savings accounts in Santander than those who come one here to mainly just post disaster scenarios. Who do you believe more, those who have less than 10 posts, or those with hundreds and thousands of posts? Do you not think the main MSE site would have huge warnings plastered all over it, instead of listing the Santander savings accounts as the top accounts in many areas, if Santander was a no-go zone?

I had a savings account with Santander before my ISA, and I had no problems with it. Set it up online, managed it online, closed it online. Never had to speak to customer services.

The problem with Santander is when you have to deal with their customer services. Useless.

guitarman001

I get what you're saying, innovate, I really do. I guess I'm a pessimist but the frequency of Santander complaints does dwarf all others - I have 14 days. 4% or not.

guitarman001

Richy, what I don't understand is... THREE MONTHS?? How on Earth can it take that long?

richy_7

guitarman001 wrote: »

Richy, what I don't understand is... THREE MONTHS?? How on Earth can it take that long?

I wish I knew. Santander are taking no responsibility, and it seems that it is up to me to find out where my money is. How the hell do I do that? I sent a transfer form to Santander in April, it is supposed to take 2 weeks. It is now getting on for July and it still hasn't been completed.

I don't have access to Santanders records or AA's records, so I have to play ping pong between the two and they are giving me different accounts of the situation.

Santander have told me that they have sent the AA several chase up letters for my funds, but when I phoned the AA yesterday, they told me they have not received anything from Santander.

Go figure....