ISA transfer error and helpline

dkldn

Made a stupid error when transferring ISA from a bank to another bank. Have saving and ISA at bank A. When trying to transfer ISA to bank B, put the saving account by mistake. Now saving at bank A was closed, and full amount was transferred to ISA at bank B. Staff at bank B could not help much even after call its HQ. Tried ISA helpline ( http://search2.hmrc.gov.uk/kb5/hmrc/contactus/view.page?record=agUO91tWzfU&titleindex=0 ). Waiting on the line for over 20 minutes now.

Thanks,
Derek

lisyloo

and full amount was transferred to ISA at bank B

Do you mean the full amount was tranferred to your savings accounts by mistake (yours) rather than the ISA as you intended?

dkldn

no. Say I have 15K saving and 17K ISA at bank A. Of course I wanted to transfer 17K ISA to bank B, but what happened is that my saving account (15K) was closed, and got transferred to my new ISA account at bank B.

lisyloo

Bank A should not have transferred your (non ISA) savings with an ISA transfer form and all the accompanying paperwork/declarations even if you did make a mistake.

I would ask Bank A to "recall" the money.

dkldn

thanks lisyloo. might go to a branch of bank A and ask why this could happen, although not sure they will handle my (actually my wife's) case because the account was opened online.

really frustrated by HMRC helplines. Had to hang up after over 10 minutesfor the first call. Second time have waited over 20 minutes. Waited for over 30 minutes after 2pm. Think i'm going to write a complaint letter to it.