Halifax isa transfer

alex24

I transferred my ybs isa to halifax on 16th April. The cheque was posted on the 28th yet it still hasn't been processed. I have transferred my isa a few times over the years but this seems quite a bit slower than normal. I know there is a back log of cheques that need to be processed but I can't seem to get any answer on the phone or in branch as to how long approximately it will take before it goes into my account? Thanks

TeenWolf

In the middle of April I handed in forms at my local branch to transfer both my Barclays Tax Haven ISA and my old Halifax ISA Saver Direct across to the new Halifax ISA Direct Reward I'd opened online. (Yes, I know now that I could have simply upgraded the Halifax ISA Saver Direct with a quick 'phone call, but I didn't at the time!) It took about two weeks for the funds from the Barclays Tax Haven ISA to be transferred across, but I'm still waiting for those from the Halifax ISA Saver Direct to be moved ... and it's from one of their own accounts!?! I called last weekend to find out what was going on and was initially told they hadn't received the form for the Halifax to Halifax transfer, but then the chap said there was a note on my account to transfer in two other accounts, so obviously they did! Was told it'd be done within three working days, but even discounting the Bank-Holiday Monday earlier this week, they've had longer than that and it's still not happened. Haven't had any problems with the Halifax over the years, but this little episode has soured their reputation a little for me I'm afraid.

opinions4u

alex24 wrote: »

I transferred my ybs isa to halifax on 16th April. The cheque was posted on the 28th yet it still hasn't been processed.

They officially have 30 days to complete the transfer in. That said, I'd usually expect them to bank a cheque received within 48 hours.

I have transferred my isa a few times over the years but this seems quite a bit slower than normal.

It is a busy time of year for ISA transfers.

I know there is a back log of cheques that need to be processed but I can't seem to get any answer on the phone or in branch as to how long approximately it will take before it goes into my account?

The branch won't be dealing with it. I'd ring again on 08456 26 36 46 to chase it up. Suggest that you feel registering an official complaint is needed.

In the middle of April I handed in forms at my local branch to transfer both my Barclays Tax Haven ISA and my old Halifax ISA Saver Direct across to the new Halifax ISA Direct Reward I'd opened online. (Yes, I know now that I could have simply upgraded the Halifax ISA Saver Direct with a quick 'phone call, but I didn't at the time!) It took about two weeks for the funds from the Barclays Tax Haven ISA to be transferred across, but I'm still waiting for those from the Halifax ISA Saver Direct to be moved ... and it's from one of their own accounts!?!

I'm not aware that they will let you transfer from one roll number to another in this way. As far as I'm aware you can have two ISA Direct Reward accounts. Why don't you simply redesignate the original Halifax account (and ask them to backdate to the middle of April)? That way you will effectively have 2 accounts allowing you 8 withdrawals.

Was told it'd be done within three working days, but even discounting the Bank-Holiday Monday earlier this week, they've had longer than that and it's still not happened. Haven't had any problems with the Halifax over the years, but this little episode has soured their reputation a little for me I'm afraid.

Sounds a bit like a "cheque's in the post" fib doesn't it? They are still within the original 30 day period, but I would ring them up to give them a shove, encouraging them to meet the timescales they promised.

TeenWolf

opinions4u wrote: »

I'm not aware that they will let you transfer from one roll number to another in this way. As far as I'm aware you can have two ISA Direct Reward accounts. Why don't you simply redesignate the original Halifax account (and ask them to backdate to the middle of April)? That way you will effectively have 2 accounts allowing you 8 withdrawals.

They didn't tell me there was any issue transferring from one Roll Number to another, just that it hadn't been done yet, but yes you can have two ISA Direct Reward accounts open at the same time. When I called I was given the option to 'upgrade' my existing ISA Saver Direct or to 'merge' the two together. I opted for the later so I would only have the one account, but if it's not sorted in a couple of days I think I might just change my mind!

TeenWolf

Funds from ISA Saver Direct account finally transferred into ISA Direct Reward account earlier this week. Barclays to Halifax took 2 weeks; Halifax to Halifax took 5 weeks ... go figure!?!

OH still waiting for funds from her ISA Saver Direct account to be transferred across to ISA Direct Reward account, despite being told on 04 May 2009 that it would be done within 3 working days! :rolleyes:

opinions4u

TeenWolf wrote: »

Funds from ISA Saver Direct account finally transferred into ISA Direct Reward account earlier this week. Barclays to Halifax took 2 weeks; Halifax to Halifax took 5 weeks ... go figure!?!

OH still waiting for funds from her ISA Saver Direct account to be transferred across to ISA Direct Reward account, despite being told on 04 May 2009 that it would be done within 3 working days! :rolleyes:

Becuase the correct action on Halifax to Halifax has clearly not been taken.

I posted the other day:

Why don't you simply redesignate the original Halifax account (and ask them to backdate to the middle of April)? That way you will effectively have 2 accounts allowing you 8 withdrawals.

It should take them approximately 5 seconds to action in branch or by phone and should show up the next day.

Make it happen.

Doomcow

dude,

i signed my isa transfer form (ybs -> bos isa direct reward) on 27th march.

as of today (50 days later) : my ISA at ybs is still open showing the balance.

apparently they "lost" the form and such but "requested" the money from ybs at start of may - personally i think this was a lie

ScarletBea

I've got around £6800 in the natwest cash isa paying 2.39%, variable.
I'm thinking of transfering to the Halifax fixed at 3%, but the difference after 1 year is "only" £45 - if we think that the rates will start to go up, do you think it's worth it?
Or should I do the transfer for the old amounts but add this year's allowance to the natwest one, hoping that it'll go up?

Baldur

From the rate that you quote, I assume that this includes the 1.76% bonus, which falls away in November/December?

If so, the difference after 1 year could be significantly more than £45 (without the bonus, you'd currently be receiving 0.60%).

Stompa

When I did a transfer to the Halifax some months ago, it took them 70 days to complete the process.

Baldur

Stompa wrote: »

When I did a transfer to the Halifax some months ago, it took them 70 days to complete the process.

Took around a fortnight for a friend of mine at the end of March/beginning of April (from Barclays).