Longest Isa Transfer Time Money In Limbo?

haddock22

ooops forgot to namecheck alliance and leicester as the villians in my previous reply

Sapphire

haddock22 wrote: »

same position as others here where i transferred my nationwide isa on 11th may and still not showing up in my new isa.complete fiddle with someone gaining all the extra interest somewhere.is it worth raising with the fsa?

As just posted on another thread (and previously on other threads), I have an incorrectly transferred ISA from Kent Reliance with Nationwide (from 23 March), yet have heard absolutely nothing from Nationwide - only know about the incorrect transfer from looking at my accounts online.

Another ISA transfer from NS&I was sent to Nationwide on 12 May, yet again I have heard absolutely nothing from Nationwide. The money seems to be in limbo somewhere.

I have written strong letters to several individuals at Nationwide, and have not had the courtesy of a single reply. This from a customer who has substantial savings with Nationwide! I have completely lost trust in Nationwide, and have no good will left towards them.

I am also now deeply suspicious of Nationwide's lack of response to its customers - it's something that has never happened to me before with any financial company - and am thinking this may be some kind of a scam. Perhaps complaining to an outside body might unravel this appalling state of affairs?

amiehall

i'm having trouble with an abbey isa. it's been 6 weeks since i applied and i haven't heard a peep out of them. i can still look at my old isa online so i can assume they haven't taken the funds yet.... i have money earmarked to go in a new isa but obviously i can't move it until it's opened, i don't want to risk committing some kind of fraud by paying it into my current isa while it's in the process of transferring.... :S

mobile10

Nationwide sent my ISA transfer request form to Abbey Nat on 3rd March.
Abbey Nat confirmed transfer cheque sent to NW on 4th April.
Managed to get through to NW yesterday and was told to wait a further 2wks for transfer to be completed

IF I receive passbook from NW in two weeks , the whole process will have taken from 3rd March to 20th June

Unbelievable :mad:

Baldur

mobile10 wrote: »

Unbelievable :mad:

Not really, if you look at their past form or here.

See also ISA Nightmares at Nationwide, halfway down the page.

mobile10

Thanks Baldur...I really feel depressed now. The dates on those links were last Sept (2007)...surely NW should have sorted the problem by June 2008 ?

Wish I had never started with the transfer but ,in theory, it should be a simple thing to do !!

Baldur

mobile10 wrote: »

The dates on those links were last Sept (2007)

They certainly didn't take heed of last year's lesson did they?

If I recall correctly, there were still backlogs of NW ISA transfers being reported in the press in November!

Speculator

My mothers Nationwide internal transfer (Portman to 2 yr Fix 6.15%) has taken 11 weeks so far!

fmoney

Take a look at this link

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=424017&in_page_id=7

It states there

"Incredibly there are no sanctions for this appalling administration. HM Revenue & Customs has woolly rules saying the transfer should be completed within 30 days but nothing can be done when these rules are ignored."

I have just sent off my first complaint letter to A&L. Looks like you have to wait 8 weeks before complaining to the financial ombudsman after making your complaint.

The ISA system is a joke.

wooders

Makes you wonder whether it is all worth it in the end. I'm transferring from natwest to A&L and all in all I am now on day 60 today, the money is shown as gone from NW but due to incompetence by both banks, I'm still not showing. I also made an official complaint with NW demanding a response within 7 days, that was about 3 weeks ago. Also told by A&L re 9th May WHY?

So inconclusion - HAS THERE BEEN ANY SMOOTH, QUICK, NO HASSLE transfers done by anyone ???

Come on Martin, get this one sorted.