Nationwide/Portman

fireball

DawnW wrote: »

Is anyone else having grief with Nationwide's handling of former Portman accounts? I had a bond due to mature on 4 September, and duly received a form from Nationwide and a letter asking me to send to them the completed form to let them know what I wanted to do with the funds, a tear off slip that they were supposed to send back by way of acknowledgement and my passbook:eek: which I duly did.

In the small print N/W give themselves 7 days to complete your maturity instructions - if you transfer to another N/W account, this is usually quicker. If you transfer to another N/W account, transfers are backdated to the date of maturity. If you requested a cheque, I guess you lose interest; I've never done that. I had problems with a N/W account when N/W claimed they didn't receive the tear-off slip and they then refused to accept the instructions on the phone, so I had to make a special journey into town to give the instructions. I didn't lose interest as a result but I have not been compensated for the expense or inconvenience of the journey.

In the last 2 years I have had 5 complaints to the N/W, and have not received any compensation for the inconvenience. Before that they were good, but I would no longer recommend them. Other societies are MUCH better at compensating their customers when they get it wrong.

I am just about to start on complaint 6 - N/W claim they can't tell me whether interest has been paid into my Portman fixed rate bond without closing the account and transferring the proceeds to a N/W account. They could not say which account the proceeds would be transferred to or whether this closure before maturity would result in the loss of any interest. Customer Service?????:mad:

oldandhappy

quote...I am just about to start on complaint 6 - N/W claim they can't tell me whether interest has been paid into my Portman fixed rate bond without closing the account and transferring the proceeds to a N/W account. They could not say which account the proceeds would be transferred to or whether this closure before maturity would result in the loss of any interest. Customer Service?????:mad:...unquote...

If the Bond has not matured yet then it will still be a fixed interest surely. If it has matured then they change the account over to a nw account and add all interest and then you can request a cheque for the full amount to take to a better rate account...not sure if they do BACs...Mrs Happy

bristolleedsfan

fireball wrote: »

In the last 2 years I have had 5 complaints to the N/W, and have not received any compensation for the inconvenience. Before that they were good, but I would no longer recommend them. Other societies are MUCH better at compensating their customers when they get it wrong.

I am just about to start on complaint 6 - N/W claim they can't tell me whether interest has been paid into my Portman fixed rate bond without closing the account and transferring the proceeds to a N/W account. They could not say which account the proceeds would be transferred to or whether this closure before maturity would result in the loss of any interest. Customer Service?????:mad:

http://www.myfinances.co.uk/News/bank-accounts/current-accounts/nationwide-tops-customer-satisfaction-poll-$478403.htm

baby_boomer

An example of the pressure Nationwide may be under.

My partner and I both had bonds which had closed and we wished to withdraw the money.

We sent off instructions by post at the same time - she to head office, me to my branch (which is merging with a closed Portman branch in the same town).

Head Office weren't quick - but at least the cheque came within 8 days.

My cheque from the branch has only just emerged - THREE WEEKS LATER! I was beginning to assume I had been the victim of a postal fraud.

Ironically the Nationwide branch (with only 3 counters) is much smaller than the Portman branch that closed. And the Portman branch in the same location (which had 5 counters because if was a former Lloyds Bank) had also swallowed a Lambeth branch a few months ago.

Too much penny-pinching, I fear, by Nationwide. The closed Portman branch was bigger and had a better location .

mk-donald

I too fear the race for size has yet again reduced customer care standards, as it certainly has with my Universal BS -> Newcastle BS a/c.

Portman always served me very well by post from Bournemouth, whereas local Nationwide branch never very impressive.

Planning ahead to close an old Lambeth BS a/c -> Portman BS -> Nationwide BS once the merger was through, I phoned to find where to send it and was told a Nationwide address in Swindon. Duly sent it off 28/8 and heard nothing.

Did get through fairly quickly earlier this week on the phone and a VERY helpful lady from ex-Portman Bournemouth ended up chasing it for me AND getting back same day with news that no trace of my passbook/closure request in Nationwide's systems and would need lost passbook form to get it all sorted IN BOURNEMOUTH. So now have that in process.

Just keeping my token a/c with Nationwide in the hope of blagging something if/when they get subsumed into some jumbo bank or else demutualise as they'll have no 'mutual' feeling left with any members!

will-in-estoril

I have today received a reply from Nationwide to my complaint of not being able to migrate a child trustee account without jumping through hoops.

The letter admits shortcomings in integrating the two IT systems, so that a member wishing to transfer an old Portman account has to close that account and open a new one. This is complicated in the case of accounts held in trust.

What absolutely astounded me was the admission that Nationwide has to send a cheque from Portman House to Nationwide House to effect the 'transfer'. This almost beggars belief.

If Nationwide has failed its members because of its IT issues, then it surely short pay equal rates of interest on old Portman accounts until it sorts the problems out.

I have now escalated this complaint, and will go as far as the FSA if necessary. All members in my situation are encouraged to do the same.

kazzy

believe me it is a bloody shambles this merger. It is a disgrace on customers and ex Portman staff. The back up from Portman H.O. was ace and efficient.The Nationwide is the complete opposite. No back up ,no help..slow to do ANYTHING . A friend of mine works in the probate dept of a solicitors and she says Nationwide take younks to respond to letters.
Nationwide have no log(like the Portman did) to trace books.ie when they left branch,when they arrived in H.O. etc etc ..no trail. Unbelievable.
I feel sorry for all the staff in ex Portman branches who are doing there best where mangement have completely cocked up.
All the machinery in ex Portman branches is new and none of the printers take old Portman books. Hence when you do a transaction your book needs to be changed over first.
I would recommend you don't send a form off with passbook to get a cheque. Withdraw all your money in branch in a cheque form there and then !!!!

DawnW

Update:
I rang the Swindon helpline number I had been given on Friday, and after the usual delays, got through to someone who at least tried to help. She made numerous calls, popped next door to the relevant department etc (all the time while I was waiting, but at least not a special rate number this time), looked in loads of logs etc, and no joy. No sign of my documents. After some 30 minutes or so, she informed me that, as I wanted to close the account rather than reinvest the money, the paperwork would have been sent from Swindon to Bournemouth, so now I needed to ring there. Rang the number she gave me, cue more delays etc, and I eventually got through to someone in the mortgage department! Apparently, the savings department are very busy at the moment and she is taking their calls. She would get them to ring me back later that day. I duly waited in all day. Did they ring back? What do you think? More phone calls on Monday I guess...

kazzy

the savings dept in Bournemouth is full of temps who don't know what they're doing:mad: