Cash ISA Transfer from Smile to Halifax

parcival

At the begining of December I set up a 2 year fixed rate ISA with Halifax. It was to be funded by a transfer in from an existing ISA with Smile that had built up over many years.

The Halifax said that they would honour the then current fixed rate for 60 days to give time for them to obtain the money from Smile.

I duly completed all the forms and sent them back to Halifax. After 4 weeks I noticed that Smile had removed my ISA account and upon further investigation they say they sent a cheque to the Halifax on 2nd January.

Upon checking with the Halifax they have not received it. The expiry of the 60 day rate guarantee is not far away.

Has anyone else had a similar problem or can advise. I thought that rules existed to stop such a ridiculous problem occuring.

pressuredrop_2

Nowt unusual in your post. 60 days for an ISA transfer, etc. etc.

opinions4u

parcival wrote: »

At the begining of December I set up a 2 year fixed rate ISA with Halifax. It was to be funded by a transfer in from an existing ISA with Smile that had built up over many years.

The Halifax said that they would honour the then current fixed rate for 60 days to give time for them to obtain the money from Smile.

I duly completed all the forms and sent them back to Halifax. After 4 weeks I noticed that Smile had removed my ISA account and upon further investigation they say they sent a cheque to the Halifax on 2nd January.

Upon checking with the Halifax they have not received it. The expiry of the 60 day rate guarantee is not far away.

Has anyone else had a similar problem or can advise. I thought that rules existed to stop such a ridiculous problem occuring.

I would ring the Halifax first on 08457 26 36 46, to see if they've received the cheque. Make a note of who you've spoken to, and the date, to ensure that you can show them that they clearly need to honour the rate pledge.

If they haven't received it, ask them to chase it up for you with Smile. They have a specialist team that looks after ISA transfers, so should be able to do this.

It looks to me like Smile have been the slow party here.

cottager

The Halifax ISA Promise is here, if it helps to throw in a few phrases from it when you call:
http://www.hbosplc.com/media/pressreleases/articles/halifax/2008-08-27-TheHalifax.asp?section=Halifax