in ISAs & tax-free savings
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Have other Forumites found bank communications on ISA transfers to be very generic and not application to them? After doing a partial transfer (which I believe both providers allow) I received a notification text from old provider saying account would be closed once transfer is complete. But logging into that account, I see just the requested amount transferred. With their phone lines jammed, is there any need for concern?
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Paragon to Santander (existing Santander customer)
Coventry to YBS (existing YBS customer)
Coventry triple access to Coventry fixed rate
full internal isa transfer, done immediately 27/11, email received on 30/11 to advise completed
Virgin easy access to Virgin fixed rate
partial transfer requested 27/11...completed 29/11.
Santander easy access to Coventry fixed rate
partial transfer, requested 27/11....completed 28/11
partial transfer requested 29/11...completed 1/12
Santander easy access to Santander fixed rate -
Partial transfer - tried to request on 28/11, but while speaking to advisor, phone call cut off. I thought he would ring me back, but the phone rang once only, when I rang back again it was not an incoming phone line so gave up for the day.
Requested again on 29/11, advisor had to fill in a form to get this done - currently still waiting to complete.
Santander easy access to Virgin fixed rate,
partial transfer, requested 27/11....rejected by Santander - only found this out on 30/11 when querying duplicate transfer with Virgin - see following problem which is how I found out about this one being rejected when I contacted Virgin on 30/11
partial transfer requested 29/11...completed 30/11, but the transferred amount was duplicated - still trying to find out whose fault that was
I spent 4 hours yesterday chasing the above two transfers with Santander and Virgin. Virgin told me that the transfer request on 27/11 had been rejected by Santander.
I went through security with Santander and was transferred into a queue where I waited for 2hr 10mins, during which time I spoke to an advisor on chat who said I should keep on the line. They said they only had limited access to my accounts and couldn't tell what the problem was and couldn't advise on waiting times.
During this time I got an email telling me to log onto Santander as I had an alert - it was telling me that the first transfer to Coventry had gone through, but it gave a different contact number, so I rang that one.
I got through security again, and into the queue where I was instantly cut off
Went back into queue again after new call and security, and was answered quite quickly
Advisor was not very helpful, said first transfer failed because by the time request was dealt with my balance had changed since the request had been sent it - that didn't make much sense as when you make a request, you have no idea what order they will be sent in by different companies, but once received, I assumed would be in order they were received - obviously not. And why does it matter anyway if there is enough money to complete each one
I said I thought it could be due to the duplication of the later transfer, but he said that was not the problem. I couldn't understand why the later transfer to Virgin (duplicated), was done before the first one to Virgin. He said I should have sent both together.
Advisor told me to request the first transfer via Virgin again - I said it would fail, but he didn't seem to understand why. I said I would resend it less the duplicated amount, as there would not enough money in the account once all transfers had completed.
After I came off the phone, I arranged the transfer less the duplicated amount. I rang Virgin who could see the transfer and said all was well. I asked her to find out whose fault it was that the other transfer was duplicated, she said she would ring me back today. No call received as yet
However, the transfer completed today and now I just have the internal Santander transfer to be completed, and I will request a final transfer (less than £100 plus interest) from the Santander easy isa to the Virgin easy isa once the internal one is completed.
I've already got two outstanding complaints with Virgin. Is it just me that found out that if you open another easy access Isa, 3% interest, and arrange a transfer in, that the original gets closed and monies moved to the new one so you don't have to send transfer forms in? I didn't - I don't imagine they realised either. It's far quicker.
I have also raised a complaint with Santander via chat.
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