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HSBC cashback offer
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This was the post (link below) re person told by the complaints handler that no dedicated ISA team.
I was thinking that actually everytime I call, the person who happens to answer deals with my ISA query. Today I called and asked for the dedicated ISA team. I was asked what it was in regard to and cs agent said they would be able to help. Explained numerous calls and I would now like to insist on being connected to the ISA cs manager..." we don't have an ISA cs manager" Asked who was responsible for the ISA team..."we don't have a specific ISA team, we have many cs agents like myself who are happy to help. May I take some details and I'll be happy to help"
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Was your 'positive' experience really that positive though.
Your electronic transfer took a whole eleven working days. Most providers these days can and do complete them in 3 working days or less. Eleven working days for an electronic ISA transfer for a major high street bank - you can forgive small providers like Saffron - is absolutely woeful!!
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I'm planning on spending my cash bonus for transferring to HSBC on therapy to get over the trauma/stress! 😉
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I got an email from HSBC today…
Mr xxxx, an update on your ISA transfer, we are really busy, working on it, etc.
This is the first solid evidence I have that they have received my paper ISA transfer forms which I posted about 5 weeks ago.
They can take as long as they like to get it transferred. As long as it is done before the ISA maturity in about 13 months.
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You just don't know in all honesty do you.
I was told I was being put through (and was also given a number which is one of the zillion 0345s on my mobile) to the ISA team so I have to assume I was.
They could certainly see details of the failed attempt and seemed to have more knowledge of ISA transfers than the general customer support but I'm no further forward with things (If the SECOND attempt was bungled as seems to be the case then they haven't got a leg to stand on imo).
When I read that there IS no ISA team though I'm certainly wondering!
Made my complaint 5 or 6 days ago, just figuring how long I should wait to at least hear some sort of reply.
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Sorry to burst your balloon but I've had similar e-mails and text messages, the money is still where it was 3 weeks ago.
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Ditto. Bog standard mass email. I also had a text of the same ilk on 7th May.
As they say, actions speak louder than words.
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It's not really a question of "do they have a policy". Under HMRC regulations they must backdate interest to working day 16 of the transfer or the day that they receive the funds from your old ISA provider, whichever comes first.
Day 1 starts the moment they receive the completed transfer request form and any supporting evidence required for the transfer, NOT when they get round to starting the transfer.
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So in real terms you will actually be earning interest from both banks from business day 16 until HSBC finally complete the transfer....yes?
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As far as I know, the new provider will only cover the difference between the old rate and the new rate from day 16 if the old provider hasn't transferred the funds yet and is still paying interest. They'll then pay the full amount from the day that the old provider transfers the money.
The intention is that you won't lose out on the new rate if the transfer takes longer than 15 working days.
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