Top Cash ISAs Discussion Area

opaque

Thanks you two

Thought it would be the case but the first time I did that it was with my own bank so it still sits there as an empty account on my list of accounts!

leaphaze

opaque wrote: »

Thanks you two

Thought it would be the case but the first time I did that it was with my own bank so it still sits there as an empty account on my list of accounts!

That's unusual! Is it NatWest?

opaque

HSBC
I've not actually tried doing anything with it and it might have been back when they started so who knows what is going on with it. It's just still there on my online banking. Or it was last time I looked. Probably disappear if I looked now :P

I know I should have moved my now low % deal from Santander already but been a bit busy. Postal only is a bit weird but hey ho.

gunmaker

opaque wrote: »

Thanks you two

Thought it would be the case but the first time I did that it was with my own bank so it still sits there as an empty account on my list of accounts!

I moved an ISA from Halifax to Santander in April 2012. The account remained in the Halifax list of my online Halifax accounts. When I asked how to delete it I was told it would be deleted automatically. It's still there today with a nil balance..

shakiratime

As a regular to MSE I took out an ISA with the Cheshire, this was a HUGE mistake !! To cut a loooooon story v.short -

1. completed online a/f & chased progress several days later, they asvise they never received despite me having downloaded a copy. Re submitted again, posted a paper copy with full details of a previous isa I wanted to transfer. When I queried they had no record of transfer form!! Sent another !!
2. Received apology letter and t&c booklets etc advising they had forgotten to send these when account was opened!
3. Recently tried to withdraw some money, forward the withdrawel form duly signed, after nearly a week I chased to be advised the mail I sent was 'not on their system yet, mail can take 5 days to be scanned on' - this has to be the worst organised and run financial institute i've had the misfortune to come across...

a few days later they wrote to advise they don't have a copy of my signature on file (despite me sending paper a/f & transfer form which were both signed and without the previous isa provider woud not have allowed transfer) and returned my withdrawel form.

I wrote a letter of complaint which has still to be acknowledged or answered and enclosed their CLOSURE form to close the account as I was fed up (i'm being polite here !) with their incompetence. They have today written back to advise they need to see my original passport of driving licence or they cannot deal with my enquiry, after a further call to them the girl duly hung up.

In between times i've had numerous frustrating tel calls with staff at the Cheshire (no one appears to take ownership of anything here) and whilst they are polite on the phone they just don't have a clue, nor careless, their systems appear dated and they have absolutely zero customer care!

You may think this is an isolated incident however unfortunately it's not, we took out another 2 products with the Cheshire and both have been a disaster from the outset and both are also in the process of being closed. I recommended them to a friend who took out an ISA just after I did, they lost 2 of her deposit cheques, both sent at different times, the third cheque they said had been banked and her account was now credited but 7 days later the money was still showing in her savings account, after a further complaint she managed to get her issues resolved but it also now in the process of closing her account.

In short, an institure may offer the best interest rate but if their customer service is non existent you're better off with a slightly lower rate from a company you can trust!

shakiratime

opaque wrote: »

Silly question.
If I transferred my Santander ISA's from previous years to say Cheshire does that actually close down my account with Santander or does that leave an empty account with them?

I've just posted a shortened version of my issues with the Cheshire, would certainly NOT recommend. I've been in financial services for 19yrs this is the worse I have come across!!

Keef_uk

...and I am not at all finance-savvy so looking for advice as I do realise that to just allow it to auto-renew into a new 3 year deal is probably not a good idea - especially as they now charge a withdrawal penalty (this is part of my emergency fund so I might one day need the cash).

I did well out of the existing savings certificate and I know I wont get such a good deal again but they are offering me, as an exisiting investor, the following:-

3-year Index-linked savings certificate 24th issue
Guarantees compound rate over 3 years From February 2013:
index-linking + 0.15% AER
Penalty - 90 days interest on the amount withdrawn and loss of index linking for the whole amount for that investment year.

I have £11,500 in the existing account and have not used this years ISA allowance. I am retired (at 60) and taking small pension (not enough to pay tax on it yet)

So, do I renew with them or move out somewhere else - or perhaps 1/2 and 1/2?

I am a very long term MSE fan but this is my first ever post Any and ALL advice welcome - even if it is to tell me to take professional advice instead.....

Keef.

JoRowlingRocks

Thanks for the info shakiratime, I was thinking of going with Cheshire but I've had a few issues with other banks recently and can't be bothered dealing with more so I think I'll go elsewhere!

I don't know what my best option is though... I have two ISAs from previous years that I need to transfer as the rates on both of them have plummeted. I think my only options apart from the Cheshire are the Virgin 1 year fixed at 2.2% or Santader 2 year fixed at 2.5% but Santander are who I've recently been having issues with, and I was hoping to find something higher than 2.2%... Decisions decisions!

innovate

JoRowlingRocks wrote: »

.... I was hoping to find something higher than 2.2%...

Afraid, the way things are going, you might have to wait for several years before you see any cash ISA much above 2.2%

JoRowlingRocks

innovate wrote: »

Afraid, the way things are going, you might have to wait for several years before you see any cash ISA much above 2.2%

Yeah I think you're right! There are a few (mostly fixed but I don't mind that), but they all either seem to not allow transfers in or are for customers of X accounts only.