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Electronic Isa transfers launched - are they any faster?

Former_MSE_Guy
Former_MSE_Guy Posts: 1,650 Forumite
I've been Money Tipped! Newshound! Chutzpah Haggler
in ISAs & tax-free savings
This thread is to discuss the following news story:
Electronic Isa transfers introduced

OfficialStamp.gif

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    BACS will take as long as a cheque in the post.

    Just less risk of losing it, or not opening the envelope!

    It all boils down to how many staff these firms have to process ISA transfers. If they don't have enough, it goes wrong.

    In the great scheme of things, this change will make little or no difference.
  • obsessed_saver
    obsessed_saver Posts: 511 Forumite
    Part of the Furniture
    Hmm. Maybe this is why my transfer from Lloyds to Natwest seems so fast!

    Lloyds closed my FRISA account on Friday 27th March, and the money appeared in my Natwest e-ISA account Tuesday 31st March.

    Barclays closed my Tax Haven ISA account around the 23rd of March, and it still hasn't appeared in my Natwest e-ISA yet.
  • oxenryd
    oxenryd Posts: 478 Forumite
    Are we sure this isn't an April's Fool Joke ? Seems a little bit too good to be true.

    Let's wait till tomorrow. If it is true then why don't they set out a timeframe, let's 5 working days.
    Originally Posted by Dr Cuckoo3
    Your bank and bank card does say something about the kind of person you are: Big 4 banks=sheep;),Santander=someone who doesnt mind incompetence:p,COOP=Ethical views,a campaigner:cool:,First Direct/Coventry=someone who thinks they are better than others:o,NI Bank card when living on the mainland=Aspergers :D
This discussion has been closed.
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