Cheshire Building Society Direct ISA

Legacy_user

I'm not happy with the Cheshire at all. Sent an application for an ISA together with a cheque for £5640 on 19th November and the account still hasn't been opened. I rang today to be told my cheque arrived on 28th November and they are within the 15 days they say it can take to open the account.

I have used the Royal Mail for 50+ years and never has a first class item taken that long to reach its destination. A couple of times in all those years it may have been lost in the post but if it arrives it has always been within a couple of days and in most cases the next day. I have an alert service via Capital One and my credit reference was searched on 27th November. According to what they said they must have done that before they received my cheque! Interesting.

What are they playing at? Have I made a mistake investing with them?

System

Just got a text from the Cheshire to say the Direct ISA has been withdrawn but will be honoured in an application has been made and funds are received by 14 December.

pqrdef

I opened a Derbyshire NetSaver, presumably handled by the same people in Dunfermline. It took them ages to present the cheque. But the date on the statement, when it eventually appeared, was the day they got the application, which was the day after I posted it. You should find that you've been clocking up the interest since Nov 20th.

System

I rang the Cheshire yesterday and was told they are paying interest from the date the cheque was marked as received - which in my case was 27th November. They said they had to stop offering the direct ISA because they had been inundated with applications and couldn't cope, lol.

How easy would it be for a financial organistaion to sweep the board with savers' investments! Why won't any of them do this? All they need to do is offer a quarter of a percent more than the next best interest-paying account . . .

innovate

scgf wrote: »

How easy would it be for a financial organistaion to sweep the board with savers' investments!

Not anywhere near half as easy as taking free money from the BoE/Treasury.

flexrider

scgf wrote: »

I'm not happy with the Cheshire at all. Sent an application for an ISA together with a cheque for £5640 on 19th November and the account still hasn't been opened. I rang today to be told my cheque arrived on 28th November and they are within the 15 days they say it can take to open the account.

I have used the Royal Mail for 50+ years and never has a first class item taken that long to reach its destination. A couple of times in all those years it may have been lost in the post but if it arrives it has always been within a couple of days and in most cases the next day. I have an alert service via Capital One and my credit reference was searched on 27th November. According to what they said they must have done that before they received my cheque! Interesting.

What are they playing at? Have I made a mistake investing with them?

excuse me for saying but You need to calm down cheshire building society are now owned by Nationwide so you are safe and i bank with them have done now for 15 years for ISA and old bank accounts which i have,

One of my best accounts which gets brillant interests compared to lloyds and santender and some other banks i tried in the past

Generally being december means xmas post so good old royal mail sucks at deliverly and yes i cannot understand the credit search but they would check your credit file being owned by nationwide bank and building society.

Just wanted to say your in good hands there a good building society

System

Don't think I need to calm down at all, lol! I am just not happy that I sent a cheque for what is for me a very large amount of money and nearly one month later the account still hasn't been opened. I suppose I'm used to faster payments and online servicing of accounts where an application is given immediate approval (or not) and debit cards/account details are received within days. I have never, ever had to wait for so long for an account to be opened since I started using banks in 1975!

flexrider

scgf wrote: »

Don't think I need to calm down at all, lol! I am just not happy that I sent a cheque for what is for me a very large amount of money and nearly one month later the account still hasn't been opened. I suppose I'm used to faster payments and online servicing of accounts where an application is given immediate approval (or not) and debit cards/account details are received within days. I have never, ever had to wait for so long for an account to be opened since I started using banks in 1975!

i know i understand there still problems with Cheshire i love using them and my point was they are integrating to nationwide systems plus with xmasd being a mad time imagine poor old postie strugging at 2 in the morning processing amazon,Christmas cards and letters all over the country and what not,

I was in the cheshire today and overheard how they are relying on nationwide accounts to bring in faster payments form the old system but there still a building society not yet a bank and building society accounts take longer to process apparent so they do a lot of checks

When i desposit into my isa i set it up on a Monday from lloyds Tsb every month after working out profit from business accounts and what needs to be paid ect, anyway it with me it goes in by friday or Saturday morning

Id say next time you want to pay money money in get your sort code and a/c number and do it internet banking instead of checks which need to be verifeid, set a standard order up and that way you can check its paid by your bank, How i do it and sorry for all your trouble you having

St_Ivo

Having suffered the same delay as scgf I have now had a letter from the Cheshire BS returning my application and cheque as the product has now been withdrawn. This despite an earlier email saying they will honour the application.

Has anyone else had this?

Happy Christmas all.

System

I got an email and text to say my ISA account had been opened and that I would get confirmation in the next few days. I sent the cheque off on 19th November, or thereabouts.