A & L Direct ISA 4 - severe backlog!

funkyhitman

MPH80 wrote: »

In fairness to A&L - the transaction is recorded as being the day after Egg sent the cheque - so they have done their work there.

This is where I am not impresesd. The cheque, just like mine, may well have been received the next day whereupon A&L record this. The problem is, they have not backdated the interest. I thought that they were going to do this?

My online account states the funds were received on the 23/05/08. This must mean when the cheque was received and recorded. They cannot be claiming the funds were actually transferred on this date because they said themselves they have had a huge backlog. The funds actually showed up in my account yesterday 13/06/08 so I think the cheque was only processed a few days before this which leaves me with about 18 days lost interest of just under £10. I know interest was not applied because the amount paid into A&L is the same as my closing NS&I balance.

Is it worth complaining for this amount of money? I don't think I can be bothered but I am just very annoyed at the way they have dealt with all the transfers...some are getting backdated interest and others are not.

Isacol

Still no sign of my money! Having received a letter from their Customer Relations dept last Friday, I rang them that afternoon - basically can't do anything (even though l only need about £50 - £75 and furthermore have banked with them since 1979!) as they don't record cheques when they come in "as that would delay things further"! This means I cannot instantly access MY money that they have had for over a month! - backdating interest is fine (and is being done as a matter of course on a goodwill basis) but what about money needed now?!! Call back from Manager confirmed this - what a shambles caused by their own misjudgement of public response and mismanagement since.
Interesting to note I don't see any probs from people who took out the similar Abbey Isa - almost an identical product at nearly the same time - so perhaps that should have been my choice?
Anyone else waiting to withdraw any money?

obsessed_saver

No.1cashcow wrote: »

Amazingly..within half an hour of posting this, I had email from A&L to say transfer is now complete and in account! I wonder who's reading these posts....

I doubt there's any relation to the posts... as they wouldn't know who you are!

MerlinSurf

Glad it's not just me! I have just spent another hour on the phone to A&L & my old provider, Yorkshire BS, trying to find where my ISA transfer cheque is, which left Yorkshire BS on 13 May, aiming for my (already open) Direct ISA. A&L say they have now brought in extra staff to cope with backlog, but are working on 30 May cheques! Have had to get them to ask Yorkshire to stop cheque & reissue (Yorkshire have to have the request from the new provider, not the customer, contrary to what I was originally told by A&L!). A&L said originally that the Yorkshire were liable for the interest lost between 13 may and the date they receive the new cheque, but this of course was denied by Yorkshire (rightly I assume) and A&L now say that they will 'sort out the interest' when they receive the new cheque! Maybe by the end of the year it'll be in my account.....