IMPORTANT! FSCS Icesave payouts to start in November...

Baldur

Stormy wrote: »

...although I am sure they can refuse for any reason....

ISA providers are not obliged to accept transfers - http://www.hmrc.gov.uk/ISA/isa-guidance-notes-2008.pdf

Transferring an ISA
11.1 Investors can transfer
• current year ISA subscriptions and the investments bought with those
subscriptions in whole, and/or
• previous years ISA subscriptions and investments in whole or in part
to another ISA manager at any time. If the investor only has current year
subscriptions the entire account must be transferred.
However, ISA managers are not obliged to accept transfers in.

Stormy

Baldur wrote: »

However, ISA managers are not obliged to accept transfers in.

Are they allowed to accept *some* but not others, i.e ones from Icesave? Isnt that descrimination? I suppose if you could be bothered you could set up an ISA elsewhere and then transfer to Natwest, so what are Natwest saving by penalising Icesavers?

Like Optimist says, I guess its just a case of waiting for the certificate and seeing how the banks look at them.

Baldur

Natwest specifically state that they accept ISA transfers, some other ISA providers specifically state that they do not.

zoebel

Nick_Fel wrote: »

I've just been into Natwest... after struggling for a while with someone who didn't seem to be aware of any banks collapsing (I had to repeat "Icesave" three times for her), she called someone else over. They'd already had the same inquiry from someone else and checked with HQ, who told her that our transfers will not be elligible for the bonus because of the way its transfered in.

Anybody had a different experience?

The trouble with Nat West is they don't have a clue how to deal with ex Icesave ISA customers. It all depends on who you get as to what they say. It seems like this is incorrect information that you have received. It is always going to be a transfer, its just that it is not getting to them the normal way. I'm sure, once they see the ISA certificate they will view things differently. It seems that they need to decide on a universal way of dealing with things and train their staff accordingly.

My own experience is I've opended 2 ISAs, 1 for me and 1 for my wife and we have both complete transfer forms clearly stating Icesave as the current provider and handed them in. Mine is a second request, after the first failed. After been given the right runaround by the girl on the front desk (as you always do, whoever you bank with) I spoken to the branch manager at the Bishopsgate Branch in the City of London who has spoken to head office who say that I should get the bonus of 1.76% as long as I get my money back and the certificate within 30 days of transfer form has been handed in on November 5th. In the meantime I'm just waiting for my money back!

drsue_2

Halifax have opened me an isa over the phone today ready for my transfer in when I receive my funds/certificate. They couldn't have been more helpful. Also have guar
anteed I will get the fixed rate (todays rate) as long as I get my funds to them in 60 days.I have opted for 4 year fixed ISA at 5.45%. I know it's not the highest now but have a feeling if I leave it in 1 year and then move overall this may be the best bet.
Shame I appear to have mislaid my crystal ball!