Coventry Building Society - Junior Cash ISA as child approaches 18yr

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Charlie-Otter said:

Coventry Building Society Junior Cash ISA as child approaches 18yr

I wanted to highlight an issue we are currently experiencing with Coventry Building Society, to hopefully save someone else the same headache, and see if anyone can offer guidance. Our children both had CTFs, that we moved into Junior Cash ISAs with Coventry Building Society, who were in the Best Junior ISAs list at that time. The process to open them was relatively simple - online application, then we were sent paperwork to sign and return in the post along with Birth Certificates and bank statement, which were then returned to us by recorded delivery.

Our eldest child is now approaching 18yr, so has been sent paperwork to return to transfer Junior Cash ISA into a Matured Junior ISA Account, with details about needing to provide ID documents (passport, driving licence etc) either in branch, or Certified copies by post. 

I contacted CBS by email with a couple of queries about this letter, so we can get the process started in the 3wk before 18th birthday. Firstly the Matured Junior ISA Account is a poor interest rate, so asked if we can instead move the funds to their 5 Access ISA instead. Secondly to query the ID requirements, as their website ID help (link below) states that documents can also be provided via email, if we send a photo of the ID, and a photo of the person holding the ID, but this is not mentioned in the letter. Our nearest CBS branch is 20 miles away, and our child a full-time student, so popping into branch is not an easy option. We do not have Certified copies of any documents, and again to obtain them would mean an appointment and fee to a solicitor or similar. 

Firstly the account type would be possible, but only by completing the paper forms and opening the Matured Account first, and then completing the paper forms to open the 5 Access Account and requesting a transfer?! Annoying that it can't be done online, but not impossible...

Following a couple of emails, and now a phonecall from Customer Services, it seems the ID issue however is not resolvable. They do not use secure upload services such as Hooyu; we absolutely can not send any ID documentation via post or email; and our only options are to go into branch or obtain Certified copies and post these. 

Furthermore, we apparently have no method of retrieving the monies from this ISA Account, without providing the documentation requested, even if we try to move it to another Cash ISA prior to the child turning 18yr! We are obviously going to close the accounts for both children ASAP, and request they are transferred to an ISA with a provider operating in the 21st Century, but was hoping someone might be better placed to advise on how we proceed...and also to warn any other parents of the archaic processes involved if you open an account with Coventry Building Society.

I have already requested this be escalated as a formal complaint, but how can we access this money in the meantime without an afternoon off college/work to drive to a branch. I am also concerned about ISA restrictions, as I thought there was a limit on the number of Cash ISAs you can open in a tax year, so if we open this new account with CBS, and then try to open another elsewhere to transfer the money to, this will not be allowed either?

https://www.coventrybuildingsociety.co.uk/member/help/member-support/identification.html 

Coventry (unlike Family BS) accepts certified copies of passport from your sons teacher. 

Kim_13

OrangeBlueGreen said:

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I'm not sure if this applies for this situation, but bear in mind that ID requirements often change when someone turns 18. Only saying this for you to keep it in mind depending on when you/your child will go in.

This might well be it. When I was under 18 an account was opened with my birth certificate and a recent bill in a parent’s name (with NatWest and Nationwide), but as soon as you’re 18 these items are no longer acceptable. The lists (broadly the same between providers) move to driving licence or passport and any bill/bank statement must be their own. The sooner they can pass electronic ID checks the simpler things will be. Coventry insisted on taking a copy of my driving licence just to update my nominated account (for which I had taken them an original, posted, statement.)

Given that their website lists email as acceptable, I would take a complaint all the way to the ombudsman if necessary (but that will take a long time.) If email is not acceptable, then they need to remove the incorrect information.

OrangeBlueGreen

Given that their website lists email as acceptable, I would take a complaint all the way to the ombudsman if necessary (but that will take a long time.) If email is not acceptable, then they need to remove the incorrect information.

For some reason, in bold it states not available for Child ISAs (and maybe another account). They must be using a different system for those accounts.

Kim_13

OrangeBlueGreen said:

Given that their website lists email as acceptable, I would take a complaint all the way to the ombudsman if necessary (but that will take a long time.) If email is not acceptable, then they need to remove the incorrect information.

For some reason, in bold it states not available for Child ISAs (and maybe another account). They must be using a different system for those accounts.

It says to open a Child ISA, so that would explain not accepting it for transfer to any other Child ISA with them if taken to an extreme, given that such an account needs to be opened first. Emailed ID to open an adult ISA should be acceptable from the 18th birthday, if the problem is not sorted before then. Whether they still refuse to transfer it without certified/branch ID on the other side and whether that is reasonable is another matter. 

Saying that they cannot transfer it externally without the ID feels to me that they are taking things too far, as it’s surely the receiving provider that needs adult ID and would be held responsible for any shortcomings (though due to the recent changes in the age limit, that provider could not accept an application before the 18th birthday.) While providers can ask for whatever ID they want at any time, the customer would expect to be able to take their custom elsewhere if what they are asking for is too onerous because they don’t travel/drive/live near a branch.

Charlie-Otter

OrangeBlueGreen said:

Given that their website lists email as acceptable, I would take a complaint all the way to the ombudsman if necessary (but that will take a long time.) If email is not acceptable, then they need to remove the incorrect information.

For some reason, in bold it states not available for Child ISAs (and maybe another account). They must be using a different system for those accounts.

Thanks for input - that was my take on their ID guidelines too. The only specific exclusions for providing ID docs via email are when opening accounts for children - I am not trying to open a child account (Junior ISA), as we already have one, they are insisting on us "opening" an adult ISA to transfer the Junior ISA monies once 18yr, and the ID guidance on their website specifically states ID can be emailed:-

Passport (UK or foreign) – current, valid and full
Email - Photograph of the original and a photograph of yourself holding the original Passport

Valid (UK) photocard driving licence (full or provisional)

Email - Photograph of the front side of the original and a photograph of yourself holding the original photocard

Charlie-Otter

Kim_13 said:

OrangeBlueGreen said:

Given that their website lists email as acceptable, I would take a complaint all the way to the ombudsman if necessary (but that will take a long time.) If email is not acceptable, then they need to remove the incorrect information.

For some reason, in bold it states not available for Child ISAs (and maybe another account). They must be using a different system for those accounts.

It says to open a Child ISA, so that would explain not accepting it for transfer to any other Child ISA with them if taken to an extreme, given that such an account needs to be opened first. Emailed ID to open an adult ISA should be acceptable from the 18th birthday, if the problem is not sorted before then. Whether they still refuse to transfer it without certified/branch ID on the other side and whether that is reasonable is another matter. 

Saying that they cannot transfer it externally without the ID feels to me that they are taking things too far, as it’s surely the receiving provider that needs adult ID and would be held responsible for any shortcomings (though due to the recent changes in the age limit, that provider could not accept an application before the 18th birthday.) While providers can ask for whatever ID they want at any time, the customer would expect to be able to take their custom elsewhere if what they are asking for is too onerous because they don’t travel/drive/live near a branch.

Thanks for input - that is also my take on their rules. I am trying to get Certified copies sorted via Sixth Form now, but before finding out that this was an option we were looking to open a new adult ISA account (once 18yr) with another provider, one who will accept docs uploaded digitally or emailed (as the majority do!), and then get them to request the ISA transfer, but CBS Customer Services advised that we can not do this as they will not release the funds. In any event we want to move away from CBS, and their prohibitively antiquated admin, or likely to encounter more issues when updating addresses etc for moving away to work/university.

My understanding was that we already provided the necessary docs to open the Junior ISA; if we then open a new adult ISA account elsewhere and provide the new provider with whatever ID docs they require electronically, they have then satisfied all adult ID requirements and the arrangement to then move the monies is between that new provider and CBS direct, in the same way as moving any other bank account? We have switched bank accounts and credit cards etc several times previously, and once the new account is open, there has never been any responsibility on us as the customer to liaise with the old account provider, beyond receiving a letter that says "we are sorry to hear you are leaving, contact us if you did not request this"?

Kim_13

Charlie-Otter said:

Kim_13 said:

OrangeBlueGreen said:

Given that their website lists email as acceptable, I would take a complaint all the way to the ombudsman if necessary (but that will take a long time.) If email is not acceptable, then they need to remove the incorrect information.

For some reason, in bold it states not available for Child ISAs (and maybe another account). They must be using a different system for those accounts.

It says to open a Child ISA, so that would explain not accepting it for transfer to any other Child ISA with them if taken to an extreme, given that such an account needs to be opened first. Emailed ID to open an adult ISA should be acceptable from the 18th birthday, if the problem is not sorted before then. Whether they still refuse to transfer it without certified/branch ID on the other side and whether that is reasonable is another matter. 

Saying that they cannot transfer it externally without the ID feels to me that they are taking things too far, as it’s surely the receiving provider that needs adult ID and would be held responsible for any shortcomings (though due to the recent changes in the age limit, that provider could not accept an application before the 18th birthday.) While providers can ask for whatever ID they want at any time, the customer would expect to be able to take their custom elsewhere if what they are asking for is too onerous because they don’t travel/drive/live near a branch.

Thanks for input - that is also my take on their rules. I am trying to get Certified copies sorted via Sixth Form now, but before finding out that this was an option we were looking to open a new adult ISA account (once 18yr) with another provider, one who will accept docs uploaded digitally or emailed (as the majority do!), and then get them to request the ISA transfer, but CBS Customer Services advised that we can not do this as they will not release the funds. In any event we want to move away from CBS, and their prohibitively antiquated admin, or likely to encounter more issues when updating addresses etc for moving away to work/university.

My understanding was that we already provided the necessary docs to open the Junior ISA; if we then open a new adult ISA account elsewhere and provide the new provider with whatever ID docs they require electronically, they have then satisfied all adult ID requirements and the arrangement to then move the monies is between that new provider and CBS direct, in the same way as moving any other bank account? We have switched bank accounts and credit cards etc several times previously, and once the new account is open, there has never been any responsibility on us as the customer to liaise with the old account provider, beyond receiving a letter that says "we are sorry to hear you are leaving, contact us if you did not request this"?

I wouldn’t be surprised if customer services were advising wrongly and a transfer would go through if requested via the new ISA provider, but obviously there’s no guarantee.