NATWEST ISA transfer delay

foreversummer

Still no money has been transferred to me. I wrote a letter on Monday to the customer care team pointing out that they had not responded to my complaint dated 25th May and asking them to contact me by return. Still nothing. So my money has disappeared, Natwest not responding to my letters, ignoring my complaint - what next? Do I have to wait 8 weeks before I can contact the FOS? Now with all the problems at Natwest at present makes me think that this ain't going to get sorted anytime soon. Not sure what to do now. Damn sure wish I'd never heard of the Natwest ISA. Would have probably been better taking the Santander one. It couldn't have been much worse.

bigfreddiel

well seeing as natwests systems are totally knacked right now you may stand a chance of some compo

goodluck

foreversummer

A new twist to my ISA transfer nightmare and I don't know what to do now. I have phoned Natwest again this afternoon who say that the second cheque did not arrive and therefore Barclays put a stop on that and re-issued another, now the 3rd ISA has not appeared. They are suggesting that I contact Barclays. How are Barclays going to help me - my old ISA is closed and they are surely going to blame Natwest. I'm caught between two bloody useless banks! Any suggestions?

Foreversummer

lisyloo

Has anyone else not hac their initial interest correct?
e.g. not backdated properly or not the right rate initially (I think I have both).
I have a complaint opened that I opened 1st June.

Please feel free to direct me to another thread if I missed it.

TIA

lisyloo

Any suggestions?

Have you phoned the FOS?
I would be doing that.
Have you made a formal complaint to Nat West.
If not do so ASAP.
I always do this straightaway to start the clock ticking.

foreversummer

Thanks lisyloo

I did phone the Ombudsman and although they said they could not look at my case until 8 weeks had elapsed they did give me a reference number.

I made a formal complaint to Natwest on 24th May. Other than the initial confirmation of receipt I have heard nothing from them. I followed it up with a written letter two weeks ago asking for the courtesy of a response and they have still not replied.

When I rang this afternoon they told me that I should contact Barclays direct to see why they are not sending my funds. I don't see what this will achieve. They will just tell me that my account has been closed and will blame Natwest.

Foreversummer

lisyloo

I think some of us may end up going the FOS in 8 weeks as Nat West may be unable to cope.
However don't Barclays have a role here?
There isn't much doubt in my mind that Nat West have mislaid your cheque as they are clearly incompetant, but surely it's not adequate for Barclays to lose your money.
What if the Royal Mail van crashed and was on fire?
Barclays cannot just send thousands of pounds throught the post completely untraceable and uninsured, that is just not on.
Whilst I expect NatWest are at fault, Barclays cannot just refuse to do anything about an untraceable, uninsured and uncashed cheque.
I suggest you also raise a formal complaint with Barclays also.

foreversummer

lisyloo wrote: »

I suggest you also raise a formal complaint with Barclays also.

That's an idea. What I dread is the endless telephone conversations with call centre staff. I really do not want to go down that route. But a formal complaint in writing is a good idea and one I hadn't thought of. I will do that tomorrow. Thank you.

I will keep this thread updated with my progress and wish you luck with yours.

Foreversummer

lisyloo

Just wanted to update.
Our interest (both mine and my husbands) arrived 29th June after we both complained on 1st June about it not being backdated.
It was almost exactly what I calculated (I didn't exactly compound so tiny differences are ignored).

Pleased to have got it sorted, although we are prepared to change banks after 25 years if we have too many more issues.

foreversummer

I have lodged a formal complaint with Barclays. I need to make sure that when my money does eventually turn up I get the interest I am expecting. Natwest did that strange thing where you get extra interest only from the 15th of the month after the money was deposited. As I completed my transfer at the very beginning of April it is reasonable to expect that I would get the extra interest from 15th May. We will see.

Foreversummer