Santander ISA Incorrect Date

ReBreatherSteve

YorkshireBoy - Yes that is correct 2013/14 has £2,140 showing and £3,620 remaining.

Mulronie - Please read my first posting again as it states she did a transfer at 9:15pm and it showed the correct date.

buckster

I think you will need to phone them up again and have them look into it further as your contributions for this year have decreased due to this payment being allocated to this current years Isa limit but good luck with that one. I'm with Santander and they have been great until you need to speak to someone.

dzug1

Well obviously Santander have a cut off between 2115 and 2145 - or did on that particular day. I 'know' from observations of my own account online that there is an evening cut off time though I've never been worried enough to work out the exact time - if indeed it's consistent.

YorkshireBoy

dzug1 wrote: »

Well obviously Santander have a cut off between 2115 and 2145 - or did on that particular day.

The people exploiting these cut-off times report that, in general, the time is 20:15 at Santander. However, as you speculate, they accept that this time can 'shift' and is not guaranteed...




EDIT: OP, be sure to take a look quickly, because I'll be deleting the link shortly. Please....nobody quote my post!

ReBreatherSteve

To be honest Santander have phoned back when they said they would be I have not got this issue resolved and Santander are still looking into it.

What annoys me is that the operator assured me it would be in last years tax period and not this years and when I challenged the date he assured me not to worry about it - that's when I raised the formal complaint.

No wonder banks get a bad name especially when the staff don't know what's what!

annie12

ReBreatherSteve wrote: »

Hi, first posting so please no flaming!!!

Last Friday (5th April) at about 8:15pm my wife electronically transferred £2,000 from her Llyods account into her Santander ISA account, when she checked online it showed the money in her ISA account with the date as 5th April.

At about 9:15pm she transferred £1,000 from her Halifax account into her Santander ISA account, again when she checked online it stated the date as 5th April.

All good.

At approximately 9:45pm on 5th April I use the Santander telephone banking service to transfer £2,140 from my Santander account into my wifes Santander ISA account, the telephone operator confirms the transfer but when my wife checks whilst the operator is still on the phone the transfer date in my wifes Santander ISA account shows 6th April even though the transfer took place on the 5th April.

When I challenge the Santander operator he assures me even though the date is incorrect it will still be applicable for last years ISA tax period.

When I raised a complaint the senior operator she said it had gone into this years ISA tax period and not last years. I obviously asked why the date was wrong and she is still looking into it.


Has anyone else had this problem?
What can I do to ensure it goes into last years ISA tax period?

Martin Lewis did state on his TV program last Friday night that we have until midnight on the 5th April to top up our ISA's.

Any help or advice would be appreciated.


Many thanks
Steve

I would complain, if you have been assured over the phone.
I had an absolute nightmare opening up a major ISA last year for my mum and it was a similar scenario. I complained and she ended up with compensation and lost interest of £365, but I have to say I went through about 4 weeks of hell trying to sort it out for her.

I explained everything by email so they had all the details laid out.

Good luck!

ReBreatherSteve

annie12 wrote: »

I would complain, if you have been assured over the phone.
I had an absolute nightmare opening up a major ISA last year for my mum and it was a similar scenario. I complained and she ended up with compensation and lost interest of £365, but I have to say I went through about 4 weeks of hell trying to sort it out for her.

I explained everything by email so they had all the details laid out.

Good luck!

If Santander resolve the issue and move the money into last years ISA tax period then I'll drop my complaint, however I'm expecting Santander to be stubborn and refuse to acknowledge their mistake. This will leave me with one option and that's to switch banks.

In my opinion banks don't care about customers only share holders and bonuses. A family member works for one of the leading banks and some of the horror stories they have told me makes me wonder what's going on. I now double check everything when dealing with any bank, hence spotting this date/operator issue.

bigadaj

ReBreatherSteve wrote: »

If Santander resolve the issue and move the money into last years ISA tax period then I'll drop my complaint, however I'm expecting Santander to be stubborn and refuse to acknowledge their mistake. This will leave me with one option and that's to switch banks.

In my opinion banks don't care about customers only share holders and bonuses. A family member works for one of the leading banks and some of the horror stories they have told me makes me wonder what's going on. I now double check everything when dealing with any bank, hence spotting this date/operator issue.

Try a d be objective here, emotions don't really help. Why would you drop your co,plaint, if its valid you either get resolution from the bank or you take it to the ombudsman in which case the bank will normally be charged. If its not possible to retrospectively change the account to last year then the bank will have to offer compensation, which will be several years lost interest, or at least the tax element.

After doing this you can then switch your account as you please, but your response smacks of cutting your nose off to spite your face.

Also banks are businesses, we deal with businesses on the basis of value and cost and service levels, if we don't like the offering we look elsewhere. This is how a free market should work, unfortunately we have become beholden to the big banks, I always try and save with building societies and avoid the biggest banks wherever I can.

ReBreatherSteve

BigAdaj - you make sense and I appreciate your comments, it's hard not to let emotions get involved especially when I've been lied too. If I did that in my job I'd be shown the door or struck off.

ReBreatherSteve

For all who have been following this thread....

A customer complaints representative from Santander phoned last evening (as agreed) to explain the ISA transfer has now been allocated to the correct financial year 2012/13 and apologised for the mistake - which is fabulous news. Therefore Santander have come good - well done.

As a token gesture they have credited my account with £30 for the inconvenience.


Many thanks to all the people on this forum for your advice - much appreciated.