Shawbrook.I can't get my money out!!

New_to_This

I have a 6mnth bond with Shawbrook which matured 19/11/13. I contacted them by phone on 14/11/13 to give instructions where to transfer my savings when they matured.Told money would be transferred by close of buisness on 19/11. On 21/11 no money transferred. Rang them again in the evening of 21/11 told that they had record of call but it hadn't been actioned & that money would be transferred by close of buisness on 22/11. Well, checked last night & no money has been transferred. I sent a complaint email on their website last night. They are not available at w/e so I now have to wait until Monday to phone again. Where should I go from here? Should I write a letter of complaint & keep phoning them? Can anybody advise the right steps to take? It's like banging my head on a brick wall trying to get my money out.

agrinnall

You can't be sure yet that the money hasn't been transferred. If they did it yesterday by Faster Payments then it has until close of business on Monday to get to your account. While you might want to chase it up on Monday to find out if the transfer was actually done you're not in a position to challenge any statement that it has taken place until Tuesday.

jonesMUFCforever

..........And if they use BACS credit it might be Tuesday or even Wednesday before it is credited to your account.

agrinnall

jonesMUFCforever wrote: »

..........And if they use BACS credit it might be Tuesday or even Wednesday before it is credited to your account.

Indeed, it might - I decided not to complicate things too much as I think ringing them on Monday to find out what has happened is the best move for the OP. But if they decide to do so it would be worth asking what payment method has been used.

New_to_This

Thanks for your help,atleast when I ring on Monday I'll know what questions I need to ask.

typistretired

Do you have online access to your account as according to their frequently asked questions the following happens:-

What happens at the end of the fixed-deposit term (often called maturity)?

At maturity, you can either withdraw your funds or transfer them into a new Shawbrook account of your choice. If you do not let us know what you wish to do by the maturity date, we will move it into an instant access account for you and confirm the interest rate in writing.

As they seem to have not followed your request to close and send a cheque maybe it is in a instant access account!!!

New_to_This

Don't have online access to account.They supposedly inform you when account is due to mature.They didn't bother. As it's quite a substantial amount I was well aware of the date,that's why I rang them 5days before & gave the girl instructions which she didn't action.The 2nd girl didn't mention it had gone to easy access so I can only hope it hasn't gone there.