We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Leaving HL without transfer charges
Options
Comments
-
Doctor_Who wrote: »I started my transfers in February, fully expecting them to be complete before the new HL account closure fees are introduced in June. HL have agreed to waive my exit fees but my HL ISA is still showing a fund, despite the transfer being complete weeks ago and my HL SIPP has yet to even start making a move. So, does anyone know where I will stand with regard to account closure fees?
My transfer is still ongoing although all the funds have now transferred with just the cash remaining.
My letter agreeing to waive exit fees also states that they will ensure their new charging structure is not applied while the transfer takes place.
From that I don't expect to be charged an account closure fee, if I am I will be sending another complaint.0 -
My transfer is still ongoing although all the funds have now transferred with just the cash remaining.
(If all the funds and all the cash have gone, they have nothing to take any fees from!)0 -
I now have 75% of my ISA successfully transferred to IWEB, together with uninvested cash, and 25% in the ether somewhere between HL & IWEB. Even though I'm only invested in 1 fund, I'm not worried. Yet :eek:
The missing 25% approx of the single fund in my ISA still hasn't turned up at IWEB, despite disappearing from my HL account on 12 May.
IWEB told me they had only been notified about the 75% of my fund (which has transferred) and suggested I chase HL about the missing investment. HL haven't replied to a secure message sent on 15 May.
Is it normal for investments to simply disappear between providers? If so, for how long?0 -
badger09 - over £80k of my husband's M&G ISA funds disappeared from HL around 7 weeks ago and still have not appeared with II (strangely one M&G fund is showing up with II, so why not the other 2?). His H-L account is still open showing a zero balance. When he asked H-L to close it before the closure fee date in June, they say it will stay as it is so he can look at the transaction history, but no fees of any sort will be applied. My ISA funds started disappearing from HL around 3 weeks after my husband's (even although we initiated the transfer on the same date), and all mine are now showing on II.0
-
The missing 25% approx of the single fund in my ISA still hasn't turned up at IWEB, despite disappearing from my HL account on 12 May.
IWEB told me they had only been notified about the 75% of my fund (which has transferred) and suggested I chase HL about the missing investment. HL haven't replied to a secure message sent on 15 May.
Is it normal for investments to simply disappear between providers? If so, for how long?
A similar thing happened to me, except mine have disappeared for weeks. When I contacted II they told me that they knew nothing of the missing fund; it wasn't in HL's valuation. Fortunately I had a screenshot of the original account page from HL, so I was able to demonstrate that it was originally there. II contacted HL, who admitted they made a mistake on the valuation, and (apparently) it's all going through now...
So if I were you I'd get them to double-check the valuation that HL sent them for errors. I'd send iWeb a copy of what _you_ think should be transferred across.0 -
organic wanabe & samcrawford
Thanks for posting your experiences - reassuring to know I'm not alone
What puzzled me was that the original tranche disappeared from HL and appeared on IWEB on the the same day, whereas the 2nd tranche has gone awol
My ISA account with HL is still showing, albeit with a 0.00 balance, but I have plenty of downloaded (and printed) statements, so I can prove how many units should have transferred.
I'll give them a little longer, then write to HL, rather than send a secure message.0 -
I have just phoned II to double check that they are indeed expecting the £80k from M&G. They confirmed that they are but that it is taking some funds managers an absolute age to re-register the funds. I suppose that we have no alternative but to be patient as there seems nothing we can do about it. It is infuriating as we want to use this quarter's 'commission credit' to re-organise.0
-
Eleven weeks into transfer of two ISAs & one Fund/Share account from HL to II!
One ISA transferred within eight weeks and finalised with cheque for loyalty bonus and transaction statement from HL.
But the other two accounts had one fund each left in them - so I've sold them and asked HL to transfer the cash - Ive waited too long.
However, another fund appears in both HL & II, and another appears in neither! So, probably more hassle to come - I've informed HL & II.
Conclusion: in specie transfer is not worth the hassle. Better to sell the lot and be out of the market whilst the cash is transferred. I've lost money through holding back on dealing awaiting the transfer.
The procedure is useless - & it seems to be the fund managers causing the hold ups with a little help from HL.0 -
Has anyone closed their account yet? My transfer is now complete so I've wrote off to HL to close it as I believe there are some nasty closure fees starting in June. It will be nice to stop getting that junk in the mail every month too.
My SIPP Drawdown Account was closed in early April, but the transfer to ATS is still not complete, so I've been paid no pension for two months now.
What would HL staff do if they weren't being paid their monthly salary?
How should I go about raising a complaint to the regulator? HL haven't responded to a letter written over a month ago, although it was obviously received.0 -
That's shocking!
I have just checked now, my fund and share acc is closed, the cash was moved and is showing in II (cheque to clear) however half of my funds are still awaiting re-registration and show on neither platform :eek: I have just one fund left in my HL ISA and some cash, so am *almost* there in exiting HL. II so far have been helpful, only contacted via secure message but they've moved funds that should have been marked as ISA into the right place, and seem to be referring to my list as new ones come in :T
I'm only at 7 weeks now too. But I do keep nudging both sides with little messages. I am a pest, I'm sure, but I figure it's the only way to keep things moving!Bossymoo
Away with the fairies :beer:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards