| Product: |
Abbey National |
| Date: |
15/10/08 (105 review reads) |
| Rating: |
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Advantages: None!
Disadvantages: They won't let you have your money back!
If you hold a postal Isa with Abbey bank watch out for their latest trick. My husband and myself have both had Abbey Isa's for a few years, leaving money sitting there for a rainy day. Well, that rainy day arrived and my husband filled in the paperwork, signed it and sent it off, requesting to have the money transferred to his current account in a different bank.
Two weeks later, the money still hadn't been transferred, so he phoned up asking what was going on. He was on hold for several minutes and the annoying thing is this is 0845 number which makes it quite expensive. Also you can only phone up until six pm. Finally he got through and was told that it was in another department being processed and it should be paid in around five to ten days. However they offered him a chance to switch there and then to a phone account which would mean he would get the money in five days. He declined as it was already looking like a phone account would be very expensive. And clearly this is a scam so they can make a profit from the number.
The next day a letter came dated from two days previously which means it was already in transit when he made his call. This said he can't have his money as his signature has changed! I had witnessed him sign it and it was his usual signature, although there might have been subtle differences over a few years. The only way he was going to get his money was to take photo id such as his passport to the branch we had opened the account at, which was around nine miles away, to prove who he was.
He was so annoyed at being run rings around like this, he phoned up and said if they weren't going to transfer his money over TODAY, we would both be transferring our accounts elsewhere. They tried again to get him to take out a phone account, in which case he would get his money without having to take his passport into the branch! Very strange! They don't trust his signature to convince them who he is, but they trust his voice over the phone. I mean really that could have been anybody they were talking to and they wouldn't have a clue! He told them we were definitely going to be transferring both accounts. The next day we went to Natwest who were all too happy to accept our money and gave us a .7% higher interest rate as well. Now all we have to do is walk in the bank with a card and can take money out at once.
As a final bit of stupidity from Abbey, they have sent each us acknowledgement letters to say the money has been transferred. Then we got the same letters again the next day. Then two more each a few days later. So if you wonder what the banks are doing with your money, they're wasting it on postage.
Summary: Poor service at a time when banks need savers!
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