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Banksters Take 26 Days To Transfer I S As

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Banks ordered to stop penalising ISA customers
Harry Wallop, 11:46, Tuesday 29 June 2010
Britain's 17 million ISA savers should gain millions of pounds in extra interest when they transfer their accounts after the Office of Fair Trading ordered banks and building societies to improve their customer service.
The Office for Fair Trading has published an in-depth report into the Individual Savings market and demanded that providers speed up the transfer process. It currently takes 26 days on average to switch ISA accounts. More than two million customers switch every year.
The OFT said this should fall to 15 days by the end of this year and ultimately "just a handful" days.
The slow process means customers are frequently missing out on interest, with many losing about five days' worth. Consumer Focus the watchdog said that millions in interest owed to consumers was being kept by the banks as a result.
The OFT said if banks wanted to be trusted more they needed to examine how they could get away with charging customers for missing just a payment by just one day, but failed to pay customers when transferring ISAs

I hold banksters in low esteem and have zero trust in their integrity. I deposited a large $ cheque in my US $ account with Natwest last month and it took a month for it to show up in my account. I complained and they said there was nothing they could do but added that the Americans are very efficient in clearing cheques. Some bankster made a nice little sum on my money for a month while I got owt.

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  • 434 Brexit, House prices and Summer 2020

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