How long to transfer ISAs?

pro_bono

Yep, I must have missed somthing as I am in the process of transferring from Abbey National to Halifax. Six weeks so far no notification from H/Fax that all is in place. If you advertise a good return for your ISA, DO YOU NOT EXPECT A RUSH OF APPLICANTS??????
Lesson learnt, but is it greed to move your money, to get the best return???

codetown

Regularsaver1, never expect others to do the job better than yourself!
It is you who have more interest on your money, not the next joe bored at A&L!!!
By far I would recommend whoever can to go directly to their OLD provider with clear written and dated instructions.

This will certainly eliminate one round of delays and will certainly do not raise excuses from your old providers who will not be able to say anymore things like: 'i never received your transfer request' etc... With a written and dated transfer order you will also have a further weapon to fire if/when things go wrong. And you will know exactly which party is faulty.

And to be fair in my case, Nationwide moved pretty quickly when I asked them to move my ISA money out to A&L.

schiff

Not a bad idea too to calculate the lost interest during the xfer and, if it's more than £1 or so, see if you can pin it onto one of the banks etc concerned, for the part they played in the loss.

I've done it in the past and been paid some level of compensation with which I've been pleased.

JEC

Ian_W wrote:

@JEC. Whilst I take all your points about Chris and his manager, with some trepidation!! If HBOS messed up the form, that's hardly A&Ls fault they had to send it back.

No, but they should have a procedure in place to make sure that the original provider is aware of whats happening in case the documentation goes astray in the post.