Nationwide ISA

losthour

I had a letter on April 30th from Nationwide saying they would request a transfer from my current ISA at Abbey and it would be opened in 40 days essentially...

Heard nothing and beginning to get annoyed. Have sent letter back last week but sounds as though others have been waiting much longer!

john_s_2

My saga continues. Just come off the phone to them (16 minutes on hold to speak to someone and a further six minutes on hold while she investigated).

They ommitted to add the interest due from the start date in February to 05 April. She couldn't explain how this could have been missed (a fundamental principle of a savings account I'd have thought?) and apologised. She is 'sending a message' to the team that deals with this. They presently have a turnaround of 28 days.

Applied 12 February. Still waiting for it to be complete on 03 July. Is this a record? I shall of course repost when there's any developments.

My written complaint should have been dealt with by 15 July according to the letter I received a couple of weeks ago.

astock

been calling nationwide every two weeks since mid may and get flogged off with same s*** saying wait two more weeks. was told something different last friday when they said they have a massive backlog (not my problem ya? i care for my money what does nationwide give for that eh! peanuts?) hope nationwde sorts its house out because this is affecting thousands of people (yes believe me) and it is causing undue stress to everyone including myself, after all it is our hard earned cash ya?

is what nationwide doing legal? can they hold savers at ransom like this?

Message for Martin, isnt there anything that all these fellow people and myself can do legaly about this issue with Nationwide?

Happychappy

astock wrote: »

been calling nationwide every two weeks since mid may and get flogged off with same s*** saying wait two more weeks. was told something different last friday when they said they have a massive backlog (not my problem ya? i care for my money what does nationwide give for that eh! peanuts?) hope nationwde sorts its house out because this is affecting thousands of people (yes believe me) and it is causing undue stress to everyone including myself, after all it is our hard earned cash ya?

is what nationwide doing legal? can they hold savers at ransom like this?

Message for Martin, isnt there anything that all these fellow people and myself can do legaly about this issue with Nationwide?

Agree 100% the Nationwide really are totally incompetent, I would rather invest with the bank of Zimbabwe then these fools, they cannot even open a new cash ISA when I took a cheque in to my local branch on 10th April ? two months plus later, on 15th June they sent the same cheque back thanking me for choosing the Nationwide and asking me to call in to my branch to open it ????

I called in the branch with the application form and the cheque in the first palce, who do they think delivered it ? the tooth fairies.

This is not a professional banking set up, it's a total joke. I have written to them, left messages on their online banking system and telephoned there 0845 helpline and still not one inch further forward, a total shambles of an organsation.

bristolleedsfan

Should have taken these steps some months ago IMO. :rolleyes:


http://business.timesonline.co.uk/tol/business/money/savings/article4286006.ece

Milarky

Nationwide believes the ISA system is outdated and is calling for improvements to be made to facilitate swifter transfers and improve the customer experience. The Society has written to the HMRC and intends to work with the Government, industry and regulators to bring about change and improve the situation.

http://www.moneyextra.com/news/news-nationwide-puts-040166.html

Ha, ha, ha!! (Why didn't they do this on Friday so they could talk about it on Moneybox?)

john_s_2

Nationwide believes the ISA system is outdated and is calling for improvements to be made to facilitate swifter transfers and improve the customer experience. The Society has written to the HMRC and intends to work with the Government, industry and regulators to bring about change and improve the situation.

What bit of the current ISA system, that is outside of NW's control, is responsible for their woeful service? I've read the articles and I accept they have been inundated. But it does not explain nor excuse the shocking experiences I've had, outlined above in this thread.

bristolleedsfan

john_s wrote: »

What bit of the current ISA system, that is outside of NW's control, is responsible for their woeful service? I've read the articles and I accept they have been inundated. But it does not explain nor excuse the shocking experiences I've had, outlined above in this thread.

I think they want more of the transfer system to be done electronically rather than by post.

OfficeSpace

I think i was told that some other countries do similar sort of transactions through a central point. Maybe you could make a mint setting up a company capable of handling the industries ISA transfers?!

DavidRossitter

Reading this and other threads it looks like I am not alone either on this. But to register I am another less than happy customer. Accept that April can be busy but July with no update on where it as is really not on.

Submitted an ISA transfer to NW at start of new tax year and despite chasing via their message system just get bland responses to specific questions so have no idea where I am in the process. They suggested calling and their call centre just hangs off.

Not sure what else to do but makes a mockery of the transfer process. I have been with NW for 25years and to date they have been fine but this is a bit of shambles....

David