S&S ISA Transfer

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sorcerer
sorcerer Posts: 878 Forumite
in ISAs & tax-free savings
Well I am almost two months into my transfer from HL to II, and so far ...


I have three funds in II moved and gone from HL's website.
Two funds that show up in both platforms.
One fund that shows up in both platforms but with different unit amounts, HL right II wrong.
9 more funds not moving from HL at all.


So it's all going swingy so far. And hear I was thinking back in Jan 2014, it would be sorted by April 6th, what a fool I am. At this rate I wouldn't be surprised if I am still waiting by xmass. :-(
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  • le_loup
    le_loup Posts: 4,047 Forumite
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    Hmmm. That's real bad news.
  • masonic
    masonic Posts: 23,473 Forumite
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    My transfer from HL to III also hits the two month mark at the end of this week. None of my 6 funds have disappeared from HL, nor have any of them shown up at III.

    I too could not believe the transfer wouldn't have completed or been nearly complete by now. I now face the prospect of negotiating the refund of excess platform charges at HL when they apply them at the end of this month.

    I will need to add money to my HL fund and share account to cover their fees in the first instance, because otherwise I fear they will try to sell some of my holdings that are in limbo and that could mess up the transfer.
  • le_loup
    le_loup Posts: 4,047 Forumite
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    Did they not agree to waive platform charges as well as transfer charges? I thought that was standard. They did it for me.
  • masonic
    masonic Posts: 23,473 Forumite
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    le_loup wrote: »
    Did they not agree to waive platform charges as well as transfer charges? I thought that was standard. They did it for me.
    I was one of the earliest to submit a formal complaint and I didn't specifically ask about platform charges being waived while my transfer was in progress (although I did explicitly reject the unilateral variation to my contract, which would include those charges).

    HL did not mention the application of platform charges in its final response letter to me, although I know it refined its standard response letters to address some of the points raised by specific individuals, such as waiving the platform fee, later.
  • grey_gym_sock
    grey_gym_sock Posts: 4,508 Forumite
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    in that case, it might be worth putting in an additional complaint, asking them to waive the new fees while the transfer is in progress. by "complaint", i of course mean a polite request, but explicitly labelled as a formal complaint.
  • masonic
    masonic Posts: 23,473 Forumite
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    I have already messaged them to question what they intend to do, so I'll certainly proceed down that route if the answer isn't what I expect.
  • sorcerer
    sorcerer Posts: 878 Forumite
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    that's a good idea, I was thinking I would need to pay their charges at the end of March as well. So I might send them a request via secure message to see what they say.
  • lejog2003
    lejog2003 Posts: 202 Forumite
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    masonic wrote: »
    I was one of the earliest to submit a formal complaint and I didn't specifically ask about platform charges being waived while my transfer was in progress (although I did explicitly reject the unilateral variation to my contract, which would include those charges).

    HL did not mention the application of platform charges in its final response letter to me, although I know it refined its standard response letters to address some of the points raised by specific individuals, such as waiving the platform fee, later.

    Sorry if this a case of I told you so, but in the early days of the exit fees thread, it did really feel as if I was ploughing a lonely furrow asking HL to forgo increased platform charges.

    http://forums.moneysavingexpert.com/showpost.php?p=64417198&postcount=31

    http://forums.moneysavingexpert.com/showpost.php?p=64631743&postcount=267

    My SIPP transfer, initiated on 19th Jan shows no visible sign of moving, but I was told by HL that the transfer wouldn't take place to early or mid April.
  • masonic
    masonic Posts: 23,473 Forumite
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    edited 19 March 2014 at 7:35PM
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    lejog2003 wrote: »
    Sorry if this a case of I told you so, but in the early days of the exit fees thread, it did really feel as if I was ploughing a lonely furrow asking HL to forgo increased platform charges.
    I do remember those posts distinctly. My complaint was already in at that time and I didn't want to risk making the matter more complex by sending them an update. I took the view that I'd cross that bridge when I came to it.

    I also remember the huge difficulty you had getting HL to acknowledge that part of your complaint, so thanks for fighting that one - it made things rather easier for me.

    I've had an update from HL saying "the transfer should complete shortly" but that if any additional charges are applied to my account they will be refunded.
  • sorcerer
    sorcerer Posts: 878 Forumite
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    ok I spoke to HL, and they said they will reimburse the fees, if I get charges in April, so at least I won't have to pay to sets of fees to two different providers.
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