Application form problems opening a Nationwide fixed rate ISA

edda

Phoned local branch today and was told there was a massive backlog at the ISA transfer centre at Nationwide - something to do with it being 'a new tax year'!

Was given the info that the branches have the same phone number to ring and the current queue for answering is about 20 minutes. Plus then up to 20 minutes more before they can find an application in amongst all the others.

Aparently, they date stamp the applications as they arrive and then ....?

bristolleedsfan

edda wrote: »

Phoned local branch today and was told there was a massive backlog at the ISA transfer centre at Nationwide - something to do with it being 'a new tax year'!

Nationwide BS and ISA delays go hand in hand, the only thing that changes are the excuses. :laugh:


http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=423189&in_page_id=7

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=424694&in_page_id=7

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=425696&in_page_id=7

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=429825&in_page_id=7

john_s_2

Quick update on my situation. To recap I'm transferring in two ISAs and submitted application in mid February. Received letters from old providers cheques had been sent within a couple of weeks.

Received statement showing one cheque had been cleared in early April. Today I received the certificate of investment for that same cheque!

Second cheque still not acknowledged but my previous post explains more about that.

I read through those stories linked to above - I cannot believe NW have ever opened accounts within five days. But those are the very words quoted on the compliment slips they sent me in February. Not "we will aim to open..." or "endeavour to open..." but "we will open...".

What particularly annoyed me about those stories was where they were blaming other providers being slow to send the cheques. That is absolutely disgraceful. Be a man and admit your own mistakes.

They're different alright but they should be thoroughly ashamed of themselves.

edda

Got an acknowledgement letter today for application made on 22nd April.

Nationwide says they are now applying for the funds from my current provider.

Milarky

edda wrote: »

Got an acknowledgement letter today for application made on 22nd April.

Nationwide says they are now applying for the funds from my current provider.

That sounds 'about right' sadly. Nationwide are taking advantage of the 'rule' that says there is no rule on the time to commence an ISA request. They arrange the workload to suit themselves. The only department in Nationwide which does have to pay regard to the 30 days rule is the one dealing with transfer out requests. Obviously they can move a few extra staff into this department to keep their response times under 30 days from the permanently 'go-slow' section next door dealing with transfer in requests.

[Don't you just luv the FSA!]

david78

I applied to consolidate three of my Nationwide ISA accounts into a single Fixed rate account on 6th May. On 21st May the three accounts were credited with interest and closed! (total is about £14,000) I have had letters from Nationwide confirming the closure of two of these. But so far, I have had no confirmation about the new Fixed rate account!

Sapphire

JamesPond wrote: »

Just an update, Ive received my certificate today, so in summary.

5th March, sent forms to Nationwide
10th April Kent Reliance sends funds to Nationwide
6th May Received confirmation from Nationwide account is open, with interest backdated.

Lucky you.

I've already posted about Nationwide's shocking service before, but in my case, in a nutshell:

23 March: Applied for transfer from Kent Reliance
16 April: Kent Reliance send funds to Nationwide
12 May: Have heard nothing from Nationwide, but notice from my online accounts that Nationwide have (incorrectly) added the KR funds to an existing ISA FRI Bond, dated back to September 2007.
Two Weeks Ago: Complain to local branch (after making phone calls and holding on listening to stupid music for 15 minutes), who say nothing to do with them and write note to department dealing with ISA transfers.
25 May: Still have not received any confirmation from Nationwide.

I am SO angry. :mad: I am having to waste an enormous amount of time (and worry) on this, and Nationwide are completely incompetent. On top of this, I have also arranged for my NS ISA to be transferred to them, and NS have confirmed that the money has been transferred, yet zilch from Nationwide. :mad:

NATIONWIDE: PROUD TO BE DIFFERENT. What a joke. . .

pazbhan

I filled in a transfer form to have my Isa with the West Brom transferred to Nationwide and this was handed it in at my local branch on April 5th. Despite several phone calls to both of them to get this resolved I am no further forward. Nationwide are saying that it could take up to 60 days. In the meantime the rates could be changed which nullifies the whole reason for moving. I wonder why I would anybody would want to bother with this aggro.

Does anybody know an email for Nationwide that I could send these complaints to? The higher up the better.

john_s_2

pazbhan wrote: »

I filled in a transfer form ... on April 5th. Nationwide are saying that it could take up to 60 days.

60 days?! What I'd give for 60 days. Mine went in in mid Feb and am still waiting.

What I'd also give for an honest answer for how long it will take. I've always been told to give it another two weeks when I ring up. I'm next due to call this Wednesday.

Milarky

john_s wrote: »

60 days?! What I'd give for 60 days. Mine went in in mid Feb and am still waiting.

What I'd also give for an honest answer for how long it will take. I've always been told to give it another two weeks when I ring up. I'm next due to call this Wednesday.

(Oh dear, this thread is starting to resemble the four Yorkshiremen sketch)

http://www.youtube.com/watch?v=HSQeMBzHR0o&feature=related
(original version..Luxury!!)