Impossible to transfer existing A&L ISA to Natwest e-ISA due to account numbers

Colin_London · 15 April 2009 at 11:12PM

:mad:

This is so frustrating.

My Alliance and Leicester ISA for 2008/09 accepts transfers out. My new Natwest e-ISA accepts transfers in. You'd think it would be easy to effect a transfer.

You'd be wrong!

Natwests online transfer form ONLY accepts sort codes and 8-figure account numbers. There is no field for a 'reference number'.

The A&L ISA has an 11 figure account number. The associated sort code 72-58-10 is only valid for payments in, not for payments out. And unlike A&L current accounts, there is no obvious conversion to convert the A&L ISA account number to a Sort code + eight figure number.

Natwests response is that there HAS to be a conversion to effect a transfer. Otherwise it's a case of 'computer says no'. They do not offer any other method.

A&L now closed; i'll call tomorrow but I suspect that there won't be a conversion. The only numbers they provide are for payments in where the account code is 00000000 and you quote the reference seperately.

Anyone out there who has managed to transfer from A&L to Natwest? Obviously I can't transfer via my Current Account as i'll lose the tax benefit and the amount is in excess of what I can invest in 2009/10 anyway.

Baldur · 16 April 2009 at 5:45AM

See HERE and HERE. It's purely a limitation of the online form. Doing the same as the posters, to whose posts I have linked, will resolve the problem.

I have successfully transferred Cash ISAs from A&L to LTSB in branch by writing in the A&L 11-character account number - the LTSB form had similar limitations to the Natwest one.

PinkPig · 16 April 2009 at 6:53AM

Colin_London wrote: »

Natwests online transfer form ONLY accepts sort codes and 8-figure account numbers. There is no field for a 'reference number'.

It's not really an online form - as long as it's the same form I filled in a few weeks ago, what you type in online doesn't get recorded by Natwest, it just gets printed in a pre-filled PDF file for you to send to them. You can write the reference number on the form and/or include a cover letter with an explanation when you send it for accounts without standard account numbers.

Colin_London wrote: »

Natwests response is that there HAS to be a conversion to effect a transfer. Otherwise it's a case of 'computer says no'. They do not offer any other method.

If someone at Natwest has told you that then they're wrong, several people on the boards have transferred from A&L.

bagsacash · 16 April 2009 at 7:47AM

I've had the very same problem. I phoned A&L yestaday and was told to fill in the 8 digit account number on the form with zeros and then write the A&L account number on the form.

Natwest haven't thought through their banking systems very well :eek:

Colin_London · 16 April 2009 at 7:56AM

Thanks for the info everyone - this makes sense and has saved me another phone call to A+L.

I'll use the eight zeros method and write the account number onto the form manually.

Although it is a handy way to generate a form, Natwest should be clearer that this info is only used to print a form, and is not actually logged online. They should have also thought through the web form design better and briefed their call centre staff a bit better!

willo65 · 16 April 2009 at 10:33AM

bagsacash wrote: »

I've had the very same problem. I phoned A&L yestaday and was told to fill in the 8 digit account number on the form with zeros and then write the A&L account number on the form.

Natwest haven't thought through their banking systems very well :eek:

Or A&L haven't thought through theirs very well. Can A&L accept faster payments with weird account numbers??

bagsacash · 16 April 2009 at 10:45AM

That was my initial thought, however, A&L is a building society and some building societies do have 11 digit account numbers or Roll numbers

Colin_London · 16 April 2009 at 2:39PM

willo65 wrote: »

Or A&L haven't thought through theirs very well. Can A&L accept faster payments with weird account numbers??

Yes - they can accept Faster Payments. Payments into A&L savings accounts go to a sort code 72-58-10 / account number 00000000. The payment to this holding account can be a faster payment.

When making payments there is also usually an option to include a reference number which is where you put the actual 11 digit account number. A&L use the 11-digit number to pay the sum from the holding account into your savings account.

The problem here is wholly Natwests in that their form does not allow for quoting of anything other than an 8-figure number, despite the fact it is well known that several ISA providers use longer account numbers than this.

Baldur · 16 April 2009 at 2:44PM

bagsacash wrote: »

That was my initial thought, however, A&L is a building society and some building societies do have 11 digit account numbers or Roll numbers

It's many a year since A&L was a building society (demutualised in 1997, from memory).

willo65 · 16 April 2009 at 9:09PM

Colin_london how long does it take money to go from holding account to the account?

hgtguy · 24 April 2009 at 12:25PM

I completed NatWest's form with my A&L ISA number and sent it off.
ISA was closed 8/4/09 but balance only credited 20/4/09. They said it can take upto 30 days to transfer the balance as it has to be confirmed by the tax office asa valid ISA transfer, which is fair enough, but can leave your ISA cash in a black hole for a while.
NatWest are saying interest starts from the day the balance is credited, so who gets the missing 12 days interest?
It's probably only a tenner but there's a principle involved, so I hope they are in the mood to back date the interest, or else...

Impossible to transfer existing A&L ISA to Natwest e-ISA due to account numbers

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