I’ve been trying to transfer my ISA from Cheltenham and Gloucester to Halifax for 3 months. It should be a very simple process – all you do is go to your new bank, fill in a form, and they do the rest.It should take a month at the very outside.
The first I knew of a problem was when I received a letter from C&G saying there was a problem with my signature and could I please go to a branch. I did, signed another signature form and left, assuming all would be well. A month later, no transfer had been made and I got another letter, this time from Halifax. There was still a problem and I would need to sort it out with C&G.
Back I toddle to the branch. They aren’t sure why there’s a problem, but I send another signature form and think surely, this time it will go through.
Not so much. Another letter from Halifax (note how C&G have never contacted me after their initial letter) and back I go again. They tell me they will call the ISA team and sort it out. Supposedly this has sorted it.
Halifax disagree. They keep trying to get the money and keep being told there’s a stop on the account – for no apparent reason.
Well, it had been three months by this point and that’s just ridiculous. Over Christmas I wrote a letter to C&G complaining about how I had been treated and the complete lack of information I had received. I also asked for compensation for the phone calls and the fact that I had been forced to visit C&G and Halifax branches at least 3 times each.
I thought I might get £25, £50 if I was very lucky. I had a phone call from a C&G customer service rep today, who told me that he couldn’t tell what the problem was but that the transfer had now taken place. Then he turned to compensation. He worked out that I had missed out on £9 in interest by being forced to stay with C&G for 3 months when I could have been getting the better interest from Halifax, and offered me a cheque for £100 to cover the interest and inconvenience.
Yes please! I’m still annoyed at the piss-poor customer service I received from C&G (no complaints at all about Halifax) but that’s a tidy sum!