Nat West Dirty Tricks

opinions4u

CCStar wrote: »

Nat West are useless

We transferred our isas from the Halifax - mine hasn't transferred after 2 months.

Is the blame solely with Nat West? There are two parties involved here.

JuicyJesus

Hold on.

From what I can tell the OP has not done an ISA transfer, they have just done a Faster Payment from an account with Santander to top up the ISA.

ISAs, if you don't make a deposit in them for an entire tax year, become "non-continuous". This means that you have to essentially reapply for the ISA to add anything more to it in the tax year after. Google turns up a thread about it here: https://forums.moneysavingexpert.com/discussion/71354

Once again, no "dirty tricks" or "bank scams". It's just the way things work.

Johnyboy1

Okay Juicy

I guess maybe you did not read or understand my original post. As for the transfer I was under the impression that if you move an amount of money from one provider to another that clarifies as a transfer? Regarding funding the Isa, each year I have done this when my Isa came to the end of its bonus period, and then transferred the whole amount to NatWest subsequently funding it for another year.
Regarding the current situation I can now confirm NatWest have re-invested the money back into both my partners Isa and mine, although the date mine was deposited is about a month after the money was first received so I still have an issue with them. I’ll look forward to receiving their explanation regarding this.

JuicyJesus

Johnyboy1 wrote: »

Okay Juicy

I guess maybe you did not read or understand my original post. As for the transfer I was under the impression that if you move an amount of money from one provider to another that clarifies as a transfer?

It depends. It was either an ISA transfer, where you filled in some forms and asked one bank to transfer your ISA holdings to NatWest, or just a regular Faster Payment/bank transfer/bill payment where you gave your ISA's sort code and account number to Santander and told them to transfer the money. They are different and mean different things - the latter is functionally no different to you paying in cash.

Regarding funding the Isa, each year I have done this when my Isa came to the end of its bonus period, and then transferred the whole amount to NatWest subsequently funding it for another year.

Each tax year (i.e. 5th April to 5th April)? If not then the non-continuous provisions kick in.

Johnyboy1

I would like to update all who bothered to read and reply to my query re Nat West.

Good news!!!
I've just received two lots of £265.00 for their error. Thank you Nat West but I'm still moving my money.:T:wave::wave:

Johnyboy1

innovate

That sounds a fair result for you, well done!

When you say "I'm moving my money", I trust you mean you will ask your new ISA provider to transfer it for you? If you move the money yourself, you will lose the ISA-wrapper.