Skipton BS - Maturing ISA

Pensioner5

Has anybody else had problem with SBS closing a  fixed rate cash ISA before it matures, despite having been sent clear instructions to the contrary, and imposing a considerable financial penalty ?
They have admitted their mistake but have already waited almost 2 months and they still have not reimbursed/compensated me. Appalling service. If the boot was on the other foot it would be days not months etc...

flaneurs_lobster

Did they admit their mistake in writing (email or letter)? Did this correspondence give any indication of timescales for reimbursement etc?

I'd have waited a reasonable length of time (say 2 weeks) then made a formal complaint.

Kim_13

Is this a fixed rate ISA with Skipton that is maturing or a fixed rate ISA maturing elsewhere that you have asked Skipton to transfer into them on maturity, and they have done it early? Transfers are requested by the receiving provider so any issues should be raised with them.

Or have Skipton actioned early when you indicated which account you wanted on maturity (an internal transfer?)

Pensioner5

The latter - an internal transfer. They say they'll compensate but their error and would have expected a faster response - unless of course there are thousands of people with the same problem ??!

OrangeBlueGreen

Pensioner5 said:

The latter - an internal transfer. They say they'll compensate but their error and would have expected a faster response - unless of course there are thousands of people with the same problem ??!

Over 2 months is unacceptable. Though that length of time makes me think it must be a widespread problem. Hopefully their goodwill gesture to apologise will reflect this considerable amount of time to put it right.