Anybody transferring out of A&L direct ISA

carpy

Counter55 wrote: »

A&L changed their practice of not acting on written requests for transfers on 1st May - although when I phoned a week later and explained I had to phone to do the transfers the CS person didn't say the systems had changed. I was only told of the change (by two different CS people) later in the month. At the end of May their Direct ISA guide on their website still showed that for a transfer to take place a customer had to phone them.

I get the impression that they are snowed under and errors are happening.

So far in a month they have ignored all but one of the transfer requests made by phone but used a written request (sent by a bank where I am opening another account) to transfer the wrong amount.

When I phoned to find out what was going on I was told that errors were taking 1 to 2 weeks to fix as the department was busy.

My view is that the FSA or whoever gives them a licence should clamp down on management who under resource departments and continue to market their new Direct ISA while a mess is made of the accounts of existing customers.

If you have an A&L ISA account and hope to do a transaction - log on to check your account - especially if you are trying to do partial transfers.

i agree with all that.

has anyone else been waiting as long as (or longer!!!) than my 30/4/07 request???

when i phone they just say it's showing on their computer and just waiting to be processed. at the time they said it would be 2 weeks, then up to 28 days and now up to 30 'working' days......they keep moving the goalposts!!!

i'm not happy......i think they've messed up.....so now i've sent of a form and explained my feelings to them......

watch this space......

jem16

carpy wrote: »

i agree with all that.

has anyone else been waiting as long as (or longer!!!) than my 30/4/07 request???

Yes I'm waiting since 10/4/07 although it's a transfer from Halifax.

It took Abbey almost 4 weeks to open the account. I received a letter confirming transfer on 12th May. Halifax have confirmed that they have a transfer request but can't confirm the date when it will happen.

dave_dph

Well according to my A&L statement the cash left my account on the 24th May. I received confirmation from Abbey yesterday that they had received the same amount, they creditted it to my Abbey Direct ISA also on the 24th.

Can't be bad!

Counter55

dave_dph wrote: »

Well according to my A&L statement the cash left my account on the 24th May. I received confirmation from Abbey yesterday that they had received the same amount, they creditted it to my Abbey Direct ISA also on the 24th.

Can't be bad!

Well, it can be bad if, as in my case it took them 3 weeks to then do the wrong transfer and close the account when they were not instructed to do so. Then to say it will take 1-2 weeks to fix the problem because the department is having to cope with the administration of several different ISAs running at the same time.They should be forced to stop marketing their current new ISA until they sort out current problems and catch up with the backlog. It's not like they couldn't have foreseen that a large number of customers would transfer out given the loss of the extra interest at the end of April. This is bad management.

I accept there may not be much lost interest at the end of all this but at the moment I have a large amount of my money bouncing around the banking system. I don't know where it is and I'm not sure A&L know either.

moneyandmountains

Well, either A&L are scared of me, or they have decided to change their tactics.

As mentioned earlier I phoned A&L up to transfer to Abbey on the 30th May.
Today, (5th June) I received a letter dated 1st June saying that they are pleased to confirm that they have no forwarded the funds and the transfer documents to my new ISA manager.

masonic

They've probably just finally cleared the huge backlog of people rushing to transfer out at the end of April.

TCA

moneyandmountains wrote: »

Well, either A&L are scared of me, or they have decided to change their tactics.

As mentioned earlier I phoned A&L up to transfer to Abbey on the 30th May.
Today, (5th June) I received a letter dated 1st June saying that they are pleased to confirm that they have now forwarded the funds and the transfer documents to my new ISA manager.

You're not out the woods yet M&M. I also received such a letter from A&L saying they had forwarded the funds and the transfer documents to my new ISA manager Bradford & Bingley. Lo and behold several days later I get a letter from Northern Rock saying they have received my documentation and cheque from Alliance and Leicester and can I please complete the enclosed ISA application form. Nightmare. I wonder how long this will take to sort.

:mad:

purplestar133

TCA wrote: »

You're not out the woods yet M&M. I also received such a letter from A&L saying they had forwarded the funds and the transfer documents to my new ISA manager Bradford & Bingley. Lo and behold several days later I get a letter from Northern Rock saying they have received my documentation and cheque from Alliance and Leicester and can I please complete the enclosed ISA application form. Nightmare. I wonder how long this will take to sort.

:mad:

That's ridiculous! You've got my sympathy...A&L are just useless...they knew they were going to see a rush of people transferring out at the end of the bonus period, just like barclays knew there were going to be lots of people wanting to open one of their high rate isas, yet when it happens they're ill equipped to deal with it.

TomsMom

I wanted to transfer old ISA money from A & L to Abbey. Form filled in at Abbey branch and all details given to Abbey on 22nd May, account opened with zero balance, they dealt with A & L and I have today received a letter from A & L dated 4th June to say that the funds and transfer documents have been forwarded to Abbey. Checked with A & L online banking and my A & L ISA now states "unavailable". Quite impressed considering there has been a Bank Holiday in the meantime!

Can't check online with Abbey as I'm not registered with them for online banking but will phone on Monday to see if they've received the money.