Nationwide ISA

john_s_2

01793 is a Swindon number. I made a written complaint as per their page here:

http://www.nationwide.co.uk/contact_us/making_a_complaint/procedure.htm

And the address is for Northampton. I only wrote last week so I haven't had any acknowledgement yet. It says they will "provide a final response on behalf of Nationwide within 56 days". The way things are going I'd be very surprised if everything is sorted by then!

I received the form I mentioned in my previous post on Thursday. I completed it and handed it in, with a covering letter, to the branch near where I work on Friday. I got a stamped photocopy as proof (or at least, evidence) that I'd given it to them.

RockDoctor

I applied to Nationwide in April to transfer two existing ISAs to their Fixed Rate ISA. I received letters from Lloyds TSB and Abbey to say that they have received notification from Nationwide to transfer the monies, and the cheques were apparently sent on the 8th & 9th May.

I contacted Nationwide at the end of May, as I still hadn't heard anything from them, only for them to say that they had received the cheques (the last cheque was received on the 22nd May) but that the account hadn't been opened as yet. Now on the 25th June, and still no word from Nationwide re the account. They promised that the interest will be backdated to the date they received the second cheque and the account will theoretically be opened from that date, but I won't believe it until I see it.

Nationwide ISA centre don't want to help at all, and they seem to want to keep communication to an absolute minimum! Very poor customer service, and it doesn't bode well for transferring monies out of the account at the end of the fixed term...

Martin, if you're reading this thread, can you have a word in the ear of the banks re the unnecessary delays for ISA transfers once you've sorted out the bank charges issue...?

john_s_2

I do believe I am nearly there! I have just come off the phone to dear old NW and they have confimed they have received my application form!!

Albeit not the form I gave in on 20 June, but the form I posted to them on 02 June (which they claimed to have not received). They received it on 19 June.

And the guy I spoke to confirmed they still have the cheque from my previous provider (I thought I'd best check!!) and that everything looks in order with my application and they can now process it.

When I asked how long it would now take he started talking about a backlog. I reminded him that I first applied in February so surely I should be at the top of the pile by now? He confirmed this was the case, and that I should receive my certificate by next Thursday.

I shan't hold my breath but at least, after four and a half months, they finally have all the required paperwork.

Marvellous :-)

undercoat11

Hi Everyone

Just a quickie to let you all know that my ISA has now been opened - it all happened quickly after my stroppy letter to them. I haven't had a reply from the NW to my letter, but I have had notification of my account being open via a Bond thingy and it is now showing on my internet accounts page. So it took from 30 April until about 25 June, and I wasn't even involving any other building society only the NW!

Sapphire

Finally, both my ISA transfers have been sorted out. The one from March, which was incorrectly transferred into an existing FRISA, is now in its own account.

After writing to several senior figures at Nationwide, I received a long letter of apology from Nationwide, plus a small cheque with compensation for the error.

So that is that sorted out - a relief.

Nick_C

My transfer from NS&I to Nationwide took about 10 weeks, but Nationwide backdated the account to the date of the cheque from NS&I, so no loss of interest - in fact no loss of anything. Yes its slow, but so what? Its a nest egg tied up in a long term savings account that I have no plans to withdraw from in the foreseeable future, so not having access to my money is really not an issue. 6.15% tax free fixed for 2 years was obviously a fantastic deal, and they must have been inundated with applications. What's the point of adding to Nationwide's costs by complaining? Its "our" company, so its in our interests to keep the costs down. Poor customer service, definitely, and an acknowledgement of the applications may have saved them a lot of grief and cost, but who cares if they are the LIDL of the banking world, as long as the product is good value for money!

john_s_2

The only indication I had from NW how long it was going to take was a compliment slip saying five days. When that soon passed I realised it was going to be longer!

But after I first phoned them they said it would be another two weeks. So I took their word for it and didn't contact them for two weeks. Then they said it would be another two weeks.

If they'd have said, "Oh, it'll be three months," then I'd have left it three months. Then of course, I had the fun and games of trying to submit the right application form. This has been outlined in my earlier posts.

All along I've consoled myself that as this is a year's fix that it doesn't really matter how long it takes. But when you're beating your head against the wall because they've sent you the wrong form, told you to send it in, it will be alright, then two weeks later they tell you they can't accept it as it's the wrong form, tell you to pick another one from the branch, then find it they don't stock them in the branch...

... I'm sure you get the picture.

bristolleedsfan

Nick_C wrote: »

. 6.15% tax free fixed for 2 years was obviously a fantastic deal, and they must have been inundated with applications. What's the point of adding to Nationwide's costs by complaining? Its "our" company, so its in our interests to keep the costs down. Poor customer service, definitely, and an acknowledgement of the applications may have saved them a lot of grief and cost, but who cares if they are the LIDL of the banking world, as long as the product is good value for money!

10/10 to those who have complained. :T

People have every right to expect Nationwide BS to confirm to them that they have received transfer funds from the previous provider rather than having to wonder about it, make phone calls etc, dont take my word for that, keeping transfer in applicants updated is an apparent public promise that Nationwide have made. ( 29 01 08)

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

"Nationwide says it has started a process this month that will keep customers up to date with the progress of their Isa application."

Only time will tell if 6.15% over two years is a good deal, atm its topped by Halifax PLC who unlike Nationwide BS have shareholders to pay and " bubbly to buy for its shareholder meetings"

http://www.halifax.co.uk/savings/personalrates.asp#Fixed_rate_Halifax_ISA_Saver

Happychappy

Nick_C wrote: »

My transfer from NS&I to Nationwide took about 10 weeks, but Nationwide backdated the account to the date of the cheque from NS&I, so no loss of interest - in fact no loss of anything. Yes its slow, but so what? Its a nest egg tied up in a long term savings account that I have no plans to withdraw from in the foreseeable future, so not having access to my money is really not an issue. 6.15% tax free fixed for 2 years was obviously a fantastic deal, and they must have been inundated with applications. What's the point of adding to Nationwide's costs by complaining? Its "our" company, so its in our interests to keep the costs down. Poor customer service, definitely, and an acknowledgement of the applications may have saved them a lot of grief and cost, but who cares if they are the LIDL of the banking world, as long as the product is good value for money!

What a strange attitude you have to your finances ? This shower would learn a lot of lessons from a far more proficient and competent financial institution such as the Bank of Zimbabwe.

What about the £7200 transferred from the E-saver into the flex account to fund the 2 x cash isa's I have been attempting to open since going into branch on 10th April and they still have not opened. NW doesnt pay interest over £3000 unless you feel 0.10% is comparable to the 5.05% frpm E-saver, and they have had £7200 since 9th April.

Letters sent to them only attract a bland stock reply, phone calls to their "ISA team" dont get answered or you wait 40 mins or so on an 0845 number and then dont get answers.

To have an "It will all work out in the end" attitude is interesting to say the least. This shower shouldnt be allowed to advertise and draw people in with their advertising campaigns, which they clearly can't deliver, their customer service once they have your money, is more akin to some of the financial institutions in Barcelona. And the ISA support team doesnt do what it says on the tin.

john_s_2

I have finally received my certificate for the ISA I applied for on 12 February. Hurrah!

The transfer in cheque must have been dated 25/02/2008 as that's when it matures. (For the record they never said they were waiting for the cheque.)

One slight concern however... The amount is exactly the same as was transferred in. My other FRISA I opened with NW (another transfer in) had the interest paid to 05 April 2008 included in the amount on the certificate. This one has no interest added. I'd have thought this would have been calculated automatically? I make it about £35 that's due.

So it seems at least one more phonecall is required... Shall post back with the result.