Abbey apology for delays in Isa money transfer

Abbey has written to its customers, apologising for its struggles to cope with the amount of people ...

Abbey has written to its customers, apologising for its struggles to cope with the amount of people attempting to transfer money into its postal Isa, a backlog affecting some 25,000 people. The issue has raised concerns about the group's administrative efficiency. Its postal Isa has proved popular because of its market-leading rate, which currently stands at 5.35%. Abbey intends to backdate all interest to the day original applications were received. Abbey said it has completely overhauled the way it handles applications from start to finish. As well as recruiting more staff and restruc...