Questions of cash: The £3,000 that disappeared from ISA account for five years
Friday 21 October 2011
Q My wife and I noticed that a credit she made to her Bradford and Bingley ISA account of £3,000 in December 2006 had not appeared on any statement from Santander after it took over Bradford and Bingley [in September 2008].
We tried to take this up with the Reading branch of Santander, who told us that the bank's customer services department would contact us, which they never did. Eventually the Reading manager suggested we deal direct with customer services. After we sent two letters in January and March of this year, the second was acknowledged in April and Santander then began an "investigation". We have since twice been asked, and have sent in, the Bradford and Bingley documentation. The second time it was not returned. We have had a series of letters, each from different customer service advisors – most of whom do not seem to have read the file. We have had two holding letters and two that acknowledged our case, promised to resolve it, but eventually did not. Attempts to speak or write direct to the senders of the more constructive letters failed and we have now again received bland holding letters. This has gone on for more than six months. We have tried going to the Financial Ombudsman, but again we have just hit problems doing this. Meanwhile, we are still missing my wife's investment of £3,000 from 2006, plus the interest on this.
ASantander accepts that you are correct in your complaint and describes your wife's problem as being caused by a "one-off systems error" that caused the deposit not to be shown on her statements. The bank has now ensured that the payment is properly shown in your wife's account, plus interest, with an additional payment made in recognition of its errors. A spokeswoman for Santander says: "We are very sorry to hear about the service [the reader and his wife] experienced when they contacted us regarding a deposit made to a Bradford & Bingley ISA in 2006. We have investigated this issue and confirmed with [the reader and his wife] that their funds, and the interest that has accrued since the deposit was made in 2006, are held in the account. We have given [the reader and his wife] a goodwill payment of £150 to apologise for the inconvenience they have experienced by the delay in confirming this information."
Q I have been trying since April 2010 to trace my Abbey Postal Cash ISA, in which I invested £3,000 in March 2005 at Abbey's Putney branch. I failed to notify Abbey [now rebranded as Santander] of a change of address, so its correspondence did not reach me. As a result, the account was "frozen" and regular statements were not sent to me. I have been trying to regain access to the account for the past 16 months. After letters were sent to various Santander offices, I finally received a reply on 10 June 2010 from the business manager of ISA customer services in Bradford and, as requested by them, I provided a copy of a recent bank statement and a utility bill and sent these to Bradford on 14 July 2010. After six weeks, I had no reply and my bank statement had not been returned. I contacted the office again and was asked to provide full identification at a local branch. I did this in October 2010 and was promised that the missing ISA details would be provided to me shortly. This did not happen and instead I was asked to again provide identification at the same Santander branch in December 2010. I was promised that I would be given information without delay on my missing account, but this did not happen. I again attended the Santander branch with my identification in May this year – for the third time – and once more I was promised that full details of the Abbey ISA would be provided to me without delay, more than a year after I first raised the matter with Santander. I have still heard nothing, despite sending letters of complaint by registered post to Santander's complaints office in Milton Keynes. Nor have I had an acknowledgement that I have submitted two formal complaints. I also want compensation from Santander for the derisory rate of interest it pays on ISAs, which I have been unable to do anything about as I could not move my account. I am at a loss to know what to do next and would be grateful for any help that Questions of Cash might provide.
A As with DM of Berkshire, we can report progress. Santander apologises, has located the account and has offered to pay compensation. The bank calculates that if you had switched to Santander's highest interest ISA, the Direct ISA 6, you would have received £84.05 over this period, at 2.0 per cent interest – significantly above the £5.82 you actually received. Santander therefore proposes to pay you the difference of £72.20, plus a goodwill payment of £100 in recognition of its failure to deal with your complaints and enquiries.
Q I paid Vodafone for a top-up of its mobile broadband service, but the service did not work – apparently because of network problems. I am trying to get a refund of the £15 I spent for a month's service that I did not receive. I have spent a lot of time trying to get this processed.
A Vodafone has not replied to our inquiries on your behalf, but it has responded directly to you. Your £15 payment has been refunded, with an additional £10 in recognition of the difficulties you encountered trying to resolve the matter. Apparently, Vodafone probably replied to you on the number of the mobile broadband service that was not working.
Questions of Cash cannot give individual advice. But if you have a financial dilemma, we'll do our best to help. Please email us at: email@example.com.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 Fifty Shades of Grey trailer provokes moral outrage from US parenting groups
- 4 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 5 Students offered grants if they tweet pro-Israeli propaganda
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...
Day In a Page
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
This three-bedroom flat within a former textile factory spans the corner of the fourth floor and has a balcony
A charming four-bedroom Oxfordshire cottage with oak floors and chunky-beamed ceilings, £465,000
A beautiful one-bed flat in a sought-after portered block, with access to Norland Square communal gardens
A one-bedroom flat within a Sixties school conversion with high-spec design and open-plan kitchen, close to Lambeth North Tube, £435,000
A 17th century four-bedroom house, with open fireplaces, cellar and pool, £600,000
A three-bedroom, coach house with luxury open-plan living space and contemporary breakfast bar