MSE_Wendy wrote: »
Please let us know...
*the name of your bank Alliance & Leicester
*if your bank does not tell you (or it's really hard to find) the interest rate or product name of your account on statements; I had written information stating my ISA would get a bonus payment - however, this has been overruled and it now earns 0.2%.
*other issues you've had with an ISA in the last few years When I rang to query the interest rate, I got a young woman who insisted that if I wanted to transfer my ISA to another provider, she would have to have details of a nominated bank account to send my money to, then I could put it into another ISA fund. Even I know that doing this would lose me my tax-free status on that money, and she was a bank employee!! :eek:
OldBrain wrote: »
Towards the end of February 2008 I decided to transfer my Cash ISA from Bradford & Bingley to Newcastle Building Society to take advantage of a higher interest rate. On the 18 March I received a letter from B&B advising that they had closed my account and sent the proceeds (£22,893.66) by cheque to Newcastle BS. After waiting two weeks without hearing from the Newcastle BS I telephoned them on 25 March to be told that the cheque from B&B had “just arrived today” and was in process of being credited to my account.
I immediately rang B&B who assured me that the cheque had been sent on the 17 March and that my resulting loss of interest was not their problem and that I should complain to the Post Office. When I reasoned that I could not complain to the Post Office as the cheque was posted by B&B, they had nothing more to offer. I lost £50 interest as a result of this delay.
This first-time buyer wants your thoughts
Was it right?
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