first direct transfer question

welshguy_456

Hello, i was going to transfer my barclays golden isa to first directs isa last night because of the better rate etc, it says you can transfer into the first direct isa but where do you actually do the transfer? is there a tick box to say you want to transfer while you apply? ie i dont notice any transfer button, just apply, and when you do click apply it goes through the rules of opening isas like you can only subscribe to one a year. any help from people who have actually switched to first direct would be much appreciated. Thanks, ps this is my first ever transfer, sorry for rambling!

Baldur

FD send you an application pack after you complete the online form - there is a tick box in the postal application documentation, which you select if you want them to send you a transfer form.

Simstwins

You need to complete the 'online' application. This is then printed and sent to you for signature. On the form that they send there is a tick box to request the ISA transfer form. Once the initial application form has been returned with the box ticked, the ISA transfer form is then sent to you for completion. This is then returned to First Direct, then they act upon the ISA transfer request.
Long winded I know, but for me it all pretty much happened by return of post. The return envelopes for First Direct were enclosed as prepaid on both occasions.
I hope this helps

welshguy_456

brillaint, thanks both for the quick replies

lisyloo

My money has jsut dissappeared from Nat West and not yet arrived at FD.
Is this normal?
Quite worrying when it's a 5 figure sum :eek:

opinions4u

lisyloo wrote: »

My money has jsut dissappeared from Nat West and not yet arrived at FD.
Is this normal?
Quite worrying when it's a 5 figure sum :eek:

ISA transfers are usually sent by BACS or cheque. So the answer to the question is yes!

The money will disappear in to the ether for 3 working days if it's BACS.

If it's cheque ... I'd suggest you ring the postal unions to get an idea.

lisyloo

BACs between nat west and FD is normally immediate (I presume that's what I'm using when I make a payment/transfer online), so they use the faster payments system.

bigbullyweedave

Completed the online FD form yesterday to do some transferring to it. Why do they ask so many questions about employer, salary etc. just to open a bank account? Is this standard practice for opening ISAs? For fraud reasons maybe? Felt like I was applying for a loan rather than a savings account!

Baldur

bigbullyweedave wrote: »

Completed the online FD form yesterday to do some transferring to it. Why do they ask so many questions about employer, salary etc. just to open a bank account? Is this standard practice for opening ISAs? For fraud reasons maybe? Felt like I was applying for a loan rather than a savings account!

Not standard for ISAs, but standard for First Direct ISAs.

Simstwins

lisyloo wrote: »

My money has jsut dissappeared from Nat West and not yet arrived at FD.
Is this normal?
Quite worrying when it's a 5 figure sum :eek:

Lisyloo - I'm in this boat too. My ISA at Natwest was closed on the 6th of October - the money hasn't made it to First Direct as yet. I raised a concern with Natwest last Friday - as I'm not sure if it can be postal related, my closing statement arrived with no problem. I am waiting for a call back.
It's beyond my belief why they continue to send each other cheques for account closures and transfers - I'm not going to let it go - oh and yes mine is for a 5 figure sum too!:eek:

Porcupine

Baldur wrote: »

Not standard for ISAs, but standard for First Direct ISAs.

Yes, I had that. They contacted my employer (who are terribly bureaucratic) and ask for proof that I worked there, and after some days the records department said they couldn't answer, so I had to get my boss to fax them a letter. Took about 2 weeks of delay (and some unnecessary work for my boss)