Nationwide 0.75% 18 month ISA plus £50 bonus *** now withdrawn

pbartlett

The only (slight) compensation is that I assume you are continuing to get interest with your old provider, and NW will backdate interest at their end to the application date. So double interest for nearly 4 months and counting!

pinnks

I found this thread as I am in the same position as thousands of others.  Interestingly, I too received a letter telling me there was a problem with my old ISA account details.  Re-confirmed them but month-after-month nothing.  One call handler suggested she turn my questions into a complaint but even that fell flat.  Apparently, they could not deal with my complaint until the transfer had taken place and they could then review the facts - what a load of tosh.

Anyway, complaint was then picked up and dealt with.  They admit that the old ISA details issue was their error and that the transfer request has been done again  (that's the third time now, so we'll see) and will be overseen by the complaints handler.  I wait with baited breath. 

Be that as it may, I have received an unreserved apology and compensation of £100 plus reimbursement of costs related to chasing the whole torrid issue.  That payment has been received, so I am now waiting to see the funds transferred and the £50 paid too.   Interest will be backdate so that will need checking too when the time comes.

Finally, in one call the person admitted that they were totally overwhelmed and she had just come out of a meeting dealing with lessons learned/to be learned from the whole issue.  It reminded me of the Hoover free flight offer of the ?1990s?.

Yorkshire_Pud

Stop whinging you ninnies!

Yes Nationwide we’re totally overwhelmed and then promised to pay interest from date of application along with assurances that eventually they would process each valid transfer.

Which is exactly what they have done, maybe slowed down a bit by angry phone calls that only waste their time that they could have spent processing transfers. Frustrating for sure but so what? Plus they sent a letter early on to confirm the ISA application was successful so all in black and white in case of any misunderstanding down the line.

I’ve got my account credited from 3rd April, took four months receiving double interest, Nationwide did exactly what they promised and I only phoned once in early April to check the situation. I imagine the staff have been run ragged but it’s not their fault.

£50 to come and I don’t intend to make a complaint because I’ve got nothing to complain about (for a change 😊)

pinnks

For the record I am neither whinging, nor a ninny, but I thank you for your opinion. 

Nationwide has accepted that they screwed up with my account more than once and I am still waiting for the funds to be transferred, four months after applying.  The only phone calls or correspondence I have had with them has been at their behest. 

So, rant over, I think I am well justified in feeding my experience into this discussion.

xylophone

Stop whinging you ninnies!

It is perfectly reasonable to expect a financial institution (especially one of the size and importance of Nationwide) to have systems in place to manage ISA transfers efficiently.

Complaining about lack of efficiency (and worse of lack of competence and training) is not whinging.