# santander scrapped my ISA!



## m0bov (May 2, 2007)

Hi all, last week I "upgraded" my old A and L account to a Santandar Zero account and got my old savings account closed and moved to my online saver. 

Logged into my account today and noticed a few days ago they have closed my ISA and moved life savings into my online saver!! :doublesho:doublesho

Instant panic phone call to them and they said they will put a request in to have my account restored and money put back in. They said they will back date interest and process takes 7 days.

Any comments? Can they resolve it ok do you think??

James :thumb:


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## Dixondmn (Oct 12, 2007)

personally after a **** up like that i'd go see the branch manager and tell them of your intention to close your account.


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## Ravinder (Jul 24, 2009)

Open an ISA with Halifax. Now at 3%.


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## PG Monkey (Apr 19, 2010)

Santander are well known to reject customer's complaints unless they go to the Ombudsman which inevitably rules in favour of the consumer.

I stay away from them, complete waste of time in my experience.


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## bilt-hamber kid (Dec 4, 2007)

Ravinder said:


> Open an ISA with Halifax. Now at 3%.


A cash ISA at 3% is still losing you 2% per annum, if inflation is running at 5%.


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## dan123elvin (Jun 15, 2010)

Yeah but its better in an ISA than it is at home.


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## bilt-hamber kid (Dec 4, 2007)

At home, you still have the cash, sure. But you are still losing money.

Consider instead of a cash ISA, a properly constructed Equity based ISA - based on your objectives and attitude, threshold and capacity for risk. A modestly risk 'exposed' ISA will probably make you at least twice that. Mine certainly have. A tasty portfolio will have made you 14-15% this past year.

There is no point in it being tax free, if you are not making money in the first place.


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## dan123elvin (Jun 15, 2010)

Any recommendations?


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## bilt-hamber kid (Dec 4, 2007)

I'll drop you a PM.


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## Ger (Mar 16, 2011)

nothing but bad news with santander, ill stick to my natwest and principality isas!


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## herbie147 (May 30, 2010)

I hate that bank with a passion, Abbey beforehand were just as bad. I dont know why people still bank with them.
Ive read far too much horror stories and they have also been on the Watchdog programme (BBC1) a few times.


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