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“Fixed Rate Bond”

Written on: 13/08/2014

I took out a one year fixed rate bond which matured on 04.08.14. I returned a completed form instructing Britannia to close the account and forward the funds to my First Direct current account. This form clearly stated that funds would be forwarded within one working day of receiving instructions and my completed form arrived at Britannia on 08.08.14. After two working days had passed my funds had not been forwarded so I rang Britannia and was told that the funds would not arrive for another two days as the bank had so many maturing bonds to deal with. Two further working days passed and still no funds so I rang again and was told this time that my money would not arrive until the end of the following week, approximately another ten days! When I pointed out that this did not comply with the one working day policy the advisor implied that it was my fault for not returning the form before the maturity date and other policies would now take precedence over mine. I pointed out that this was my money and how long does it take to close an account and transfer the money into an account, on top of which there were serious financial implications for me if I did not receive the money. The advisor just repeated that my instructions had not arrived until 08.08.14 and therefore I only had myself to blame and there was nothing more she could do apart from lodge an official complaint! What an appalling way to run a bank, steer clear of Britannia and its parent Company the Co-op Bank, there was nothing co-operative about this bAnk or its staff! Wish I had read some of the reviews before investing my money, I wouldn't touch it again with a barge pole!

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