Proof of Purchased ISA Product (online application)

Dominiquejones62

Before I get in to my issue I want to say that mistakes have been made on our side (namely, possibly not checking in enough detail when the account was opened, and missing emails because so much bumph was sent). This is the issue:-

In October 2023 I, and my husband, applied for a 2 year fixed ISA on line. A product that was promoted on MSE - it was a good rate and we applied at the same time so we could both take advantage. There were some minor issues in relation to verification for my husband but it was sorted.

We found out this week that what I applied for (and supposedly what my husband applied for was different), even though we did it together. Mine was the 2 year and apparently his was for 1 year. 

We checked the accounts after an ISA transfer in to the account and all seemed well. What we did not notice was the differing time period - which for me is unusual because on the whole I have an eye for detail. But because all the correspondence went to him (and lots of it, including lots of unrelated stuff), he missed an email sent to him last October stating that the ISA had come to an end. We had checked the amount with interest and because it was as we thought after the first year we did not notice that the account had converted. Yes I know a foolish mistake!

After going back through our documentation, we realised that the confirmation message, when we opened the account, made no mention of the product we had applied for. I am left bemused because I do not recall a 1 year deal on that same rate. 1 and 2 year rates are rarely identical.

I now know that we should have checked and double checked but I am still in disbelief. Could something have happened? Could there have been a mistake on the banks side? More importantly how can we find out. There is no history on the account, non of the application process, because it was done on line, tells you what you applied for etc. etc. Are we now obliged to take screen shots of the account to prove something (yes I know you generally can not do screen shots of bank statements). 

Any advise on how to get proof that there was a mistake on either side would be gratefully accepted.

Also does MSE have archive that would confirm the rates at the time (September / October 2023)?

eskbanker

Dominiquejones62 said:

Also does MSE have archive that would confirm the rates at the time (September / October 2023)?

There's the public domain Wayback Machine archive, that has old copies of millions of web pages, including plenty of MSE ones, so, for example, the MSE cash ISA page on 14 October 2023 was:

https://web.archive.org/web/20231014043946/https://www.moneysavingexpert.com/savings/best-cash-isa/

Dominiquejones62 said:

Any advise on how to get proof that there was a mistake on either side would be gratefully accepted.

First port of call would be a complaint to the institution about the missing information on the confirmation, which could then be escalated to the ombudsman if left unsatisfied.

You and/or your husband could also use Subject Access Requests to the institution concerned, seeking copies of the data relating to the application and its acceptance.

ColdIron

Dominiquejones62 said:

Also does MSE have archive that would confirm the rates at the time (September / October 2023)?

It might help if you said who the provider was

flaneurs_lobster

Looking at this as the potential loss of income from the "mistake", presumably your husband's ISA matured into another ISA product a year ago, no doubt at a lesser interest rate than your 2 year product?

Are you able to quantify the amount you have "lost" by not being in a 2 year product? 

If the amount is small it might be that it is not worth the considerable effort required to investigate and prove that a bank has been negligent or incorrect in how the account was created. 

It does sound as if you could have done more verification when the accounts were created, it's usually quite easy to check the details of accounts/products online when they are set up. 

Albermarle

 he missed an email sent to him last October stating that the ISA had come to an end. We had checked the amount with interest and because it was as we thought after the first year we did not notice that the account had converted

Converted to what ?