Cash ISAs: The Best Currently Available List

FishInGlass

rallycurve said:

gwapenut said:

The 15 working days is for the entire ISA transfer process though, with bits of that split between different elements of the ISA transfer process. Not all of those days are for NatWest to squander.

According to this, it's 5 business days for the old provider to send the funds to the new provider.:

 The 15 days are broken down as:

1. The new ISA manager has 5 business days to forward the instruction to you.
2. You have 5 business days to send the funds and information to be provided to the new ISA manager.
3. The new ISA manager has 3 business days to apply the funds to the new ISA.
4. The other 2 days are to allow for time taken for first class post between you and the new manager.

Natwest confirmed they were "progressing the transfer of my ISA" last Thursday 8am. It's now 6 full working days later and the money hasn't moved. I have contacted them and they said they have a large volume of requests and it's taking longer than expected.
Is there a case for a complaint if they take longer than those 5 days? 

I wonder if the large volume of requests has something to do with offering a good 2 year Fixed ISA in 2023 with a specific maturity date. Then not offering any competitive renewal options hence a large backlog of transfers out.. Seems like an accident waiting to happen.

Hope your ISA is transferred soon. Thankfully my money arrived in my new ISA in 3 business days.

rallycurve

FishInGlass said:

rallycurve said:

gwapenut said:

The 15 working days is for the entire ISA transfer process though, with bits of that split between different elements of the ISA transfer process. Not all of those days are for NatWest to squander.

According to this, it's 5 business days for the old provider to send the funds to the new provider.:

 The 15 days are broken down as:

1. The new ISA manager has 5 business days to forward the instruction to you.
2. You have 5 business days to send the funds and information to be provided to the new ISA manager.
3. The new ISA manager has 3 business days to apply the funds to the new ISA.
4. The other 2 days are to allow for time taken for first class post between you and the new manager.

Natwest confirmed they were "progressing the transfer of my ISA" last Thursday 8am. It's now 6 full working days later and the money hasn't moved. I have contacted them and they said they have a large volume of requests and it's taking longer than expected.
Is there a case for a complaint if they take longer than those 5 days? 

I wonder if the large volume of requests has something to do with offering a good 2 year Fixed ISA in 2023 with a specific maturity date. Then not offering any competitive renewal options hence a large backlog of transfers out.. Seems like an accident waiting to happen.

Hope your ISA is transferred soon. Thankfully my money arrived in my new ISA in 3 business days.

Exactly my thoughts. And they should not be allowed to benefit from it. It is their mistake, not ours. I'll see how it goes but I'm likely raising a complaint about it

HHUK

Shedman said:

Ignore that ...that was Virgin to Vida (senior moment..had a number of transfers going around the same time ).  Still waiting for NW and RBS to Shawbrook

Virgin to Vida

May I ask: Did you request that transfer as part of the application process, or by sending Vida a transfer authority form after opening the account?

Archerychick

HHUK said:

Shedman said:

Ignore that ...that was Virgin to Vida (senior moment..had a number of transfers going around the same time ).  Still waiting for NW and RBS to Shawbrook

Virgin to Vida

May I ask: Did you request that transfer as part of the application process, or by sending Vida a transfer authority form after opening the account?

Mine was done after the account was open, transferring into my easy access isa 

Shedman

HHUK said:

Shedman said:

Ignore that ...that was Virgin to Vida (senior moment..had a number of transfers going around the same time ).  Still waiting for NW and RBS to Shawbrook

Virgin to Vida

May I ask: Did you request that transfer as part of the application process, or by sending Vida a transfer authority form after opening the account?

As part of the application process. Although it's now moved onto Cynergy due to Vida dropping their rate (so was there for a whole 5 days  )

And on a different note I'm pleased to say the both transfers from the RBS (on Weds) and NatWest (today) to Shawbrook have now completed.

soulsaver

Lloyds EA ISA to Cynergy ISA 56

Partial transfer request (at application) 5 fig sum submitted to Cynergy 10/09 17:30hrs online.
Funds credited at Cynergy today 12/09 13:30hrs. ... dated 10/09...

nomorekids

Hurray finally our Nat Wests have transferred, only took daily chats reminding them they were way over their 15 days but yippee done now  

10_66

Cynergy
A few months' ago I asked Cynergy if it was possible to open a Cash ISA with them (no new money to be paid in), and then transfer previous years' Cash ISAs after it had been opened.  I was told by them that this wasn't possible and that you had to initiate the transfer in during the opening process.  However, looking at their website today it appears that you can open first and then request transfer after the account has been opened.  Can anyone confirm, please?

Aidanmc

10_66 said:

Cynergy
A few months' ago I asked Cynergy if it was possible to open a Cash ISA with them (no new money to be paid in), and then transfer previous years' Cash ISAs after it had been opened.  I was told by them that this wasn't possible and that you had to initiate the transfer in during the opening process.  However, looking at their website today it appears that you can open first and then request transfer after the account has been opened.  Can anyone confirm, please?

From Cynergy FAQ
If you wish to transfer current year subscriptions, you must do so at the point of application in full. Previous year subscriptions can be requested as partial or full transfers at application or in online banking once the account is opened.

Sometimes responses from banking agents can be misleading.

10_66

Shawbrook
I understand that others here have successfully transferred into existing Shawbrook fixed rate ISAs after the 14 day opening window has expired (I mentioned here a week or so ago that Shawbrook told me I couldn't do this).  Just checking to see if anyone who has tried to do this has been unsuccessful.  What I wouldn't want happening is arranging for a closure and transfer in, and then it being declined by Shawbrook.  I have one that matures next April (4.50%) and now another that matures next August (4.31%).