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    • JasonHand
    • By JasonHand 11th Feb 19, 10:29 AM
    • 162Posts
    • 68Thanks
    JasonHand
    Money transferred to an inactive account
    • #1
    • 11th Feb 19, 10:29 AM
    Money transferred to an inactive account 11th Feb 19 at 10:29 AM
    Hi there,

    A friend of mine on Friday (8th Feb) transferred some money to an inactive account. Its an ISA which hit its maximum amount the back end of last year. Now I think my bank made it inactive.

    Anyway the money hasn't gone into the account but it has left my friends account. I've done online chat with my bank and they weren't that reassuring. The told me the money would go back into my friends account at some point today. I'm just not convinced that will happen.

    I bank with Natwest and my friend banks with Halifax.

    Can I believe what Natwest are telling me or is this going to be a saga getting this money back?

    As ever many thanks for any advice
Page 1
    • Gary_Dexter
    • By Gary_Dexter 11th Feb 19, 11:33 AM
    • 4,031 Posts
    • 2,519 Thanks
    Gary_Dexter
    • #2
    • 11th Feb 19, 11:33 AM
    • #2
    • 11th Feb 19, 11:33 AM
    Maybe wait and see what happens come tomorrow before making assumptions?
    • flo22
    • By flo22 11th Feb 19, 12:16 PM
    • 101 Posts
    • 127 Thanks
    flo22
    • #3
    • 11th Feb 19, 12:16 PM
    • #3
    • 11th Feb 19, 12:16 PM
    An ISA would not be become inactive.

    If an ISA is overpaid against the annual ISA allowance then the funds will be returned to source. I suggest you contacts the banks ISA Operational dept. Return of funds may take a few days.
    • chiny
    • By chiny 11th Feb 19, 12:21 PM
    • 143 Posts
    • 50 Thanks
    chiny
    • #4
    • 11th Feb 19, 12:21 PM
    • #4
    • 11th Feb 19, 12:21 PM
    I managed to confuse myself for several months by setting up a standing order from my active account to a closed account. The money departed monthly as expected and returned overnight with not an error message in sight. I couldn’t cancel the SO online and had to phone. No money lost.
    • Flobberchops
    • By Flobberchops 11th Feb 19, 12:31 PM
    • 967 Posts
    • 792 Thanks
    Flobberchops
    • #5
    • 11th Feb 19, 12:31 PM
    • #5
    • 11th Feb 19, 12:31 PM
    As flo22 says. The annual ISA subscription limit is quite zealously enforced so your money won't be in limbo for long.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • JasonHand
    • By JasonHand 11th Feb 19, 12:44 PM
    • 162 Posts
    • 68 Thanks
    JasonHand
    • #6
    • 11th Feb 19, 12:44 PM
    • #6
    • 11th Feb 19, 12:44 PM
    Thanks very much for all the posts. We will see what happens overnight.
    • JasonHand
    • By JasonHand 12th Feb 19, 10:47 AM
    • 162 Posts
    • 68 Thanks
    JasonHand
    • #7
    • 12th Feb 19, 10:47 AM
    • #7
    • 12th Feb 19, 10:47 AM
    Well its been resolved. The money in question went into another one of my Natwest accounts. Got to admit I didn't expect that. It went into that account under a description of blocked credits.
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