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Confirmation of Payee - Santander refusing to send ISA sub to Virgin Money

Daytona
Posts: 72 Forumite


Help!
Santander said -
"I have looked and it appears that the account you are attempting to send the payment to is not registered with confirmation of Payee so we were unable to verify that the payment was going into an account in your name. It appears this is the reason the transaction failed."
It now looks as if I am going to miss the ISA deadline.
Refusing to send it to a smaller UK FCA registered bank, smacks of monopolistic behaviour and I feel the way I've been treated is abusive. What are the FCA rules on this ?
What can I do ?
I've held an account with them and their predecessors for ~40 years.
Good credit record - no reason for them to refuse.
I can't be the only one making an ISA subscription.
They've refused to communicate by email so I'm having to use Chat. The responses take days and I keep getting logged out ever 5 minutes, when trying to respond. I'm speaking with a different person every time and they've started asking irrelevant questions, and ignoring the information I've given previously, just so they can claim they've responded.
Santander said -
"I have looked and it appears that the account you are attempting to send the payment to is not registered with confirmation of Payee so we were unable to verify that the payment was going into an account in your name. It appears this is the reason the transaction failed."
It now looks as if I am going to miss the ISA deadline.
Refusing to send it to a smaller UK FCA registered bank, smacks of monopolistic behaviour and I feel the way I've been treated is abusive. What are the FCA rules on this ?
What can I do ?
I've held an account with them and their predecessors for ~40 years.
Good credit record - no reason for them to refuse.
I can't be the only one making an ISA subscription.
They've refused to communicate by email so I'm having to use Chat. The responses take days and I keep getting logged out ever 5 minutes, when trying to respond. I'm speaking with a different person every time and they've started asking irrelevant questions, and ignoring the information I've given previously, just so they can claim they've responded.
0
Comments
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Are you trying to send the funds to a 'business' account or a 'personal' account?#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3661
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Have you considered phoning them?The end of the tax year is 5th April, so there are still 6 working days to get the money there. Santander certainly does permit payments to accounts not registered with Confirmation of Payee, but you should check whether the account to which you are sending your money really isn't registered, or if it is a holding account in the name of for example Virgin Money. A workaround would be to send your money to another current account in your name with COP verification, then onto VM.It doesn't sound to me like you've received any abusive treatment from Santander. I suspect they have been polite throughout your exchanges, but if not then you should complain about that.2
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Daytona said:Santander said -
"I have looked and it appears that the account you are attempting to send the payment to is not registered with confirmation of Payee so we were unable to verify that the payment was going into an account in your name. It appears this is the reason the transaction failed."1 -
eskbanker said:Daytona said:Santander said -
"I have looked and it appears that the account you are attempting to send the payment to is not registered with confirmation of Payee so we were unable to verify that the payment was going into an account in your name. It appears this is the reason the transaction failed."0 -
I have made dozens of payments to accounts that failed Confirmation of Payee from my Santander personal current account. Many of these payments have been £50K+. Large payments to new accounts are usually blocked. No problem. I phone the bank, and tell them all the checks that I have made, and confirm that the money is being sent at my own risk. They send the payment for me.
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Daytona said:eskbanker said:Daytona said:Santander said -
"I have looked and it appears that the account you are attempting to send the payment to is not registered with confirmation of Payee so we were unable to verify that the payment was going into an account in your name. It appears this is the reason the transaction failed."The CoP verification page usually gives you an outcome, e.g. "account details matched", "account details nearly matched", "account details did not match", "could not check details for this account".Daytona said:JGB1955 said:Are you trying to send the funds to a 'business' account or a 'personal' account?1 -
If you have a Store and Postal Cash ISA, you can add funds to it by telegraphic transfer (CHAPS1), or other electronic means (Faster Payments Service, BACS, Standing Order) by asking your bank to send us a payment quoting your account number.
For FPS, BACS and Standing Order transfers
Sort code: 08-61-15;
Account number: 00000515;
Reference: Your account numberFor CHAPS1 transfers
Sort code: 08-02-65;
Account number: 50048407;
Reference: Your account number and your nameWas this by any chance a postal or store ISA and you had to proceed as above?
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It's an online only account (recommended on the MSE ISA page) - Defined Access Cash E‑ISA Issue 25
It looks like a unique account in the email & letter VM sent explaining how to transfer money in, using Faster Payment.
Sort code 08 60 64
Account number 12345678
(no reference required)0 -
Daytona said:It's an online only account - Defined Access Cash E‑ISA Issue 25
It looks like a unique account in the email & letter VM sent explaining how to transfer money in, using Faster Payment.
Sort code 08 60 64
Account number 12345678
(no reference required)0
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