Santander say I have busted by ASA allowance when I have not.

smjxm09

I opened a new ISA for this financial year with Santander using my entire entitlement. While I was on the phone I asked them to move my existing old ISA with the Halifax and combine it with this new ISA.


Santander wrote to me telling me that I have exceeded this year’s allowance so I could not combine ISA’s . I complained so they opened a case but after investigating it they closed it as complete without giving me an answer.


I complained again that I have not funded another ISA this financial year but I seem to be going around in circles. What can I do as my old ISA has now lost its bonus so this delay is costing me money.

innovate

Your report is quite confusing.

You cannot transfer an ISA without filling in a form and signing it.
The only way to get money out of your old ISA is either by a transfer form, or by a withdrawal you make.

How much money was put into your ISA from where, when, how and by whom? What is your new Santander ISA called? How much have you still got in the Halifax ISA?

dzug1

Does the new ISA with Santander accept more than one deposit transaction? If it's a fixed rate one it may not

notbritishgas

innovate wrote: »

Your report is quite confusing.

You cannot transfer an ISA without filling in a form and signing it.
The only way to get money out of your old ISA is either by a transfer form, or by a withdrawal you make.

How much money was put into your ISA from where, when, how and by whom? What is your new Santander ISA called? How much have you still got in the Halifax ISA?

Well you can with Santander:eek:

On April 8 I opened a Santander 123 2 year ISA over the phone and told them I wished to also transfer my last years Saga IsA which matured on 17 April.

Fully expecting them to send me a form to sign they told me that no all was done electronically.
Subsequently I received notification from Sanatander transfer dept. that they were progressing it, and then later on Saga wrote to me saying they had received notification that my ISA was to transfer and that they were progressing it.

To date it has not appeared in my Santander ISA but the 15 days are not up until this week.

JoeCrystal

Just wondering notbritishgas. Did you also provide full details of your old ISA as well when on the phone? That might be enough to do that.

Cheers,
Joe

innovate

notbritishgas wrote: »

Well you can with Santander

That is entirely not in line what their website, as well as the BBA, says about external transfers. And what every other ISA provider does.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1237836201044&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA1

This would be the first time I have heard that an external transfer gets enacted based on a phonecall. Though there is always a first a for everything.....hope it will all go through as expected for you, but I wouldn't be happy myself to request an ISA transfer on the phone.

ColdIron

notbritishgas wrote: »

Well you can with Santander

Yes, this seems to be standard with Santander now. I thought you would need a form at least for a signature but this doesn't seem to be the case. I wasn't able to use it myself as Metro Bank was not on their (otherwise extensive) list of providers and I had to download the transfer form .Pdf which suffered the same problem and wouldn't allow printing until all required fields were complete

I was actually slightly more worried about posting a transfer form than having them record it over the phone as there would be less risk of my request going astray. I think it's a pretty good move

Somerset

innovate wrote: »

You cannot transfer an ISA without filling in a form and signing it.?

You can with Halifax as well.

Just to clarify, I opened a Halifax isa and requested a transfer in from an existing provider (previous year's funds). This did involve printing off form's and posting.

However, once the account was active, I then requested a transfer in from my M&S isa which was out of it's fixed rate. This request was actioned entirely over the phone. Funds are all in my new Halifax isa.

notbritishgas

JoeCrystal wrote: »

Just wondering notbritishgas. Did you also provide full details of your old ISA as well when on the phone? That might be enough to do that.

Cheers,
Joe

Hi Joe
Yes they wanted to know the provider (Saga) and the account number.

When I received the letter from Saga telling me they had received a request to transfer my ISA they gave a number to ring if I did not wish to transfer.

notbritishgas

innovate wrote: »

That is entirely not in line what their website, as well as the BBA, says about external transfers. And what every other ISA provider does.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1237836201044&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA1

This would be the first time I have heard that an external transfer gets enacted based on a phonecall. Though there is always a first a for everything.....hope it will all go through as expected for you, but I wouldn't be happy myself to request an ISA transfer on the phone.

Yes I did see that on the website and after I cleared down from the phone call I did wonder whether to print out the form and send it as a belt and braces exercise.
In the end I did not and trusted the advisor!! I will update when/if the money hits Santander.

Looks like Halifax do the same.

JoeCrystal

You can do it online with barclays as well I believe. The annoying thing is that Barclays demand the proof of address, ID and NI number in the branch when transferring Cash ISA from Halifax. Despite the fact I already got a current account with Barclays for well over a decade and opened Cash ISA (which require NI number) about a week ago. You would think that would be enough, but apparently not...