Hargreaves Lansdown issues.

westendguy

I have a regular monthly investment plan with Hargreaves Lansdown, and my monthly direct debit is normally taken on 7th of each month or the nearest working day. This month however my payment was taken 2 days early on 5th and 2 days later has still not been credited to my HL account.

I made 2 phone calls yesterday and was told by their customer advisors

"Are you sure it was Hargreaves Lansdown as we normally take payments on 7th"

"Its probably working its way through the system".

I then emailed HL yesterday evening asking them to confirm they had received the payment. To be fair I received an almost instant reply apologising, confirming that an error had occured and assuring me they "are currently in the process of adding this collection to your ISA".

It is still not there.

This is not the first time I have had issues with my HL monthly investment plan. A few months ago the monthly amount mysteriously changed from £100 to £250 (the amount I had invested the previous month) without any authorisation from me, before reverting back to the correct amount, but not before I had cancelled the direct debit.

Very very poor.

Lokolo

I wouldn't worry about it until the 10th. As that is when they buy the stock.

westendguy

Many thanks for that Lokolo. Just checked again but its still not there.

I appreciate that HL dont pay interest on cash held on account, and I dont have a problem with them taking the money earlier, but its a bit worrying if it may have effectively disappeared for 5 days.

It seems however that no-one else here has experienced the same problem.


Update: Just again checked and its there now (sigh of relief).

Lokolo

I don't have my regular investments on at the moment, but I've never had them take money before the 7th, even on weekend they took it after (well pretty sure anyway!).