Santander... a diary (not a complaint!)

ragstobasics

Santander offer some great rates, much better than I have been getting with Barclays of which I have the following products:

eSavings Reward - 1.26% AER (if you don't take money out)
Golden ISA Issue 2 - 2.08% AER
Golden ISA Issue 3 - 2.22 AER
Loyalty Reward ISA - 3.05% AER

Since becoming a saver, due to lack of knowledge and a healthy dose of laziness, I wasn't aware of how much interest I was losing out on with Barclays. This site has been very informative and has changed the way I look at savings forever - importantly, it's shown me how a little effort can go a long way.

Anyhow, I am all for giving a business a chance and Santander's rates are unbeatable for the type of products I am looking for: the savings account and ISA. That said, there has been numerous complaints and problems recorded on this board against Santander, and I am a believer that us Brits are more likely to moan publicly than to pat a business on the back.

Right now I am in the process of moving the savings account and ISAs all over to Santander and I wanted to diarise the process, so you could see what happens from a typical and unbiased customer's point of view.

I'm starting with the savings account before moving the ISA, - here's how it's gone so far:

1. 14/06/12: Applied for eSaver online
2. 15/06/12: Received account details via email
3. 16/06/12: Transferred savings using online banking
4. 21/06/12: Received first postal letter containing telephone and internet banking details

At this stage I still can't check to see if the money has arrived in the eSaver online or by phone as I still need more credentials to arrive before logging in, which is a little nerving as I have't ever done anything like this before. Hope I get those soon, so I can get the ISA transfer forms off.

Hopefully you guys and gals find this useful - I'll keep it updated a the process goes along. If you dont like it, tell me to go away!

All the updates consolidated here:

22/06/12: Received part 2 of the internet banking and telephone banking codes via post - all savings are accounted for and available in the eSaver. Phew!

23/06/12: 1 year fixed rate Santander ISA opened online. Next up, wait for the account details to arrive, complete the forms and hand them into the branch.

26/06/12: Account details arrived for the 1 year fixed ISA via email today. Now completing a transfer form for each of the individual accounts and I have to say that it's a little on the confusing side. I know it's meant to be an official document, but some guidance and/or better explanations wouldn't go a miss.

28/06/12: Went to the branch to hand in my ISA transfer forms for them to send away as suggested, and to ask for signed copies as proof incase it all goes badly. Unfortunately, I was told that if they post it, they couldn't guarantee that it would get processed, and that the only way the branch could help is if I booked some time in with an advisor and completed the forms with them.

I got the feeling this isn't something they have done before and/or she couldn't be bothered to help out - not a great way to start the new customer experience.

So, instead, I posted the forms myself with a cover letter that explained clearly that there were 3 forms that needed processing.

05/07/2012: 3 separate letters arrived in the post today confirming that my current ISA provider has been notified. Good news, and hooray for writing a cover letter.


12/07/2012: All ISAs have now been transferred: They arrived on the 6th, 9th and 10th of this month.

innovate

interesting approach, good luck & fingers xed it will all go smoothly.

In case you haven't seen it - - there have been some reports that Santander (and others) don't seem to be able to cope very well with the transfer of multiple ISAs.

My suggestion would be that you handcarry the transfer forms into a Santander Branch, and get them to give you receipted (dated, stamped & signed) copies of your transfer forms. That way you have an indisputable record that they have the forms (the Branch will pass them on to the ISA team that actually deals with the transfers) - just in case you will have any reason for a complaint at a later stage.

Personally, I would always do (and did do) the same for a single ISA transfer, too.

ragstobasics

Thank you for the heads up. I had planned to do a postal application, but this has made me think twice - the branch it is. The forms will go in as soon as I can verify the savings are safe and sound.

ses6jwg

I'd second a reccomendation on doing the ISA in branch.

ragstobasics

22/06/12: Received part 2 of the internet banking and telephone banking codes via post - all savings are accounted for and available in the eSaver. Phew!

It was a bit of a faff to get internet banking up and running: you need to change the passcode and registration number that you received in two separate letters over two days. Then, once changed, you must select a picture, write a phrase and select 3 questions and answers. That's a lot to remember, but hey - security comes at a price.

I also received another letter with my account details that said they couldn't email me the details, but they arrived just fine to my inbox the day I opened the account.

So far, so good.

I'll be heading into transferring 3 ISAs early next week - wish me luck!

ragstobasics

23/06/12: 1 year fixed rate Santander ISA opened online. Next up, complete the forms and hand them into the branch.

Attempting to download the forms and unfortunately the preview app and chrome can't open the PDF, so I have to download Adobe Reader. Mildly irritating.

guitarman001

I applied for the ISA a couple days before you but still haven't received online login details through the post.

innovate

ragstobasics wrote: »

Attempting to download the forms and unfortunately the preview app and chrome can't open the PDF, so I have to download Adobe Reader. Mildly irritating.

You will be hard pressed to find any bank whose web presence will function 100% with Chrome (or Safari, or some other non-mainstream browsers). I have never been an IE fan but for banking, it's the only reliable browser. Adobe Acrobat reader is also pretty much standard for any downloaded document, from any site, not just banks. If you want to read your Santander online statements, btw, you will need Adobe Acrobat, too. It takes less than 60 seconds to install. 60 seconds well invested :-)

ragstobasics

26/06/12 - Account details arrived for the 1 year fixed ISA via email toady.

Now completing a transfer form for each of the individual accounts and I have to say that it's a little on the confusing side. I know it's meant to be an official document, but some guidance and/or better explanations wouldn't go a miss.

guitarman001

Got to agree. I finally opened my ISA and transferred the cash but had to phone them in order to get the passwords right - can't put two of the same letter or number next to each other, nor consecutive numbers (or something like that, anyway!).

ragstobasics

28/06/12: Went to the branch to hand in my ISA transfer forms for them to send away as suggested, and to ask for signed copies as proof incase it all goes badly. Unfortunately, I was told that if they post it, they couldn't guarantee that it would get processed, and that the only way the branch could help is if I booked some time in with an advisor and completed the forms with them.

I got the feeling this isn't something they have done before and/or she couldn't be bothered to help out - not a great way to start the new customer experience.

So, instead, I posted the forms myself with a cover letter that explained clearly that there were 3 forms that needed processing.