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Still missing Junior ISA funds in NS&I
YH
Posts: 2 Newbie
I applied to have my 2 daughters junior ISAs transferred from Nationwide to NS&I in early June. Nationwide transferred the monies mid July but NS&I so far have only registered 1 transfer and that was in late August and my youngest daughter's jr ISA still has not been identified/formally transferred. After several long waiting calls (over an hr), a formal complaint registration and now escalated to the Financial Ombudsman I have had no joy. And now the interest rate is dropping!
I appreciate COVID-19 has meant disruption to services , but I do wonder if it is also now being used as an excuse for poor service. I would have thought banks/building societies etc would have been ahead of the game in terms of technology and remote working given the amount of investment and profit.
I don't think I'm being unreasonable by expecting a straightforward ISA transfer to take less than 3 months. Has anyone else experienced severe delays in ISA transfers?
I presume I am not the only one?
0
Comments
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I opened a new JISA with NS&I in March to transfer in from Coventry JISA. It took three months to process and the only way I was able to get any contact with them was via Twitter! They blamed staff shortages due to Covid and assured me that the interest rate would be paid from the date I applied. All was sorted eventually without me having to complain.
Of course now they are slashing the rate and the Coventry is much higher!!0
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