Abbey ISA at 4.6%

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Comments

  • zain
    zain Posts: 336 Forumite
    Abbey will pay interest from the moment they receive the cheque and not when they cash it!
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    I only sent a cheque for £1. I was going to transfer the rest afterwards! :'(

    It would be nice if they at least acknowledged the applications. For all I know its been lost in the post!
  • cb_2
    cb_2 Posts: 13 Forumite
    I'm aware of the apparent interest payment on date cheque received but agree with cellardoor - I'd rather get good service (at least an acknowledgement) and lose out on a couple of pounds of interest (gasp!).

    Still got my M&S from previous years, anyway (sigh). ;D
    Mark Hughes' blue and white army
  • aussielle
    aussielle Posts: 705 Forumite
    Rises to 4.85% from 1st June
    Laughter is the sun
    that drives winter
    from the human face
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Phoned Abbey tonight and the lady on the phone said they are up to the 18th April in processing applications.

    Got to phone a different number tommorow to see if mines been done. ISA team: 0845-6000-188 9am-5pm.
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    If the interest rate rises to 4.85% on 1st June should I wait until then to apply?
  • isasmurf
    isasmurf Posts: 1,999 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    All Abbey branches will now do on-the-spot processing of your Postal ISA application.

    http://news.bbc.co.uk/1/hi/programmes/moneybox/3717415.stm

    So, IF had problems processing applications because of high demand to their ISA a couple of months ago, M&S closed theirs due to demand, and now Abbey say they are having problems because of 'unexpected demand'. Who runs these banks? Do they not realise if they have a market leading rate they'll get a huge number of applications?
  • aussielle
    aussielle Posts: 705 Forumite
    I have just spoken to Abbey, re the postal Isa.

    They have had my application for over a month now and tell me I will have to wait a further two weeks. >:( The excuse is, it has been too popular. Extra staff have supposedly been brought in to cope with the demand. Letters to all those still waiting are aparently 'in the post'. They assure me that the delay shouldn't result in a loss of interest.

    What a fiasco!

    Has anyone's transfer been successfully completed yet?
    Laughter is the sun
    that drives winter
    from the human face
  • cb_2
    cb_2 Posts: 13 Forumite
    Bit gutted 'cos I've now gone with a lower rate ISA (IF). However, they've processsed the application (took under a week) and their service has been quick and kind.
    No doubt I'd still be waiting for Abbey. I can always transfer, anyway... :-*
    Mark Hughes' blue and white army
  • Margaret_Millne
    Margaret_Millne Posts: 313 Forumite
    Bit gutted 'cos I've now gone with a lower rate ISA (IF).  However, they've processsed the application (took under a week) and their service has been quick and kind.
    No doubt I'd still be waiting for Abbey.  I can always transfer, anyway... :-*

    I have an IF ISA as well. Does anybody know if they charge for transfer out, or if Abbey will accept a transfer in, and how do you go about it?
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