ISA transfer times

nearlyretired2004

Has anybody any recent experiences with ISA transfers (particularly Santander => Halifax) and whether times are improving towards the 15 day industry standard due to be in effect by the end of the year ? Mine has been 10 days so far.....

Also in passing have been a bit worried by the thread I've just read on Halifax arbitrarily changing ISA's into saving accounts .... just going to give them a ring and make sure theyre happy they have my NI number!

Old_Slaphead

nearlyretired2004 wrote: »

Has anybody any recent experiences with ISA transfers (particularly Santander => Halifax) and whether times are improving towards the 15 day industry standard due to be in effect by the end of the year ? Mine has been 10 days so far.....

Also in passing have been a bit worried by the thread I've just read on Halifax arbitrarily changing ISA's into saving accounts .... just going to give them a ring and make sure theyre happy they have my NI number!

About 3 months ago my Santander-> Nationwide took 2 to 3 weeks

Stompa

I did a Santander to Halifax transfer earlier in the year, which I think took between 7 and 10 days. Since Halifax actually start paying interest from the day they receive the transfer form, it's actually to your advantage if they're slow. That way you maximise the period of time where both Santander & Halifax are simultaneouly paying interest.

charlieboycat

Mrs CB has just done one from Halifax to Nationwide. Application form was posted to Nationwide on 16 June requesting transfer "at maturity on 4 July" (the Halifax was a 2-year fixed rate). Nationwide acknowledged by letter dated 20 June. Halifax posted a cheque (!) to Nationwide on 6 July which Nationwide processed to Mrs CB's account on 8 July,

Nationwide credited the transfer-in cheque with an effective date of 22 June (the date they processed the application form) - so earned 6.6% (3.5% from Halifax plus 3.1% from Nationwide) from 22 June to 4 July (but only 0.1% from Halifax for 5+6 July).