Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • philng
    • By philng 24th Nov 17, 3:22 PM
    • 533Posts
    • 49Thanks
    philng
    Td direct transfer to iweb very slow
    • #1
    • 24th Nov 17, 3:22 PM
    Td direct transfer to iweb very slow 24th Nov 17 at 3:22 PM
    Initiated transfer to iweb 25 october with the non isa account going through fine.

    However both mine and wife isa account still not done. Iweb say they have contacted iii 3 times and received no response. Iii claim they have not had these contacts but are inundated with transfer away requests.

    Anyone else having an issue? Probably sums up why i am transferring as totally not impressed with iii where my account was held prior to switching to td direct.

    Seems they have under estimated how many will want to leave.
Page 2
    • JohnRo
    • By JohnRo 27th Nov 17, 9:04 PM
    • 2,481 Posts
    • 2,228 Thanks
    JohnRo
    My timeline for one account I moved recently (GIA)

    19 Sep - IG acknowledge transfer instruction
    25 Sep - TD/II acknowledge transfer has started
    04 Oct - TD/II apologize for delay (unprompted)
    10 Oct - TD/II state transfer date agreed
    13 Oct - IG provide details of transferred assets as trades executed
    13 Oct - TD/II notification that the transfer is complete
    13 Oct - TD/II notify account closed (as requested via telephone)
    27 Nov - IG still haven't credited the transfer incentive cash bonus... 3 days to go
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • Economic
    • By Economic 28th Nov 17, 8:38 AM
    • 145 Posts
    • 95 Thanks
    Economic
    Yes but I'm not even sure its been sent as the cash is still showing in the ii account and has actually increased due to a dividend coming in. How can they claim the transfer is complete when the money is still there, apparently?
    Originally posted by EdGasketTheSecond
    The cash in my ISA left my ii/TDD account yesterday afternoon and is in my IG account this morning.
    • Economic
    • By Economic 28th Nov 17, 8:40 AM
    • 145 Posts
    • 95 Thanks
    Economic
    My timeline for one account I moved recently (GIA)

    19 Sep - IG acknowledge transfer instruction
    25 Sep - TD/II acknowledge transfer has started
    04 Oct - TD/II apologize for delay (unprompted)
    10 Oct - TD/II state transfer date agreed
    13 Oct - IG provide details of transferred assets as trades executed
    13 Oct - TD/II notification that the transfer is complete
    13 Oct - TD/II notify account closed (as requested via telephone)
    27 Nov - IG still haven't credited the transfer incentive cash bonus... 3 days to go
    Originally posted by JohnRo
    I had to remind them about the transfer incentive.
    • philng
    • By philng 28th Nov 17, 9:58 AM
    • 533 Posts
    • 49 Thanks
    philng
    Can see this getting messy as iweb say they have contacted iii 3 times to chase up the transfer and iii deny receiving contact.

    Now iii say they they have contacted iweb but awaiting their response.

    Will give it a week before chasing or raising a formal complaint as there is no way i am paying any of the new charges at iii.
    • EdGasketTheSecond
    • By EdGasketTheSecond 28th Nov 17, 10:11 AM
    • 323 Posts
    • 182 Thanks
    EdGasketTheSecond
    A family member's few trading account shares have been transferred to x-o but now appear in both the x-o trading account and ISA account i.e. doubled up! There is no sign of the bulk of the shares which were in the TD ISA, they have totally disappeared from both ends! Not happy.
    • philng
    • By philng 28th Nov 17, 10:21 AM
    • 533 Posts
    • 49 Thanks
    philng
    Nothing surprises me. Iii advised they are receiving high numbers of transfer out requests and it seems they have not planned for this.

    Iweb told me that they are receiving high numbers of transfer in requests from iii.

    All as a result of the changes in charges at iii.
    • bowlhead99
    • By bowlhead99 30th Nov 17, 8:40 AM
    • 6,985 Posts
    • 12,575 Thanks
    bowlhead99
    I am moving one of my ex TD accounts to Youinvest. Like you I had that email soon after I had the confirmation from the transferee broker that they had received my request.

    That was 6 November ; this week 22 November I had a confirmation from TD/ii that 'the following securities have been transferred' ; the item listed was just my nominal amount of cash, £30 or so. As of earlier this week (ii website offline today) the cash was still showing on the ii account while as of today the cash isn't showing in my Youinvest account.

    But as you say, it's not 6 weeks yet so I will wait and see what happens to the rest and when.
    Originally posted by bowlhead99
    As an update, the cash appeared in my transferee account on Monday 28th and the rest of the holdings were visible on Tues 29th and no longer show at TD/ii. So timescale was 3-4 weeks all in, well within the 'usually within 6 weeks but could be longer'.

    All the assets were UK listed investment trusts / investment companies though, no open ended funds (and no issues with share classes not being available at the transferee etc.).
    • EdGasketTheSecond
    • By EdGasketTheSecond 30th Nov 17, 6:49 PM
    • 323 Posts
    • 182 Thanks
    EdGasketTheSecond
    Was that an ISA or trading account?

    Family member's complete ISA portfolio still missing and obviously unable to trade anything!
    • bowlhead99
    • By bowlhead99 30th Nov 17, 7:11 PM
    • 6,985 Posts
    • 12,575 Thanks
    bowlhead99
    Was that an ISA or trading account?

    Family member's complete ISA portfolio still missing and obviously unable to trade anything!
    Originally posted by EdGasketTheSecond
    It was an unwrapped trading account (legacy TD); I still have a second unwrapped legacy TD trading account which is linked to my legacy TD ISA, have not started the move process on those but may do so soon.

    I think I can't justify the fees on either of the remaining accounts as they are both relatively low after a property purchase, but the trading functionality is better than most rivals (lots of markets, extended settlement, multicurrency cash etc). I recently liquidated a holding of Tencent shares with no intention of going back in any time soon which means I no longer need to look out for a rival that offers cheap HK dealing.
    • Economic
    • By Economic 1st Dec 17, 8:21 AM
    • 145 Posts
    • 95 Thanks
    Economic
    My shares left my TD ISA yesterday afternoon and appeared in my IG ISA this morning. Except that a number of shares from a recent automatic dividend reinvestment worth about £300 are still in my TD ISA. How difficult is it for TD/ii to check that all the shares have been transferred?
    • EdGasketTheSecond
    • By EdGasketTheSecond 1st Dec 17, 11:00 AM
    • 323 Posts
    • 182 Thanks
    EdGasketTheSecond
    How long is a reasonable time to be left with no shares in either account? Been over a week now; no response from ii; x-o say they will notify when complete.
    • JohnRo
    • By JohnRo 1st Dec 17, 2:27 PM
    • 2,481 Posts
    • 2,228 Thanks
    JohnRo
    I had to remind them about the transfer incentive.
    Originally posted by Economic
    Wise word. I phoned IG on the 29th and was (quite flippantly) assured the bonus would be paid at the end of the month.. it wasn't.

    I wasn't expecting red carpet treatment but I think it's reasonable to expect them to honour their own incentive offers.

    The search for the next platform switch in a few months time has started...
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • philng
    • By philng 5th Dec 17, 10:27 AM
    • 533 Posts
    • 49 Thanks
    philng
    Update:

    Still no progress with transfer of shares in ISA at III. Telephoned IWEB who are blaming III for not providing Valuation & then contacted III who say Valuation was provided 9 Nov. I have asked for proof of this but III say they will have to check if they are able to provide this.

    IWEB say they have had no response to 3 letters over the last 5 weeks & III deny receiving these letters.

    So both companies are blaming each other. III guy said IWEB must have lost it-he actually came across as really arrogant!

    IWEB say they have spoken to III yesterday on phone but III were not prepared to provide the information required in a timely manner. They said it will just have to go in to the normal queue!

    Raised a Complaint with both IWEB & III as me as the customer is sat in the middle of it with no progress being made. Neither company really understood that there is a customer in the middle of this.

    Both companies think they have done nothing wrong but seemed unable to offer a resolution hence the formal complaint being raised.
    • JohnRo
    • By JohnRo 5th Dec 17, 1:46 PM
    • 2,481 Posts
    • 2,228 Thanks
    JohnRo
    It sounds like an awful situation to be in, my plan was to use IG for the transfer bonuses then look to move elsewhere later. iWeb being one of the most likely places.

    I've never had a problem with iWeb personally but then I didn't transfer in when I first opened my account with them.

    I had a quite long chat on the phone yesterday with a chap from TD/II about account closures post transfer and it seems they must be requested by the account holder, via secure message or telephone. That conflicts with what I had been told previously but he seemed to know what he was talking about.

    FWIW he also said the new TD/II charges won't start applying to client accounts until mid January.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • greenglide
    • By greenglide 5th Dec 17, 2:55 PM
    • 2,919 Posts
    • 1,893 Thanks
    greenglide
    I had a quite long chat on the phone yesterday with a chap from TD/II about account closures post transfer and it seems they must be requested by the account holder, via secure message or telephone. That conflicts with what I had been told previously but he seemed to know what he was talking about.
    They closed both of my accounts automatically at the end of the transfer to HL.

    It seems logical to do this - the online access is still there and, presumably, I can open another account / accounts within this at any time.
    • JohnRo
    • By JohnRo 5th Dec 17, 3:06 PM
    • 2,481 Posts
    • 2,228 Thanks
    JohnRo
    I've transferred three accounts off TD/II in total, two GIA and one ISA and none have closed automatically but I say that because I've phoned to check soon after transfer completed so don't know whether they would have otherwise closed or not once the dividends had been settled.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • xylophone
    • By xylophone 5th Dec 17, 6:15 PM
    • 23,634 Posts
    • 13,767 Thanks
    xylophone
    Well, so far (since 31 October), two REITS show on iWeb but no funds (although transferred a week ago according to II) - cash still sitting in II as they are

    now waiting on them (iWeb) providing us with their bank details to allow us to send them the cash balance.

    I'll leave it a day or two more before contacting iWeb for an explanation......
    Last edited by xylophone; 06-12-2017 at 1:23 PM. Reason: punctuation
    • philng
    • By philng 6th Dec 17, 8:45 AM
    • 533 Posts
    • 49 Thanks
    philng
    Further update:

    Received e mail at 741am saying they had cancelled wife transfer-no explanation!!!

    2nd e mail asking us to contact III re one line of stock IWEB can't accept (Banco Santander)-Contacted IWEB who confirmed that this stock is acceptable.

    Contacted III yet again to explain the mess-Coming back to me later today.

    Also on my transfer they state they have transferred my cash balance of X but they have used balance as 12/10/17 & not current balance which has increased with 5 subsequent dividends.

    WOW what a mess!
    • xylophone
    • By xylophone 6th Dec 17, 1:25 PM
    • 23,634 Posts
    • 13,767 Thanks
    xylophone
    WOW what a mess!
    I'm afraid....I'm very afraid.......
    • cloud_dog
    • By cloud_dog 6th Dec 17, 1:32 PM
    • 3,303 Posts
    • 1,861 Thanks
    cloud_dog
    Well, so far (since 31 October), two REITS show on iWeb but no funds (although transferred a week ago according to II) - cash still sitting in II as they are

    now waiting on them (iWeb) providing us with their bank details to allow us to send them the cash balance.

    I'll leave it a day or two more before contacting iWeb for an explanation......
    Originally posted by xylophone
    When the OH transfer had ISA cash outstanding iWeb explained that cash is usually the very last thing to come across. It wasn't 100% clear if the transfer of cash was done via ye 'ole style by cheque. It took just over a week for the cash to resolve itself (i.e. all stocks transferred and just waiting for the ISA cash)
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,562Posts Today

7,638Users online

Martin's Twitter