Abbey ISA Rant

Dave2012_2

I applied to transfer my ISA from Safeway to Abbey Postal just 2 days before I got Martin's tip saying the rate was dropping. The application was sent off almost a month ago and I've heard nothing. Whenever I ring up, I get put through to an automated answering service that tells me "to be patient." How long does this take, really!? I've read other messages on these boards that it took 10 minutes in-branch! They can't even tell me if my application has been received let alone whether they're doing anything with it. To be honest I'd rather just stop the whole process and apply somewhere else but because they won't tell me if they've received the application or not, there doesn't seem to be a lot I can do. They have assured me that if it was received before May1st it will go to the higher paying first-issue, but I don't know if I want to trust them with my money now. Any advice on what to do?

Cheers all!

Kazza242

Dave. You could ask Safeway if they've been contacted by Abbey and whether they have sent off all necessary documentation to them. I understand that Abbey currently have a backlog of ISA transfers to process, but the delay with your transfer may not be their fault. If Abbey are waiting for Safeway to return documentation, then they won't be able to proceed with the transfer until they receive them.

Once you have confirmation from Safeway that they've done their bit, then you could pop into an Abbey branch (if possible) and ask for an update on how things are progressing.

Dave - A number of other MSE members have also reported delays with their transfers to Abbey. You can find a link to the thread HERE.

Gambler

I had a massive delay last year when I tried to deposit my annual £3k. This was due to new applications still being processed. They did backdate the payment when it actually hit my account though.

natalie1980_2

I posted my form away on Good Friday, as the weeks went by I decided to phone Abbey, got through no bother phone 0141 565 7361 (its their Glasgow call centre that deal with ISA's). They told me they where really busy and it could take up to 30 days to transfer my ISA from the Halifax. I finally recieved my Envelopes, transaction forms etc, but my ISA still hasnt been transferred over yet.

isasmurf

Don't Abbey run Safeway's ISA?

davidcampbell

certainly we used to isasmurf.

not entirely sure we still do but i think so. im pretty sure we only run old accounts these days and dont open any new ones.

DC

Dave2012_2

Abbey do run Safeway's ISA, but they've renamed it "remote ISA" and will not open any new accounts after the start of June (I think), it was pretty good but I wanted the higher rate, and figured the safeway rate would start to plummet after they stopped opening new ones. I only found out that abbey were dropping their 5.35% postal ISA after I sent the transfer forms off. I'm now worried I'll have opened a new account with the same problems!

Dave

Fatboy_NSS

I had a similar issue with a customer I saw in branch recently, and got sonfirmation from our ISA desk that transfers between accounts are currently taking around 3-4 weeks to process. However they are all being dated when they're received, so you will get the old Postal ISA rate and it will be backdated to the day when we received your form.

brm_2

Dave2012 wrote:

I applied to transfer my ISA from Safeway to Abbey Postal just 2 days before I got Martin's tip saying the rate was dropping. The application was sent off almost a month ago and I've heard nothing. Whenever I ring up, I get put through to an automated answering service that tells me "to be patient." How long does this take, really!? I've read other messages on these boards that it took 10 minutes in-branch! They can't even tell me if my application has been received let alone whether they're doing anything with it. To be honest I'd rather just stop the whole process and apply somewhere else but because they won't tell me if they've received the application or not, there doesn't seem to be a lot I can do. They have assured me that if it was received before May1st it will go to the higher paying first-issue, but I don't know if I want to trust them with my money now. Any advice on what to do?

Cheers all!

Abbey are now getting used to their siesta's!!
They have always been slow but do seem to come good in the end.
I have the 5.35% Postal ISA but have had to get them to send me a letter(as they can't send an email) to confirm that the above rate still applies to my ISA. This was subject of a tecon yesterday.
There is nowhere on their web site that states this! The ISA dept says they don't have control of the detail of interest rates advertised on the site!!

Hope this helps.
If they don't come good then you only have one option.
I will be changing if they think they can start playing games with me.

Dave2012_2

I phoned them yesterday to check actually, and they claim never to have received my application - they reckon they're processing April 25th onwards now, and they should've received mine well before that so sod it, I'm gonna apply elsewhere!

natalie1980_2

They posted me my envelopes and transaction forms and my first direct debit payemt has been taken but they STILL havent transffered my ISA from the Halifax, I sent my app away on Good Friday, should it be transferred from the Halifax by now ?