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  • 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 3
    • EdGasketTheSecond
    • By EdGasketTheSecond 6th Dec 17, 4:23 PM
    • 323 Posts
    • 181 Thanks
    EdGasketTheSecond
    ii transfer out experiences:
    Family member has had ISA cash transferred but no shares.
    Another member has had his shares lost - gone from old ISA account for two weeks and not appeared in new account
    My own transfer hasn't budged despite submitting the form a month ago. Was told Cash had been completed; it hasn't moved. Was told the cash transfer would be 'rebooked'; it hasn't moved. Total chaos.
    • philng
    • By philng 6th Dec 17, 4:39 PM
    • 533 Posts
    • 49 Thanks
    philng
    Just confirms my initial thoughts of the incompetence of III & why I believe I have chosen the correct decision to transfer out.

    The incompetence is unbelievable & not a firm I want to trust holding mine & wife investments.

    The guy I spoke to at III on Monday was actually arrogant & suggested IWEB must have lost the Valuation sent 9th November. All he wanted to do was blame IWEB. However he was unwilling to provide me evidence that the valuation had been sent.

    It is only today after my calls yesterday (and raised complaint) that we are receiving e mails saying they are sorry for us leaving despite initiating the transfer 6 weeks ago.

    Anyway formal complaints have now been raised with both III & IWEB so I am sure they will now have regulatory timescales in which to resolve the issues.
    • buffman
    • By buffman 6th Dec 17, 5:08 PM
    • 363 Posts
    • 186 Thanks
    buffman
    I too are having similar issues with TD Direct claiming to have sent a valuation but Iweb not receiving it (though I have received conflicting responses from TD Direct - firstly apologising for the delay and later saying it was sent ages ago!)

    Are they dragging this out so that we will have to pay their fees?
    • Chickereeeee
    • By Chickereeeee 6th Dec 17, 5:17 PM
    • 423 Posts
    • 262 Thanks
    Chickereeeee
    I have done two transfers to iWeb in this period (not from III though) and they have gone through quickly and no problems.

    C
    • cloud_dog
    • By cloud_dog 6th Dec 17, 5:27 PM
    • 3,302 Posts
    • 1,861 Thanks
    cloud_dog
    I too are having similar issues with TD Direct claiming to have sent a valuation but Iweb not receiving it (though I have received conflicting responses from TD Direct - firstly apologising for the delay and later saying it was sent ages ago!)

    Are they dragging this out so that we will have to pay their fees?
    Originally posted by buffman
    Please don't tarnish the old TD Direct name ....they were excellent in both capability and service.

    'Tis II/III , the more they change the more they stay the same.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • Economic
    • By Economic 7th Dec 17, 10:03 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?
    Originally posted by Economic
    An update, I am still waiting for the remaining shares to be transferred.
    • philng
    • By philng 7th Dec 17, 2:22 PM
    • 533 Posts
    • 49 Thanks
    philng
    Update.

    ISA shares for myself now showing at IWEB but residual cash not showing in either III or IWEB.

    Wife's account still not transferred despite submitting application at same time 25/10.
    • xylophone
    • By xylophone 7th Dec 17, 5:59 PM
    • 23,633 Posts
    • 13,761 Thanks
    xylophone
    Update ...oh, the horror of it.

    The funds were transferred to iWeb on 27 November but according to iWeb may not actually show in my account until as late as 8 January.

    As for the fairly substantial cash sum which is still with II, ( who told me a few days back that they are waiting for iWeb to tell them where to send it), when I asked i web for an update, iWeb say that II told them that they cannot find my account number....this while I was actually sitting at the computer looking at said account...

    Update to follow (unless I have been carted off to the infirmary suffering from high blood pressure.....)
    • cloud_dog
    • By cloud_dog 8th Dec 17, 8:45 AM
    • 3,302 Posts
    • 1,861 Thanks
    cloud_dog
    At this festive time and in those immortal (changed) words....

    "God bless II, and everyone who invests with them"

    (as a challenge name the novel/film(s))
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • xylophone
    • By xylophone 8th Dec 17, 10:24 AM
    • 23,633 Posts
    • 13,761 Thanks
    xylophone
    At this festive time and in those immortal (changed) words....

    "God bless II, and everyone who invests with them"
    "

    God help II and everyone who invests with them?

    And God bless us everyone.
    • jimjames
    • By jimjames 8th Dec 17, 1:22 PM
    • 12,238 Posts
    • 10,765 Thanks
    jimjames
    I initiated a transfer from Fidelity to iWeb at the end of November and most of the funds appeared in my iWeb account yesterday, the only ones not showing are Fidelity funds.
    It would appear that any delays are not down to iWeb but the other transfer party which probably confirms the experiences here with all the II transfer issues.
    Last edited by jimjames; 08-12-2017 at 1:26 PM.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • mgarl10024
    • By mgarl10024 8th Dec 17, 2:48 PM
    • 604 Posts
    • 419 Thanks
    mgarl10024
    I initiated a TD (III) -> Halifax transfer a good few weeks back.

    The shares came across quite quickly, but the residual cash has taken much longer.

    Halifax say they contacted TD (III) several times but were unable to get a response.
    TD (III) say that they have been inundated, but were aiming to keep to the 6wk timescale.
    Halifax said if TD (III) could send a CHAP payment the cash would come across quickly, but TD (III) said that they had to send an old style cheque as it goes along with the ISA declaration.

    I raised a concern with TD (III) about their charges, and provided I was happy to confirm on the phone that I intended to close the ISA after transfer (I was) then the fees would not be charged from the January date. This made me more relaxed about the whole transfer - I don't mind if they take a few weeks to transfer the cash (small amount) if I am not going to be charged.
    • Economic
    • By Economic 8th Dec 17, 3:00 PM
    • 145 Posts
    • 95 Thanks
    Economic
    TD (III) said that they had to send an old style cheque as it goes along with the ISA declaration.
    Originally posted by mgarl10024
    My cash left my TD/ii ISA one afternoon and was in my IG ISA the next morning so I doubt it was a cheque!
    • xylophone
    • By xylophone 8th Dec 17, 3:32 PM
    • 23,633 Posts
    • 13,761 Thanks
    xylophone
    I have now been advised that II intend to transfer the cash by BACS......
    • EdGasketTheSecond
    • By EdGasketTheSecond 10th Dec 17, 7:14 PM
    • 323 Posts
    • 181 Thanks
    EdGasketTheSecond
    A recent reply from ii as to why nothing was happening on the transfer front:

    "At the moment our transfer team are dealing with a spike of activity due
    to the integration between Td Direct Investing and Interactive Investor.
    Whilst we are doing our best to ensure transfers are being dealt with as
    quickly as possible, such requests are taking longer than normal. The usual
    timescales for a broker transfer is 4- 6weeks.

    If there are any problems with the counterparty we will email you.

    A completion email will be sent upon successful closure of transfer

    A 6 week update will be sent if for any reason the transfer is still
    ongoing"


    Ref: "our transfer team are dealing with a spike of activity"

    hmmm could have seen that one coming without much difficulty
    • Archi Bald
    • By Archi Bald 10th Dec 17, 9:46 PM
    • 9,354 Posts
    • 7,418 Thanks
    Archi Bald
    I posted my transfer request on November 14, and everything had been transferred by December 7. Can't fault them on this occasion.
    • mgarl10024
    • By mgarl10024 11th Dec 17, 11:31 AM
    • 604 Posts
    • 419 Thanks
    mgarl10024
    Halifax said if TD (III) could send a CHAP payment the cash would come across quickly, but TD (III) said that they had to send an old style cheque as it goes along with the ISA declaration.
    Originally posted by mgarl10024
    My cash left my TD/ii ISA one afternoon and was in my IG ISA the next morning so I doubt it was a cheque!
    Originally posted by Economic
    I received an email from TD (III) on Dec 5th which said:
    If we have sent cash to your broker, we will always try to send the cash via faster payment, if they accept payment in this way expect to see the cash on your account within 24 hours.If your broker is unable to accept faster payments then we will issue a cheque, please allow 4 working days for the funds to be applied to your account.
    As I write this on Dec 11th, Halifax is not showing the funds. Therefore I can only conclude that they are being sent by cheque.

    Perhaps Halifax doesn't support Faster Payments, although I find that hard to believe.
    • xylophone
    • By xylophone 11th Dec 17, 11:54 AM
    • 23,633 Posts
    • 13,761 Thanks
    xylophone
    Perhaps Halifax doesn't support Faster Payments, although I find that hard to believe.
    Well, I was told by iweb that II would be making a BACS transfer of the cash - however, the II account page (last before closure) shows a Faster Payment......we'll see.
    • philng
    • By philng 11th Dec 17, 3:47 PM
    • 533 Posts
    • 49 Thanks
    philng
    Update my ISA shares & Cash now showing in IWEB account following complaint last Monday.

    Wife account ISA investments now not showing at either III or IWEB so I assume in process now of transfer so hopefully show on IWEB account tomorrow. Cash still showing in III account.

    Wonder what happens to dividends in next couple of weeks that had already gone Ex Div? I want to now close the III account asap to avoid charges but don't want to mess up any dividends due imminently.
    • xylophone
    • By xylophone 11th Dec 17, 3:56 PM
    • 23,633 Posts
    • 13,761 Thanks
    xylophone
    Wonder what happens to dividends in next couple of weeks that had already gone Ex Div?
    I was told that any monies arriving in II would be transferred to iweb.
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