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

Daytona

GeoffTF said:

They send the payment for me.

I've given them the details and asked them to send it. They haven't.

masonic

Daytona said:

GeoffTF said:

They send the payment for me.

I've given them the details and asked them to send it. They haven't.

You need to follow the correct processes. Either you set up the transaction online or through the app, click through the warnings and accept liability if it turns out the details provided were incorrect, or you phone them and do the same. They do not execute transactions over email or live chat. If you've been unable to proceed online, then you need to phone them.

Daytona

eskbanker said:

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?

Yes & yes.

eskbanker

Daytona said:

eskbanker said:

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?

Yes & yes.

OK, let's try again - what did the instructions state that you should use as the account name when completing the payment details for the CoP check?

xylophone

You have checked through on line banking that the  Virgin account has actually been opened and you have also checked that the details you gave to Santander were correct?

masonic

I think I'm beginning to understand the source of this problem.

allegro120

Daytona said:

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.

My OH opened Virgin ISA few days ago, attempted to fund directly from Santander and the details didn't match.  Cancelled that and sent money to Virgin current account, the details matched and then she made internal transfer from current to ISA.

35har1old

Daytona said:

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.

How long has the Virgin ISA been opened.As I had tried to make a payment from Halifax to another bank and when the check was completed the answer was the account does not exist had no option to continue.Phoned the receiving bank and they said they was sometimes a delay in the account being recognised and to try again the next day
Also the name has to be accurate has to match what is on the receiving account

GeoffTF

Daytona said:

GeoffTF said:

They send the payment for me.

I've given them the details and asked them to send it. They haven't.

What checks did you do? What did the customer services representative say? What reason did he/she give for blocking the payment?

If you give satisfactory answers to their questions, they usually send the payment while you are on the phone, in my experience. (The same representative may promptly call you back before doing that though.) Failing that, they transfer the call to security, who follow much the same procedure. Their procedures change over time, but that how it has worked for me.

You need to have done thorough checking. Look up the bank in the FCA Register. Paste the web address of that bank into the browser. Open an account. Send £1. Check that the money has arrived. You also need to accept that the payment is at your own risk.

VKE

I already have several Virgin accounts but to fund my newly opened Virgin ISA I transferred from Santander £1 directly into Virgin ISA as a test then once this was visible in my ISA I transferred the remaining £19,999  wthout any issues.

When husband wanted to get the Virgin ISA so:
1:He(me) opened a Virgin Current account, went through the requirements for online banking.
2: 2 days later he(me) opened the Virgin ISA; he could then see his ISA on the app
3: He did a £1 transfer from Santander joint account into Virgin ISA
4: As soon as the £1 was visible he transferred the remaining £19,999 from joint account directly into his Virgin ISA all without any issues