ARGGHHHH I am a numpty

Gadfium

Was making a £10K transfer this morning, and was rushing. I've only managed to transfer out of my ISA and not my current account! :mad::mad::mad:

Santander are being bloody useless about this (typical). It's my mistake and I am trying to rectify it. Anyone know if this is possible? Can they reinstate the ISA protection?

Speculator

see this thread from 2008 for more info.

info.https://forums.moneysavingexpert.com/discussion/868133

Gadfium

Looks like I am gubbed then:(:(:(

Speculator

see 10.31a

http://www.hmrc.gov.uk/isa/isa-guidance-notes.pdf

"Cash withdrawn from an ISA in error by the investor (or the investor’s agent) cannot normally be reinstated. "

pqrdef

I have this problem with Santander's website all the time. I've made umpteen payments out of the wrong account.

HMRC have had a lot of these and they've specifically recommended banks to give a warning before withdrawing from an ISA. It's in one of their newsletters for ISA managers.

Actually of course nothing's happened yet and no money has gone anywhere. Money doesn't fly around in real time, even if they fake the illusion that it does. You've given an instruction to your bank, but nothing would stop them allowing you to countermand it, if they wanted to. They just don't want to.

What if you did a withdrawal by post, and sent another letter in the same post asking them to ignore it? What if you sent a withdrawal by post, then phoned them up and asked them to ignore it when it arrives? There doesn't seem to be any definite rule about when an instruction becomes a transaction.

Gadfium

I rang them within 5 minutes of making the transaction at 7:45AM.

Gadfium

pqrdef wrote: »

HMRC have had a lot of these and they've specifically recommended banks to give a warning before withdrawing from an ISA. It's in one of their newsletters for ISA managers.

Do you have a link for that, by any chance?

Santander have told me that they won't do anything as I was my mistake. HMRC have said similar.

What an idiot I feel :mad::mad::mad: I've lost two years worth of ISA tax sheltering. Ah well, at least it stops me moaning about the rubbish interest rates!

psychic_teabag

pqrdef wrote: »

I have this problem with Santander's website all the time. I've made umpteen payments out of the wrong account.

yeah, it is confusing - some paths through the interface means payments default from my current account (first on the display).

I think Santander allows you to remove accounts from the list shown in online banking. So if you only use the ISA occassionally, you could remove it from the display to avoid such mistakes. (Can easily add them back again - it's not permanent.)

However, I have a feeling I tried this once, and even though it was no longer on the list of accounts, it still appeared in the various drop-down lists when you were making a transaction, so it wasn't actually that much of a help. But I may be mis-remembering that (or they may have changed it since).

If the drop-down list is in the same order as the accounts are displayed, then reordering the items in the display might help. Perhaps even opening some surplus esavers to act as padding.

bigfreddiel

pqrdef wrote: »

I have this problem with Santander's website all the time. I've made umpteen payments out of the wrong account.

i dont get it - i use S and its so simple a 2 yr old could do it with a mistake

and you get a chicken screen to confirm your actions so its just not possible to make an error

fj

innovate

bigfreddiel wrote: »

i dont get it - i use S and its so simple a 2 yr old could do it with a mistake

without?

bigfreddiel wrote: »

and you get a chicken screen to confirm your actions so its just not possible to make an error

fj

I agree with you really.......but then I have quite recently sent a large payment (> £10K) to a completely wrong recipient myself. Don't ask me why, it's a mystery to me how I could first select the wrong payee, and then press OK on the confirmation screen. All my own fault, I wouldn't blame anyone else for it. Until this happened to me, I couldn't comprehend how anyone could make a payment to a wrong recipient. Actually, I still can't comprehend it.....

Gadfium

bigfreddiel wrote: »

i dont get it - i use S and its so simple a 2 yr old could do it with a mistake

Thanks for your helpful and enlightening post.

Not that I have to justify it, but I was under time pressures. I made a human error. Sucks to be me.
Clearly you are a superior being that does not make errors. I salute you and the shiny, happy world that you inhabit.

bigfreddiel wrote: »

and you get a chicken screen to confirm your actions so its just not possible to make an error

Well, I disagree. It IS possible to make an error. I know this because I did it.