Transfer to natwest e-ISA

wdyw

supersaver09 wrote: »

Update
I received a message about a week & a half ago from Egg, saying my transfer has gone over to Natwest, but still no sign of the actual funds in my e-ISA account!

As I posted earlier in this thread (or a similar one), I got a letter from my original company saying funds were forwarded on the 8th, they showed up in my E-ISA on the 20th! Immediatdly started an enquiry to who was getting my interest (over 50k) for the unaccounted for 8-9 days.

So far it looks like Natwest are in the clear, they received th cheque on the 16th so the 20th seems about right. So I'll be paying my old BS a visit in the near future for their side of the story.

djm1972

DX-SFX wrote: »

I'm doing cartwheels. It went through today. That was seven working days so not too shabby.

Did your NatWest > NatWest transfer happen "instantly" as far as you could tell from online banking, or was your money in limbo for any period?

Did the transfer include accumulated but unpaid interest?

I asked in my covering letter for the original ISA to be closed upon completion of the transfer. Whether or not that will happen we'll see...

raintownjimmy

Does ayone know if you can transfer money into a Natwest E-Isa from previous years WITHOUT opening an E ISA for this year? I wanted to open a stocks and shares (unit trusts) ISA this year but want to move my Cash ISA s from previous years into NATWEST E ISA to get the better rate. But it says I can apply to do that "once I have opened the e isa". Would it be aproblem if I just put £1 into the 09/10 Cash ISA with Nat West? Would that affect what I could buy with stocks/shares? I suppose it would immediately become a mixed ISA of cash and stocks/shares within that year - is the total allowance still £10,200 for the year? (I am over 50). Anyone clear on these rules and can help me please??!!

Kavanne

If you put £1 into a cash isa, you will need to minus £1 from your stocks and shares allowance.

You can't use the extra £1500 allowance until 6th October (this is for cash, it may be different for stocks and shares, I am sure an fa will be along in a min with more info)

masonic

raintownjimmy wrote: »

Does ayone know if you can transfer money into a Natwest E-Isa from previous years WITHOUT opening an E ISA for this year? I wanted to open a stocks and shares (unit trusts) ISA this year but want to move my Cash ISA s from previous years into NATWEST E ISA to get the better rate. But it says I can apply to do that "once I have opened the e isa". Would it be aproblem if I just put £1 into the 09/10 Cash ISA with Nat West?

You don't need to actually put £1 into the ISA to open it, you just need to say you are going to put £1 in (saying you will fund it by cash/cheque). You can then print and submit the transfer form instead of your initial deposit. As long as you don't actually pay any new money in, then your allowances will be unaffected.

Colin_London

My A+L ISA account was closed down on the 7th. Still no sign of the money in the Natwest E-ISA.

How long does the actual transfer take in peoples experience (i.e. the period of time when the money is not shown in either the old or new account).

Can't believe they still use paper cheques in the post in this day and age, but I guess they have no incentive to do it any faster (except of course annoyed customers complaining about the delay).

PotatoPotato

Colin_London wrote: »

My A+L ISA account was closed down on the 7th. Still no sign of the money in the Natwest E-ISA.

How long does the actual transfer take in peoples experience (i.e. the period of time when the money is not shown in either the old or new account).

Can't believe they still use paper cheques in the post in this day and age, but I guess they have no incentive to do it any faster (except of course annoyed customers complaining about the delay).

OMG! I got my money!!! wooooot!
I got a bank statement from barclays saying my account was closed on 1st may.
Money was in limbo for 12 days, I feel so relieved that i got it today. :T

alared

PotatoPotato wrote: »

OMG! I got my money!!! wooooot!
I got a bank statement from barclays saying my account was closed on 1st may.
Money was in limbo for 12 days, I feel so relieved that i got it today. :T

I`m glad you`re sorted out but 12 days lost of interest while they a*se about is an absolute disgrace.:mad::mad::mad:

dazeruk

What does this 30 day period cover?

I currently have a one year fixed rate ISA with Lloyds at 6.5% which matures on the 22 May. In preparation for transferring to Natwest I open an e-Savings account and then an e-ISA in April. My transfer request went with the E-ISA application with a stated transfer date of 22 May. This was sent early April. I not sure whether Natwest would send the transfer request to Lloyds before the 22nd May or not. I think I'm being a bit hopeful to expect they would do this so the transfer would take place exactly on the 22nd. I assume the 30 days is the maximum time that the 'from' provider has to get the money to the 'to' proivder.

Has anyone else in a similar situation had their transfer completed yet?

meggsy

alared wrote: »

I`m glad you`re sorted out but 12 days lost of interest while they a*se about is an absolute disgrace.:mad::mad::mad:

I took two forms into my local branch on 9th April, on which I put 1st May as the transfer date, the first transfer has now appeared in my account plus interest up to the 6th when the old isa was closed and into the new isa on the 12th. Waiting for the second transfer to show up now, the account was closed on the 9th including interest HTH