My husband and I started banking with Girobank in 1987, this became Alliance & Leicester, then Santander. In all that time we have never been overdrawn and have always run our accounts carefully. Following the maturity of an endowment policy we currently have over £100,000 in one of the accounts and wish to use £78000 of it to pay off our mortgage. Basically Santander are refusing to transfer the money! The money is there, it is cleared funds, we have passed all the telephone security questions but they have told us there is simply no way to transfer this money to our mortgage lender. They want us to write a cheque (not even sure we have a chequebook for this account) but our mortgage lender says they don't accept cheques for mortgage closures as redemption figures are only valid for one week and it takes longer than that for the cheque to be processed.
Santander seem to have forgotten just who this money belongs to!
As soon as we have worked out just how to get our money we will be closing all Santander accounts and making alternative arrangements.
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