Abbey National Postal Mini Cash ISA

lipidicman

I was to scared to risk the Abbey route, I have dealt with them before!

MiserlyMartin

I just spoke to Abbey on the phone. (Scottish call centre) The woman told me that currently, the rate is 5.35% for the issue 1 ISA. But she was unable to tell me how long it will be staying at 5.35%, because "its a variable rate"
I did my fair share of whinging about not being able to track the rate online. I said its almost as if the issue 1 ISA does not exist anymore. Also said that if the rate is cut then I will just transfer my ISA back out and so will the rest of their new customers

Aark

Copy of e-mail received from Abbey today:

Thank you for your enquiry regarding the Postal Isa interest rates.

We can confirm that the Postal Isa Issue 1 rate is currently 5.35%.
This rate applies to all Postal Isas opened before 1st May 2005. From
1st May 2005 the Postal Isa Issue 1 has been removed from sale, this has
been replaced by Postal Isa Issue 2, with a current interest rate 4.90%.

Existing Postal ISA (PISA1) account holders making additional deposits
whether via new money, internal account transfers, Abbey to Abbey
transfers or external Transfer In's will have this money deposited into
their existing PISA account and in turn receive the 5.35% rate.

Please note that the above mentioned rates are not guaranteed.

t_i_g_e_rr

I sent an email through their website to ask where my application had got to. They said they hadn't received it, but I could pay into my current Portal ISA if I wanted (???) I don't have a Postal ISA; that is why I'm applying for one! Today they sent through some application forms (in case I wanted to open a separate ISA), but they sent them to my brother (who does indeed have a Postal ISA). So there you go, they have confused me with my brother. I dunno . I've sent them an email trying to explain this. Hopefully MY application will still be OK.

Anyway, some useful information did come from this. As they assumed that my application had been lost in the post they kindly agreed to backdate my application (using the forms they sent me) to the 5.35% account. So it seems that although they are often incapable (according to other posts on here), they are friendly and reasonable. I hope it all goes well.

dollybird

It seems my application has gone missing as well. I have rung them on several occasions and they tell me they will get back to me but they never do. My husband applied at the same time and he has received his receipt but no welcome pack,even though they say they have sent him one.There seems to be a lot of mail going missing I don't know what to do next.

Dave2012_2

I called them on May 11th and they claim never to have seen my application, I called again 3 days later to double-check and they said it must be lost in the post - great, two of my bank statements with all of my details on have gone missing! I realise this is probably Royal Mail's fault but that doesn't excuse the bad service everybody else has been getting! I've decided not to apply for bank accounts by post again and opened a Halifax Direct ISA instead, it took 20 minutes at the bank and they said my money would be transferred in 2-3 weeks with confirmation coming through the post. Sorted, and only 0.2% less interest than the old Abbey ISA (peanuts).

dollybird

I am going to ring them once more and if they still haven't received my application I will cancel the cheque and go elsewhere. I am also worried about my bank statements. I will not be applying for any more postal isa's.

brm_2

Aark wrote:

Copy of e-mail received from Abbey today:

Thank you for your enquiry regarding the Postal Isa interest rates.

We can confirm that the Postal Isa Issue 1 rate is currently 5.35%.
This rate applies to all Postal Isas opened before 1st May 2005. From
1st May 2005 the Postal Isa Issue 1 has been removed from sale, this has
been replaced by Postal Isa Issue 2, with a current interest rate 4.90%.

Existing Postal ISA (PISA1) account holders making additional deposits
whether via new money, internal account transfers, Abbey to Abbey
transfers or external Transfer In's will have this money deposited into
their existing PISA account and in turn receive the 5.35% rate.

Please note that the above mentioned rates are not guaranteed.

Your email reply from Abbey is very interesting as I spoke to the ISA dept on 10 May when the call operator voiced the same relpy and said they were unable to send a mail to me from their dept. confirming this detail. I would have to take her word for this!!
I have asked Abbey to send this detail of rates to me in writing as nowhere on their web site or current customer leaflets is this clear.

See my post in the Abbey ISA rant!

lipidicman

Dave2012 wrote:

...opened a Halifax Direct ISA instead, it took 20 minutes at the bank ....Sorted, and only 0.2% less interest than the old Abbey ISA (peanuts).

This was my decision - too paranoid for postal ISAs. Plus you can operate the Halifax one on their website - bonus

t_i_g_e_rr

I just spoke to Abbey. They are processing today (20/05/05) applications received on the 28/04/05. Big, big, delay! They did assure me that they would backdate my payment (that means I get interest at my old bank for a whole month, and then interest at abbey on all the money transferred for a whole month ), and they assured me that I would get the old interest rate (5.35%). Hopefully this info will help someone. Will keep you posted.