Worst Cash ISA transfer saga ever?

drphila

https://forums.moneysavingexpert.com/discussion/comment/82057506#Comment_82057506

This is nonsense. NSI are subject to the same regulations as any other financial organisation ie formal complaint followed by FOS if unhappy with their final response or no response after 8 weeks.

Google " complain to NSI " for details, contact numbers/email etc

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82092316#Comment_82092316

That's not strictly true as written - unlike other financial institutions, NS&I isn't regulated by the FCA, by virtue of its unique status as a government agency, but its complaints process, including FOS escalation, follows the usual route.

Basispointsniffer

Many thanks for your FWIW Masonic. In line with your 3 Aug observation I had submitted clarity requests and transparency observations to DMB on the first and now only annual review of my investment when I encountered difficulty spot checking their interest calculations, including the non disclosure in rate adjustments of an AIR %, that nomenclature picked up somewhere in the onboarding but as you've observed normally termed gross. DMB's initial responses were inadequate towards dismissive. I eventually received the interest assertion including interest on interest earned/accrued but yet to be credited. Given your FWIW it now seems DMB's own staff don't know/understand their interest MO process. Given these issues, the blizzard of irrelevant to me marketing e-mails and haircuts (see below) I decided not to continue with a too difficult to bother with ("TDTBW") provider, exceptionally so given my investment was a simple cash only ISA.

As you near or are at the FSCS limit the DMB haircut is costing at a minimum £600pa and most probably nearer £1,000pa. That's way too much for a service of questionable use/value or perhaps a contribution to the TV adverts some aspects of which I now consider to be sleight of hand bordering on misrepresentation.