Written on: 31/05/2012
I opened an ISA 27th January of this year. On 22nd March I phoned as to whereabouts of money I was transferring in from 2 ISAs. They claimed the forms must have been lost in the post. I was made to take out another ISA because the first one had expired(although this new one was was .1% higher than my original!).This meant having to spend half an hour whilst they went through alll the procedures and legal spiel.
Took 2 transfer forms into a Halifax branch on 27th March. Only one transfer took place-when I phoned on 18th April they claimed to have the other transfer form but it was taking a while to get the money from Saga. A cheque for £25 for my inconvenience was sent to me (woo hoo).
On 28th May they said that someone from customer services would be calling and apolgised profusely again. On 31st May they decide that they have lost the transfer form and would I complete another. I am assured that I will not have lost any interest on the money and it will be back dated to 27th March. It will be amusing when they realise that the 60 day window for depositing money into the ISA has expired. One of their 'managers' seems to think that 60 days from the 27th March takes us to the 27th June - hardly encouraging.
Each time I have phoned I seem to get someone who is very sorry but there is nothing that the particular individual can do to help me but I am "not to worry" Well excuse me but £32k of my money being mislaid tends to be more than a trifle annoying. If it's still with Saga it's earning tuppance ha'penny in interest now.
Today after I spent an hour and a half on the phone to them I got a sign off of "thank you for phoning and enjoy the rest of your day" - possibly not the most appropriate way to end the call. If it wasn't that they are oferring the best rate on the market (for fixed term ISAs) I wouldn't bother with them - mind you it makes Santander look pretty good in comparison...