I overpaid into an ISA. How long should my money be in limbo for?

 I opened an RBS cash ISA recently. On 26th October I deposited in £3 from an external bank account just to check that the bank details were correct.  
Once that went in, I then deposited in.. £19,999.   
The money left my original account, and didn't land in the ISA.

Stupid I know, my mistake I had overpaid by £2 into the ISA account as the maximum is £20k. I contacted RBS the day later. They said."yep, we can see it, it will be sorted in 5 days".

After 7 days I called up again as it still hadn't arrived, they then said, "Oh it will be in by the end of the day".

..but I wasn't. 

Next day I called up, and get told "oh it will get sorted but we can't put a time frame, may be a week or two".

Is this normal? or am I being fobbed off? Any advice?
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Comments

  • mebu60
    mebu60 Posts: 794
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    Ask them to confirm they will credit the £19997 from the date of the original deposit (of the £19999) as they've been holding on to your money. As long as they do that you won't have lost out. Though it is poor that they are taking so long. Can't be that difficult to add to the ISA and return £2.00. 
  • mebu60 said:
    Ask them to confirm they will credit the £19997 from the date of the original deposit (of the £19999) as they've been holding on to your money. As long as they do that you won't have lost out. Though it is poor that they are taking so long. Can't be that difficult to add to the ISA and return £2.00. 
    There's a chance that they will return the full amount rather than the £2
    I am not sure about  this but RBS and Nat West may use the same team to process payments and if that's the case you may be in for a long wait as Nat West has a large back log since The ISA launched in August that was paying 5.9%.ISA transfers are still only being added to the accounts now.
    Did you complain by email if so you will receive a email setting out the time frame for dealing with you complaint you could receive  one stating it could be upto 8 weeks or one saying 35 business days.
    If it is anything like Nat West you will spend hrs on the phone but you will never get speaking to the person assigned to your complaint if it has even got that far.
    If you have received the email acknowledging you complaint it will have a ref no and a 0800 number to phone but on calling this your are also required to have a 4 digit ext number for the person dealing with complaint of course you Don't have this so your call is redirected 


  • 492800
    492800 Posts: 218
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    Forumite
    Good advice, thanks to you two.. i have just started a complaint and am requesting that Interest is to be paid from my original pay in date. now to sit back and wait
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