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Transfer Cash ISAs Discussion Area

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  • sleekachikka
    sleekachikka Posts: 1 Newbie
    edited 1 June 2012 at 3:56PM
    I just been reading this forum to help me decide where to open this years isa and transfer previous years isa's and i get the impression that everyone seems to be going for the highest rate possible regardless of the service they might get from the provider(s).
    The top paying isa's seem to be with santandar and i can totally understand why most will want to tranfer their money to them.
    Two years ago I opened an account with Santandar asnd they lost my money for about two months. This was money that was transferred in from my employers as a salary and trying to get them to sort it out was a nightmare. They literally accused my employers of lying about the transfers. Eventually they bounced the money back into my employers account and I eventually got my money.
    The customer service at Santandar was shocking and I was not surprised to read in the daily mail that many other customers had received the same poor service from Santandar and they were voted the worst.
    Santandar announced that they had recognised their failings and were investing heavily in their customer service departments to improve their service.

    This was two years ago, so attracted to the seemingly great offers of 4% fixed for two years or 3.3% for a year etc I needed to decide whether to give them another bash and open a isa account for this years allowance and also transfer previous years.
    Well I can safely say that after reading just a few comments on this forum they obviously have not sorted out their customer service and i would rather go for a non fixed variable rate of approx 3% than risk them causing even more stress and hassle not to mention the cost of phone calls to their (non) customer service department.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    I keep being amazed with these 1-post members who seem to just be signing up to slag off Santander in one post and then never appear again.

    I am not an employe or shareholder of Santander, just a regular customer of theirs, as well as of many others - Lloyds, Halifax, First Direct, Nationwide, RBS, Virgin and Natwest, and some smaller Building Societies to boost. All of them at times have their problems, all of them have one up on their competitors now and then, all of them are much of a muchness.
  • boobbby
    boobbby Posts: 769 Forumite
    innovate wrote: »
    I keep being amazed with these 1-post members who seem to just be signing up to slag off Santander in one post and then never appear again.

    I am not an employe or shareholder of Santander, just a regular customer of theirs, as well as of many others - Lloyds, Halifax, First Direct, Nationwide, RBS, Virgin and Natwest, and some smaller Building Societies to boost. All of them at times have their problems, all of them have one up on their competitors now and then, all of them are much of a muchness.
    I f you are sure you dont need to draw on your money go for LLoyds FRISA giving 3.7%. You can ad the allowances for this year and next year and transfer in any other ISA you may have.
  • meanscot
    meanscot Posts: 90 Forumite
    innovate wrote: »
    I keep being amazed with these 1-post members who seem to just be signing up to slag off Santander in one post and then never appear again.

    I am not an employe or shareholder of Santander, just a regular customer of theirs, as well as of many others - Lloyds, Halifax, First Direct, Nationwide, RBS, Virgin and Natwest, and some smaller Building Societies to boost. All of them at times have their problems, all of them have one up on their competitors now and then, all of them are much of a muchness.

    I am not an employee of Santander, nor a 1 post member, however I am a Santander shareholder. Also, over the years I have used all of the above mentioned banks, apart from Virgin, to hold my ISA funds.
    I have never experienced the problems with ISA transfers that I have had with Santander and a total lack of help from their Customer Services.
    Even the local Santander counter staff said they were embarrassed by the Santander Customer Services.

    Q. Which bank tops the worst-performing UK bank survey.

    A. ?

    Meanscot :(
  • boobbby
    boobbby Posts: 769 Forumite
    meanscot wrote: »
    I am not an employee of Santander, nor a 1 post member, however I am a Santander shareholder. Also, over the years I have used all of the above mentioned banks, apart from Virgin, to hold my ISA funds.
    I have never experienced the problems with ISA transfers that I have had with Santander and a total lack of help from their Customer Services.
    Even the local Santander counter staff said they were embarrassed by the Santander Customer Services.

    Q. Which bank tops the worst-performing UK bank survey.

    A. ?

    Meanscot :(

    I also found the local counter staff was on the ball. They transfered my ISA to a better rate of interest but when I checked this out with customer services almost a year later they send me a number of emails pointing out I was going to get the low previous rate. I also received a letter pointing out I was going to get the lower rate. My local staff convinced me this was wrong. To cut a long story short I did receive two payments of £50 and £75 for the mis-information mistakes made by Santander customer services.
  • agav
    agav Posts: 48 Forumite
    I just read few posts above about ISA transfers to Santander. And I thought that I was the only one with problems!
    I requested a transfer from Barclays in April. The money left my Barclays ISA on 23 April not to be seen again...
    Santander says that Barclays is not sending them the check with my money. Barclays said the the check was not only sent but also cashed on 8 May. So where is my money, Santander?
    I am really fed up with them now. I called them so many times, and my only phone is a mobile, it's costing me more than I will ever get in interest from my account!
    Someone suggested writing an email to the CEO. What did you put in yours? Is the e-mail address safe? CEO@santander.co.uk
    I just don't want to give my details to any plonkers;).
    Thanks for your help,
    Agav
  • Hi there,

    I've just applied for Satander's 2 year fixed cash ISA and ready to deposit money in. However, I have a slight problem.
    I had my old ISA with Hargreaves and Lansdown, previously as a stocks and shares ISA for a year but left it alone for a year. For this tax year 2012/2013, I decided to open a new ISA as my ISA wasn't doing anything just sitting there as I had sold all my stocks ages ago since the recession (at a lost :cry:).

    Anyway, so I decided to put the money from my ISA into my online saver until I decided what I was going to do with it because at the time, I wasn't sure. Now, I realise that I should have left it in Hargreaves since when I started the ISA Transform form, I realised that this is where they'd get the money from.
    Would they still allow me to transfer the money from my online saver account? I can easily put it into my current account and then put it into the Cash ISA if they only accept cheques.

    I have my login details for my Santander cash ISA to put in new money - can I put in new plus the amount from my old ISA?

    Thanks in advance for any advice - I'm a bit clueless with these things! I remember reading hundreds of articles about ISA's and I'm still a bit lost! :doh:
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Afraid, once you have withdrawn money from an ISA, it cannot be transferred into a new ISA. The point of a transfer being that it doesn't count towards your annual allowance.

    You can still pay up to your annual allowance into a new ISA, but it will count towards your annual allowance. The max you can pay into your Santander ISA this financial year is £5,640.

    Anyway, your HL ISA was probably a Stocks and Shares ISA - - you cannot transfer a S&S ISA into a cash ISA. So it's a bit academic that your money isn't sitting in the HL ISA.
  • Thanks for the swift reply!

    OK, so I will just have to start a new ISA this year.

    You were right, the H&L was a Stocks and Shares ISA. However, before I opened the H&L S&S ISA, part of the amount was from a cumulation of Cash only ISA's for 3 years. I then added a little bit more money into it so that maximum was reached.

    So I guess the lesson here is, never invest or convert your CASH ISA's into a S&S ISA!!!

    I wished I asked more questions at the time but you don't always know what to ask when you don't even know the basics. I'll never get this finance melarky right! :(
  • t0rt0ise
    t0rt0ise Posts: 4,482 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The lesson here is also never to transfer ISA money into another sort of account if you want to keep it as an ISA as you can't transfer it back.
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