ISA transfer funds missing. Trading 212 to Santander

Janiebabie67

Hi all,

Requested a cash ISA transfer on 17th April from 212 to Santander. Went into Santander branch as I had to use the paper form and wasn't sure of sort code. Eventually on 30th April, funds left my 212 account and I have been waiting ever since for them to appear in my Santander fixed ISA. Communication with Santander via app and phone is very slow and not very helpful. Ive been told the transfer was pending and it can take 15 to 30 days to appear. Then i was told it wasnt pending and they were chasing 212 for the funds. A complaint was started, I was told they would investigate, but silence ever since.

During this time, Trading 212 confirmed they had sent the funds and I should contact Santander. 212 app chat is painfully slow to respond to any messages. i was back and forth between the 2 providers. On the 20th May, trading 212 said 'the funds were sent to Santander but unfortunately processed with an incorrect reference number, which is why they have not yet appeared in your account.' They said they will 'rectify this and ensure the funds are correctly allocated to your account as a matter of urgency'. Again, silence ever since and no reply when asked when I am likely to receive them.

I have now also raised a complaint with Trading 212. I am getting more and more worried as time passes, as the transfer was over £40,000.00 (my life savings) and they went from my account on 30th April and I haven't seen them since! I have also, though not as important as the missing funds, missed the 30 day window for transfers into a fixed ISA and an offer for £100 voucher.

Has anyone else had this experience and been without their money and was it sorted eventually?

george4064

I have not personally switched between T212 and Santander. However these things happen. Best thing you can do is to keep on top of both providers, chasing for updates etc. Make sure you keep a note of timeline of events should you need to follow up on your complaint, either with one of the providers or the financial ombudsman.

daveoc22

I have had trouble doing exactly the same switch. Just happened after almost 5 weeks and 212 have only transferred previous years when the form they had showed it should be all—they are poor!.

Back to your problem, if you look on the 212 app go to the link on the bottom that is a circle with an arrow thru it. That is portfolio transfers, go to the outgoing section and then onto documents and it will show you the exact details of where 212 transferred your money to. If you quote those details to Santander it should help them track your money.

Janiebabie67

https://forums.moneysavingexpert.com/discussion/comment/82012850#Comment_82012850

Thanks, I will keep a note of the timeline. I guess I have to be patient and wait for things to be looked into; its the first time I've done a transfer though and at the minute I am wishing I hadn't started this one.

Janiebabie67

https://forums.moneysavingexpert.com/discussion/comment/82013048#Comment_82013048

Thanks for that. I'll give the details to Santander