Sharesave maturity issues

Hayley1512

Hello,
My husband has a sharesave account that matured on 1st September with Signalshares. He opted to closed the account and take back what he had put in. He has done this for other share saves and got the money within 5 days. However, he is still awaiting. The account has been closed but no money is forthcoming. His instructions were for it to be transferred into his bank account, with details provided but we have been advised that this was ignored and a cheque was issued and sent 2nd class post. This was supposed to have been sent on 1st October. Surely if this had happened the cheque would have been received now? We are very worried about what is happening with this money. Is there anything we can do? Report the issue to anybody? We feel we are just being fobbed off every time my husband rings for an update. Thanks for any help 

CliveOfIndia

First off, have you checked that they hold your correct address?

If so, give them another call and ask them to confirm when the cheque was posted, and to what address.  If it was sent to the correct address, and it was posted more than about a couple of weeks ago, ask them to issue a replacement cheque (they should be able to easily stop the original one and issue a replacement).

If you still get no joy, raise an official complaint via their internal complaints process, you can then escalate to the FOS if this still doesn't resolve the issue within a reasonable time.

Hayley1512

Hi, yes all details are correct. They have taken over the account for YBS and just keep fobbing us off saying it’s a legacy account and YBS are stalling. My husband has spoken with YBS and been advised that everything has been sent to the company and they had been advised that all employees had requested a cheque, which was incorrect. We just don’t seem to be getting anywhere and I thought there were timescales that they needed to adhere to. If we were selling the shares I could understand the delay but we’ve closed the account and taken money back. This usually only takes days