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M&S to Santander transfer mess-up (Santander please read)
savetilibleed
Posts: 1,363 Forumite
Between the two of these organisation they have managed to mess up the same transfer twice. I'm just not sure who is wrong, or even who is telling porkies, or whether there is some sort of error in the system.
The transfer form was completed on the phone at the same time as opening the 123 Major ISA. It was at that time to transfer a M&S fixed term account, due to mature 2 April, in whole.
On contacting M&S on 4 April, by which time it had matured to their Advantage ISA, they told me Santander only asked for current year subscriptions so was rejected. Santander told me M&S had rejected it as it was against the account T&Cs and it was before the maturity date, being dealt with on 27 March.
I got to speak to someone at Santander who seemed to know what was correctly needed and a request was made of the 'back room' for another transfer submission, though they were not sure if it would work.:( The new (or amended not sure) transfer was sent off electronically 8 April. Phoning today I find that it is again rejected by M&S. I got two stories - one that it requested current year's subs (of which there are none and Santander knew this), and another that they didn't say what they wanted. Santander insisted (and the electronic form was read out to me) that 'Previous', 'Current' & 'All' were ticked and partial was not. So I could not see what the problem was.
Onto M&S again, insisting that I speak to a person who actually deals with transfers there, said they are getting this a lot from Santander i.e. wrong info. After I said I could not understand why problems could not be sorted between them and if it wasn't very soon, compliants would have to go in, he agreed he would phone Santander to sort it out. Still waiting to hear which will hopefully be tomorrow or Monday.
It seems that the transfer form you complete (even though I didn't physically do it) doesn't go to the other party, but some sort of electronic equivalent. So it seemed to be that if I did fill the form correctly, submit it, Santander would still get it wrong!:mad:
Sorry for the long post.:o
The transfer form was completed on the phone at the same time as opening the 123 Major ISA. It was at that time to transfer a M&S fixed term account, due to mature 2 April, in whole.
On contacting M&S on 4 April, by which time it had matured to their Advantage ISA, they told me Santander only asked for current year subscriptions so was rejected. Santander told me M&S had rejected it as it was against the account T&Cs and it was before the maturity date, being dealt with on 27 March.
I got to speak to someone at Santander who seemed to know what was correctly needed and a request was made of the 'back room' for another transfer submission, though they were not sure if it would work.:( The new (or amended not sure) transfer was sent off electronically 8 April. Phoning today I find that it is again rejected by M&S. I got two stories - one that it requested current year's subs (of which there are none and Santander knew this), and another that they didn't say what they wanted. Santander insisted (and the electronic form was read out to me) that 'Previous', 'Current' & 'All' were ticked and partial was not. So I could not see what the problem was.
Onto M&S again, insisting that I speak to a person who actually deals with transfers there, said they are getting this a lot from Santander i.e. wrong info. After I said I could not understand why problems could not be sorted between them and if it wasn't very soon, compliants would have to go in, he agreed he would phone Santander to sort it out. Still waiting to hear which will hopefully be tomorrow or Monday.
It seems that the transfer form you complete (even though I didn't physically do it) doesn't go to the other party, but some sort of electronic equivalent. So it seemed to be that if I did fill the form correctly, submit it, Santander would still get it wrong!:mad:
Sorry for the long post.:o
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Comments
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I'm currently doing something similar, but I opened the Santander ISA online then filled in and posted a transfer form. When I printed the form, it (adobe) generated a 3D barcode - this could be what they scan to generate the electronic thingy.
The transfer form is fairly typical - 'do you want to close and transfer all+interest or just partof the current balance', and (the bit they should have left blank...) 'if you've paid into the ISA during this tax year do you want to transfer this years, previous years, or partial balance'. Maybe they've put No (incorrectly) in the have you paid in this year bit?
Early days for me (only posted the form Monday), so no success/failure to report yet.0 -
I downloaded a blank of that transfer form in case I needed it. I just trial filled it in and yes it is simple. When you get to the 'Do you wish to close your existing (non-Santander) CashISA and transfer all the balance, including the accrued interest, to Santander?', part, if you click the YES box (which is what is required of course) the other boxes in question 1 relating to current and previous years and partial are unclickable, meaning the yes or no answers relating to current year and thus whether only that or partial is required cannot be filled in (no need in any case. There is a fault somewhere in how the information gets translated, and maybe it is in that bar code as you suggest.I'm currently doing something similar, but I opened the Santander ISA online then filled in and posted a transfer form. When I printed the form, it (adobe) generated a 3D barcode - this could be what they scan to generate the electronic thingy.
The transfer form is fairly typical - 'do you want to close and transfer all+interest or just partof the current balance', and (the bit they should have left blank...) 'if you've paid into the ISA during this tax year do you want to transfer this years, previous years, or partial balance'. Maybe they've put No (incorrectly) in the have you paid in this year bit?
Early days for me (only posted the form Monday), so no success/failure to report yet.
They appear to have change the design of the form from last year when I transferred in completely cleanly. Mind you the one I posted seemed to get lost and I ended up going to a branch and they duplicated it on another form which was sent through electronically as I was there. I had a copy of the form and yes it had a bar code as you describe.0 -
Haven't read it all in detail but may be you should file a formal written complaint with Santander rather than hoping one of them might read a post on the Internet and relate it to your case, and then do something that you expect they would do.
The receiving provider has the responsibility for the transfer.
You might also have a look at the transfer guidelines http://www.google.co.uk/url?sa=t&rct=j&q=isa%20transfer%20guidelines&source=web&cd=4&ved=0CGQQFjAD&url=http%3A%2F%2Fwww.bba.org.uk%2Fconsumer-guide-to-cash-isa-transfers&ei=4y9nUZzQEOel0QWNrIGoDw&usg=AFQjCNE0GOIQoRJJHWX2w3wbfKcmU-BIfQ&bvm=bv.45107431,d.d2k&cad=rja0 -
Damn complaints form on the site won't work (not available when I press submit)Haven't read it all in detail but may be you should file a formal written complaint with Santander rather than hoping one of them might read a post on the Internet and relate it to your case, and then do something that you expect they would do.
The receiving provider has the responsibility for the transfer.
You might also have a look at the transfer guidelines http://www.google.co.uk/url?sa=t&rct=j&q=isa%20transfer%20guidelines&source=web&cd=4&ved=0CGQQFjAD&url=http%3A%2F%2Fwww.bba.org.uk%2Fconsumer-guide-to-cash-isa-transfers&ei=4y9nUZzQEOel0QWNrIGoDw&usg=AFQjCNE0GOIQoRJJHWX2w3wbfKcmU-BIfQ&bvm=bv.45107431,d.d2k&cad=rja0 -
I ended up with Santander via Abbey Nat - could be different complaint form (Send not Submit) https://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=GSInformacion&canal=CABBEYCOM&cid=1210611410345&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FGSInformacion%2FWC_ACOM_FormA (haven't used it myself, so YMMV as they say).0
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I ended up with Santander via Abbey Nat - could be different complaint form (Send not Submit) https://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=GSInformacion&canal=CABBEYCOM&cid=1210611410345&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FGSInformacion%2FWC_ACOM_FormA (haven't used it myself, so YMMV as they say).
Yep that's the one I couldn't get to Send. Have sent a complaint via secure message now.0 -
I had massive problems with a Santander transfer few years back, money went missing for a couple of months. I swore never to put an ISA with them ever again, don't care what the rate is that they offer. General rule of thumb is, if Santander are involved it'll be them who's co*ked up. I sent an official complaint, but by letter (recorded delivery), and got about £50 compensation from them (can't remember exact amount).0
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Slight update. I just spoke to a guy at M&S who actually handles transfers. He has been in touch with Santander and now has a correct transfer application :T from them (third attempt!). I'm told M&S return that to Santander (to say its correct I suppose), then Santander have to request funds from M&S who then forward funds. The guy told me Santander take their time about allocating funds to the account - end of next week he reckoned. We'll see.
Oh well at least it's moved on, but with me pushing to get it progressed! Shouldn't be necessary.
But thank you M&S - your account was great these last 3 years.0 -
Hope it's sorted out for you soon. I'm due to transfer my M&S into a firstdirect shortly, but firstdirect haven't opened the ISA yet and don't know when it'll be done due to a backlog, hope it's opened soon. ISA season, don't you just love it.0
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Hope it's sorted out for you soon. I'm due to transfer my M&S into a firstdirect shortly, but firstdirect haven't opened the ISA yet and don't know when it'll be done due to a backlog, hope it's opened soon. ISA season, don't you just love it.
Yes thanks. Always a hassle isn't it - ISA season. Was so nice having two 3 year ones that unfortunately both matured at this time. Was certainly the right decision then to go for a fix. M&S was 4% fix (as you know), other one was a stepped rate 3.5-4.0-4.5%.
I just could not understand why the information Santander have didn't appear to translate when presented to M&S.0
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