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Transfer OUT timescale from Natwest
choc_mouse
Posts: 487 Forumite
I'm in the process of transferring my e-ISA out of Natwest to Standard Life. I am a little impatient as I haven't waited the full 30 days but I sent in all the transfer forms (directly to Natwest) over a week ago yet I can still see my full account balance on Natwest's online banking. I want it in SL now!
Anyone know how long Natwest usually take to release the funds?
It only took about 1 week for my previous transfer from Alliance and Leisceter to Natwest which I was quite impressed with. Now that Natwest's rates are relatively low I'm trying to transfer to another provider - are Natwest now trying to hold on to my money for as long as they can? There's no transfer fee or minimum term to the account. Just a bog standard e-ISA.
Anyone know how long Natwest usually take to release the funds?
It only took about 1 week for my previous transfer from Alliance and Leisceter to Natwest which I was quite impressed with. Now that Natwest's rates are relatively low I'm trying to transfer to another provider - are Natwest now trying to hold on to my money for as long as they can? There's no transfer fee or minimum term to the account. Just a bog standard e-ISA.
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Comments
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ermmm...if you transfering out from NW then you should hand the forms to SL not NW?!? because the bank you are going to should request the chq (which is it can take up to 30 days) from NW0
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Yes, SL sent me two forms. One to return to them and the other to send directly to NW. I guess have to wait the full 30 days now, especially since the holiday season starts tomorrow!0
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A related question. Is there anything wrong with the saver posting the new provider ISA transfer form (with the old and new account nos of course) direct to the old provider using the actual address of their approved ISA manager exactly as listed by HMRC in one of their guidance documents?
Sometimes the old provider denies the transfer form has arrived if you leave it to the new provider to send and both deny responsibility.0 -
Goldenyears wrote: »A related question. Is there anything wrong with the saver posting the new provider ISA transfer form (with the old and new account nos of course) direct to the old provider using the actual address of their approved ISA manager exactly as listed by HMRC in one of their guidance documents?
Sometimes the old provider denies the transfer form has arrived if you leave it to the new provider to send and both deny responsibility.
Some won't even send it for you. Birmingham Midshires gave me the transfer form and told me to send it to the other end (which was Egg).0 -
I don't understand why they don't all do it the way suggested ... i.e. get you to send it to the old provider. It is quicker, and it means that it's your problem to chase up the old provider, not theirs.0
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Update: my Natwest ISA funds disappeared on Christmas day - which makes it 2 weeks from posting my transfer form; average I guess. Just hope it finds its way to my new ISA provider.
It would be nice to have electronic authorisations for ISA-transfers. Using our PINs or requesting a transfer number (like how you port your mobile number from one network provider to another) to speed things up.0 -
I am still waiting for Natwest to transfer my ISA to Northern Rock, 20 working days so far and counting.0
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Hm, yes, but the delay's probably with NR given that they were offering stupid rates. Have Natwest confirmed they've had the request, and have NR confirmed that they've actually sent it?0
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Yes, NR confirmed they have requested it from Natwest in an undated letter! I have a feeling I will miss the deadline for the rate they offered. Haven't heard anything from Natwest yet.
Update: Just checked my bank account and the ISA money went out today. It will be interesting to see what date NR will credit it.0 -
Hi choc_mouse!
I'm in a similar situation, I had 2 forms, I sent the one that's for Standard Life but I got problems with the second one. Basically the guy in my NatWest local branch told me that form is for Standard Life and not for them I checked with SL and they are saying that I need to send that to my current ISA manager (i.e. NatWest). I've tried to get an address where I can send that form by using the helpline but they are saying the same thing "that form is for SL". How did you manage to handover the second form?
Thank you in advance,
Luismy
BTW, the only address that I can find in the NatWest website refering to ISA transfers is:
Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester, M3 3AQ
but it seems that address is for transfering ISAs to NatWest, is the same one for transfer OUT my NatWest ISA?0
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