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

Daytona

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.

JGB1955

Are you trying to send the funds to a 'business' account or a 'personal' account?

masonic

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.

eskbanker

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."

But what did you see when you were presented with the CoP verification page?

Daytona

JGB1955 said:

Are you trying to send the funds to a 'business' account or a 'personal' account?

Both personal accounts.

Daytona

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."

But what did you see when you were presented with the CoP verification page?

The name of the bank.

GeoffTF

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.

masonic

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."

But what did you see when you were presented with the CoP verification page?

The name of the bank.

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?

Both personal accounts.

It would be a business account if it was a holding account operated by Virgin Money. Are you sure the 6 digit sort code and 8 digit account number are unique to your ISA? Were you required to enter any details into the Reference field for the transfer?

xylophone

https://uk.virginmoney.com/savings/learn/isas/how-to-top-up-your-cash-isa/#:~:text=If you have a Store,payment quoting your account number.

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 number

For CHAPS1 transfers

Sort code: 08-02-65;
Account number: 50048407;
Reference: Your account number and your name

Was this by any chance a postal or store ISA and you had to proceed as above?

Daytona

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)

eskbanker

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)

Do their instructions make any reference to the name of the account?  Do the above details correspond with what you received/see when opening/accessing the ISA?