IMPORTANT: Change to M&S ISA transfer info

rb10

I believe that Barclays Representative is correct in saying that it wasn't the use of zeros that led to your transfer being delayed (as there's no reason why that would be the case - they should have just forwarded to M&S regardless of what was on the form), i.e. Barclays misplaced (/lost) your form.

Lansdowne

The real question for a Barclays representative is why their ISA transfer form requires a sort code and 8 digit account number. Sort codes are for bank accounts, current a/cs and suchlike, there is no requirement for a savings account to have a sort code or 8 digit number. If this is an online form the solution is simply to change the form to make it an optional field.

mgdavid

Lansdowne wrote: »

The real question for a Barclays representative is why their ISA transfer form requires a sort code and 8 digit account number. Sort codes are for bank accounts, current a/cs and suchlike, there is no requirement for a savings account to have a sort code or 8 digit number. If this is an online form the solution is simply to change the form to make it an optional field.

All Barclays accounts have a sortcode and 8 digit number, whether savings, offset, mortgage, ISA or whatever. No doubt they expect eveyone else to do the same - one could say bleedin' obvious really. It must be very difficult to track and handle in this day and age without them. Quill pens and hand-delivered IOUs on parchment??

vigman

rb10 wrote: »

I believe that Barclays Representative is correct in saying that it wasn't the use of zeros that led to your transfer being delayed (as there's no reason why that would be the case - they should have just forwarded to M&S regardless of what was on the form), i.e. Barclays misplaced (/lost) your form.

.....then why the telephone conversation with 'another' Barclays rep in the ISA department telling me it was the use of zeros holding things up and to use the specific code I was given for M&S transfer ins as without it transfers weren't getting processed?

My telephone conversation went something like this:

Me: Hello, I have just spoken to M&S and they say they have not had a request yet for the transfer of my ISA to my new Barclays ISA. I sent a request form in about 2 weeks ago?

Barclays: Ah, we are having quite a few problems with M&S ISA transfers and there is a backlog. What did you put for the sort and account

Me: When I couldn't complete your form online, I rang M&S and they told me to use zeros.

Barclays: That has been the problem. We have had talks with M&S and we have been advised to use sort code 40-01-06 and account number 42593769 for M&S transfers.

Me: Thanks, I'll use them.

Barclays: It's all right, I can do it for you now on the phone (I had passed security and we went through fixed statement and questions and confirmed it was a complete transfer). That's all done for you now, it will probably take two more weeks.

Me: OK, thanks! Bye

[2 weeks later I receive a paper transfer request form through the post with the sort code 40-01-06 and account number 42593769 on]


What is worrying me more is that 3 more term M&S ISAs finish soon and I was going to transfer them in as well, but I can't bear this aggro times four even thought the 2.2% I would get is one of the best rates around!...and if I did transfer them do I use zeros or the 'special' M&S advised sort and account codes!?

Vigman

vigman

Out of interest I have just opened an E-ISA for my wife with Nat-West.


When it got to the transfer in section, M&S were listed in the banks BUT the form would not accept zeros in the sort code and I could only continue by using the 40-01-06 advised code!!

Vigman

vigman

Result!

I have just had a phone call from Barclays and they have confirmed that there have been ongoing problems with M&S ISA transfers for many people, not just me.

The sort code should be 40-01-06 and not zeros.

Barclays apologised for all the hassle and wasted time and have given me 6 months interest on the transfer amount by way of an apology!

I do appreciate genuine customer service and publicly thank Barclays for this gesture!

Vigman

Lansdowne

Yes but are they going to rectify their poor programming?

vigman

...............and I still have to wait for the transfer to finally happen!

Vigman

vigman

...done....12/6/2013....and the advised sort code was used not zeros!

Vigman

PS M&S ISA transfer did not go through automatically to NatWest either. Had a transfer form sent and used the advised M&S sort code.....let's see what happens here!?

PPS AA ISA transfer to NatWest did not go through automatically because of a disparity in address (We are 1-3, or 1 & 3 Happy Street and AA had used "1" and NatWest "3". Wanted to change the NatWest records as it is easier to use the first number and the ISA team said use online banking. Online banking say to go to branch with ID!

So ditching and switching, for various reasons, is much easier said than done!

Vigman

vigman

Post script note:

Having as much trouble transferring an M&S ISA to a NatWest account!

Vigman

PS Now going ahead but had to use the advised M&S sort code here and not noughts!