Abbey Monthly Saver Account - WARNING !

deemy2004

My wife setup a monthly saver in Sept 04

Well, she filled in the forms, including the standing order form which was duely processed in Oct 04 and on the account with the first payment to go out of her Halifax account on the 20th of Oct 04.

All appeared to be well !
The payment went out on the 20th, but yesterday ! on checking the account the money came back from Abbey !!! i.e. it was rejected for some reason, maybe a wrong customer ID ?

Anyway called up Abbey and they say they never recieved the money so they say to get in touch with halifax,

Halifax say that they definetly did process the standing order, and that the money went out of the account and THEN came back. They checked the S/O ref and it had an extra digit so we set up another standing order to correct the situation.

Call abbey and explain and arrange for cash payment, they say its okay but you never know !!!

So do you think this is Abbey deliberatly trying to mess things up so that they don't have to pay high interest rates ?? As the S/O was setup BY THEMSELVES rather than by my wife.

Deposited £500 today so that the money is in the account every calender month though now we breach their terms for the account. We will be doign a letter to abbey manager explaingin the situation politely but if they start messing us about I'm off to the FSA !!! and elsewhere ! To think were having to waste so much time on something that should be straight forward !

Has anyone experienced this with Abbey ?

dunstonh

So do you think this is Abbey deliberatly trying to mess things up so that they don't have to pay high interest rates ?? As the S/O was setup BY THEMSELVES rather than by my wife.

Cant blame abbey for this one. The receiving bank cannot set up the standing order. The paying has to.

So the Halifax is to blame. Unless of course the mandate that was sent to the Halifax had the wrong number on it. In which case you blame the person who completed the mandate.

You can ask Halifax for a copy of the mandate to verify the information on there. If the number on the mandate is correct, then place your complaint with Halifax.

deemy2004

Thanks !

I'll request a copy of the standing order mandate from halifax, and take it from there

cloud_dog

Sometimes mistakes just happen

cloud_dog

deemy2004

Yeh

But its THEIR mistake ! , though we pay the price !

TykeUK

The same thing happened to me. The standing order on my Lloyds TSB account was set up with the last number before the three letters at the end was missing.

I only noticed when the money was returned - luckily it was in time for me to sort it out.

deemy2004

No

Do you have an abbey fixed rate monthly saver ?

deemy2004

The same thing happened to me.  The standing order on my Lloyds TSB account was set up with the last number before the three letters at the end was missing.  

I only noticed when the money was returned - luckily it was in time for me to sort it out.

yeh it would be convenient for abbey to have the account void as a monthly saver from the 1st month but not tell the customer until the anniversary hence pay less interest

BenL

My fixed rate monthly saver was set up fine with no errors and payments have been going in fine.

Its a good deal.