M&S to Santander transfer mess-up (Santander please read)

savetilibleed

savetilibleed wrote: »

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.

Had a call from the lady at Santander who had arranged for a second transfer to occur. She told me this was unsuccessful (I knew this from M&S) but that another had been once M&S told them what was reqd. I knew from M&S they had informed Santander that it was now correct.
I mentioned that the M&S guy said it was now up to Santander to request funds from M&S, but this isn't quite what the Santander lady said - that they (M&S) knew to send funds. It was unclear, despite my attempts to clarify this whether Santander had actually requested or if they were waiting.

Anyway I asked if they would keep a handle on it and inform me when the account is credited (even though I will check daily). Today (15th) was apparently 15 days from the original application. I was after interest backdate past that time. No clarity on that.

funkyhitman

bxboards wrote: »

I transfered from M&S to Santander and I simply annotated the form. I filled in the M&S client reference number for the account number, and crossed out sort code / roll number as not applicable. The transfer went ahead with no problems and hit my 123 Major ISA on 5th April.

I didn't want to touch the form since Santander said not to write on it but it looks like it doesn't matter and perhaps was the best thing to do. When did you post your transfer form? I posted mine on the 8th April and received an update letter from Santander 11th April informing me that they're progressing with the transfer. I've heard nothing since and keep checking my online banking for a deposit.

bxboards

funkyhitman wrote: »

I didn't want to touch the form since Santander said not to write on it but it looks like it doesn't matter and perhaps was the best thing to do. When did you post your transfer form? I posted mine on the 8th April and received an update letter from Santander 11th April informing me that they're progressing with the transfer. I've heard nothing since and keep checking my online banking for a deposit.

I posted my form on 18th and got a letter from M&S in the mail on 3rd April (the letter itself was undated) saying that Santander had contacted them about the transfer, and the money was credited two days after that.

The transfer I think was slowed due to loss of two working days for Easter.

I think M&S will write to you and then once you get the M&S letter, it should happen soon after.

savetilibleed

bxboards wrote: »

I posted my form on 18th and got a letter from M&S in the mail on 3rd April (the letter itself was undated) saying that Santander had contacted them about the transfer, and the money was credited two days after that.

The transfer I think was slowed due to loss of two working days for Easter.

I think M&S will write to you and then once you get the M&S letter, it should happen soon after.

I knew from M&S late last week and from Santander yesterday that my transfer was to happen. I too got an undated letter from M&S today to say they have a transfer request from Santander and I need to nothing for it to proceed.

savetilibleed

The transfer is today complete and credited to my 123 Exclusive Major FRISA :j

innovate

How many working days in total did that transfer take?

savetilibleed

Transfer info completed 21/03/13 on the phone, in the same call as opening the account. But old M&S ISA for transfer not available until 2/04/13 (maturity). Transfer application handled by M&S initially on 27/03/13 and rejected. Santander reapplied 8/04/13 (after much phoning and speaking to someone useful at Santander) but rejected 09/04/13. After I called M&S, their transfer staff member called Santander and they got info correct on 12/04/13. Money in new account on 17/04/13.

So 17 working days from initial application, but 12 days from old account maturity.

datostar

My wife wants to transfer funds in an M&S Advantage Cash ISA to Santander. She also has 2 Fixed Rate ISAs with M&S which are still to mature and therefore need to stay with them. The 3 ISAs are all held under the same Client Ref. No. so the M&S absence of account numbers may cause a problem here. How can she make it clear on the Santander Transfer form that she only wishes to transfer the Advantage Cash ISA funds and not the others?

savetilibleed

That's awkward! I guess its best to call M&S to ask how to get around how to differentiate, so Santander ask M&S for the correct account. Maybe also doing that will put M&S 'on notice' that your wife will be applying to transfer out that account. Actually, thinking about it again, it will only be the Advantage ISA that is transferrable, at least without penalty, so that ought to be the one that gets transferred. The fixed ones will be denied transfer (I hope that's true for your wife anyway).

savetilibleed

innovate wrote: »

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=rja

I have a satisfactory resolution in the form of a completed transfer, interest backdate, apologies that I needed to get so involved between the two banks, as it was indeed an issue between Santander and M&S, and miss [sic] communication from Santander's transfer forms. The issue has been raised with the appropriate departments. And a goodwill payment