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isa transfer.

boone70
Grafter
Posts: 81
Registered: 25-07-2007

isa transfer.

I applied to  transfer a cash isa to Nationwide in early April, Nationwide  took until May 21st  to contact my previous provider who sent a cheque to them on 25th May. It is now 28th June and I have had no correspondence from Nationwide confirming receipt of a substantial amount of money in spite of four visits to the local branch and about six unsuccessful attempts to contact the isa department by phone. This would not be so frustrating if they would issue a general warning that they can't cope with the volume of work and they will take some time to clear the backlog. I only learned about this by googling and finding out that I was only one of many with the same complaint. I  am just getting it off my chest in  this forum and wondering if any of you has a similar experience. I think it is the worst service I have ever had from a bank.
E L
4 REPLIES
Community Veteran
Posts: 16,825
Thanks: 1,115
Fixes: 13
Registered: 06-11-2007

Re: isa transfer.

Have you got on-line banking with Nationwide?
If so , use the message section to contact them direct..... that way you can keep up to date without having to find time during the day to visit the branch, and then change your mind cos you will be late home for tea or whatever!....
Just a thought..... Cheesy
I have had no problems with them on contact by their secure message system. Smiley
alanf
Aspiring Pro
Posts: 1,931
Thanks: 77
Fixes: 1
Registered: 17-10-2007

Re: isa transfer.

At least that was a transfer from elsewhere. I handed in a Nationwide bond at a branch to be reinvested in a new bond. When I heard nothing after about 10 days I went into the branch and was told that the bond was still waiting to be processed ( I assumed an oversight). I was told it would be processed that day. Another week passed and I returned to the branch and still it was sitting there waiting to be processed. I was informed  that I shouldn't have been told that it would be processed immediately. It had not been an oversight just that there was a backlog. Three weeks to process a reinvestment? They promised faithfully it would be processed that day and I would receive the new bond in a week or so. I pointed out that by that time there would be disruption as a series of postal strikes were planned so they said that they would arrange for the new bond to be sent to the branch and phone me when it was ready to collect. Just over a week later it arrived in the post.
I attributed the inefficiency to the problems of merging with the Portman which doesn't seem to have been handled as smoothly as it could have been.
jmd
Grafter
Posts: 2,933
Thanks: 2
Registered: 30-07-2007

Re: isa transfer.

I transferred an ISA from RBS to Alliance and Leicester and it took precisely 30 days.  They apologised for delay saying due to backlog but interest would be from date of receipt when I contactd them by secure message.  I also got a letter when action completed.
RBS took about a week to transfer the money from when they got notice.
boone70
Grafter
Posts: 81
Registered: 25-07-2007

Re: isa transfer.

Thanks for your interest guys. I have now sent a strong letter to the customer  service dept and if I do not get a swift response I will contact the ombudsman.
I don't have an internet account as the account has not been opened yet .
E L Angry