Bank closed ISA in error

granta

Sorry to hear of your loss.

I don't have experience of ISAs related to probate and any additional complexities.

However, I just wanted to share that a couple of years ago, a bank mistakenly transferred out funds from my ISA to an unwrapped account and closed the ISA. I had not given any such instruction. Once I let them know, they reversed the action and sorted it out with HMRC, put the money back into the ISA and then proceeded with an ISA transfer out. They also compensated me for their error.

So it would be better to raise a complaint. Once you do this, they have set time limits in which they have to respond and carry out any remedial action. It will also be overseen by a complaints team who are used to dealing with mistakes so it doesn't matter what the customer service person says to you on the phone as it may not be true. In my years of using banking services, I have experienced various mistakes and nearly all have been rectified, including the ISA one.

xylophone

With regard to his pension, are you sure that you need probate to access it?

With regard to APS, I wonder would it be worth considering transferring the APS from NW to NS&I now so as to move the money out of  NW and then adding the NS&I APS after probate?

https://www.nsandi.com/products/direct-isa

You could call 08085 007007 to enquire.

marymck

Thanks Granta. That's really good to know. The bereavement team said they would call me back tomorrow, but I don't think I could trust anything they say now. I have lodged an official complaint. 

And thanks xylophone for the suggestion about transferring to NS&I. I will look into it. I had thought it would be smoothest to leave the ISAs in place until after probate when i could get all my ducks in a row. But Nwide have scuppered that.

The drawdown pension people asked for a copy of the will and I had to complete a questionnaire to help them decide if they would require a grant of probate. I'm assuming they will but hoping they won't. They've not been exactly speedy.

xylophone

The drawdown pension people asked for a copy of the will and I had to complete a questionnaire to help them decide if they would require a grant of probate. I'm assuming they will but hoping they won't. They've not been exactly speedy.

Usually such a pension would pass to the nominated beneficiary/ies  and not via a will, but there may be circumstances specific to your situation. 

As for the time taken by the administrator, judging by many other posts on the subject of accessing a pension, your experience is not at all unusual.