How long should an ISA transfer take?

fleenio

I opened a santander e-ISA account at 3.3% in May. I sent off the ISA transfer form about a month ago now. Santander have sent me a letter saying they are requesting the funds from my original ISA provider (RBS) for the second time as they have not yet realeased them and they will be in contact soon.

Is there anything i can do to speed this up? is it worth calling RBS? or shall i leave it up to santander to chase up? This is the firs time ive transferred my ISA since i was 16 and it dosent appear to be a straightforward or as quickly as id imagined.

innovate

ISA transfers must be completed within 15 business days, and the new provider (Santander in your case) is responsible for the transfer.

As you can see from documents you find on the BBA website, they also must pay your interest (as per the account you have opened with them) from no later than day 16.

If you search this forum, you will find more information about ISA transfer timescales.

There is nothing you can do to speed things up - - other than perhaps formally complaining to Santander in writing.

ses6jwg

Unfortunately sometimes the sending bank can be reluctant to release funds. You should allow 15 working days for the funds to be sent.

Bear in mind there has been a couple of public holidays thrown in there as well.

Gordon_the_Moron

I opened the Santander Direct ISA (the one you have I assume, you refer to it as an E-Isa but as far as I know that is the only 3.3% ISA they do) it took about 10 days for mine to transfer, they backdated my interest to the day Halifax closed the old account so I assume should do the same for you.