Leaving HL without transfer charges

Deneb

Doctor_Who wrote: »

My situation is slightly different.....my ISA transfer to II is complete, all my cash and funds appear in my II account and II tell me the transfer is complete......however, £100K of funds are still showing in my HL ISA, and this is a week or two after these funds appeared in my II account. Hence I can't close my HL ISA.

My funds were showing in both my HL and CSD accounts for about 3 weeks before the transfer completed, and apparently available to sell or switch in both. I thought it best not to touch them until CSD confirmed completion.

organic_wanabe

We had a letter today from HL indicating that DH's transfer to II is complete and true enough his balance on HL is now zero although there is still £58.40 showing as Pending Loyalty Bonus. His Fund & Share Account appeared on II a few weeks ago as his Trading Account but there is no sign of his ISA. No doubt it will appear within the next week or so. My Fund & Share Account has also appeared on II but my ISA seems still to be with HL although all transfers (DH and mine) were initiated on the same date (19th February). I phoned HL a couple of weeks ago to chase things up so not sure if that made any difference.

Another letter also arrived attaching a cheque for £594.98 which was the balance that had accrued within DH's Loyalty Bonus Account which could not be sent to II for some reason. Since I have been in spending mode post-RDR (got really pi**ed off trying to work my way through which platform to move to etc. and ended up spending our 2013/14 ISA allowances on a car!) thinking of spending this money on something nice rather than squireling it away in my usual fashion.

tightfisteddave

So two transfers on the go with two complaints to waive exit charges.

10-Apr. Transfer 1. Complaint to HL via secure message
13-Apr. Transfer 2. Complaint to HL via secure message

OK - as other suggested I received two x standard letters from HL dated 17-Apr and arriving 18-Apr. No reply to the secure message to say that they acknowledged my message and were writing to reply. I find this a bit strange. Why not simply reply to my secure message.

Anyway the standard letter contained the...

"...I can confirm that we have taken legal advice blah blah blah. Essentially the rules indicate that provided the charges are made for a valid reason which is specified within the contract and that the requisite notice has been provided there is no requirement for us to waive our exit charges"....

and

"In your case however we recognise you feel strongly.....blah blah blah, gesture of goodwill waive our transfer charges for any transfer received within 1 month of date of letter"

The first complaint I made was on my sisters account which had just one fund in an ISA. The second complaint was on my fund which had an ISA and a SIPP. I specifically mentioned that I was not happy with the ISA charges in my second message as I have no intention at present to close the SIPP.

Their standard letter stated that the "new charging structure is not applied to your account while the transfer takes place". So it will be interesting to see if they freeze the charges on just the ISA or whether they freeze charges on the whole account including the SIPP.

Letters posted to Cavendish Online today so just need to settle back and wait a few weeks/months for transfer to happen now.

bossymoo

I initiatiated a transfer (2 actually, ISA and fund & share) to II from HL. I have secure messages from II acknowledging the transfer requests, but nothing on paper and nothing from HL.
I did the standard complaint about fee structure and got the standard response (ie we'll waive but we don't have to) yet I can see in my HL accs they have charged me the platform fee

ETA: it seems to be equivalent to a quarter of the .45% although most (3/4) is from the ISA even though cash was available in both and the F&S value is higher :huh:

samcrawford

Transfer from HL to III has now taken 10 weeks and counting. Late last week part of my ISA with HL vanished, but has yet to appear with III. The SIPP and fund account have yet to be touched.

I cannot believe it's so slow!

rpc

I'm 8 weeks into an HL to ATS transfer. ITs transferred after maybe 4 weeks.

The OEICs are now starting to move - some show on both platforms, one shows only on ATS, two are only on HL.

HL are keeping the little cash that I have in my account until the last minute it seems!

fozzeh

rpc wrote: »

I'm 8 weeks into an HL to ATS transfer. ITs transferred after maybe 4 weeks.

The OEICs are now starting to move - some show on both platforms, one shows only on ATS, two are only on HL.

HL are keeping the little cash that I have in my account until the last minute it seems!

Standard practice.

LHW99

I also started my SIPP transfer from H-L (to II) in February.
Sent H-L a secure message 2 weeks ago since nothing was happening, and was assured the stocks would transfer last week, but the fund timetable was unknown - apparently dependent on the fund managers - who presumably haven't had a letter yet!?
Today I got an apology from II for the slow transfer, basically saying they had been chivvying H-L with no effect, so perhaps I'd like to have a go.

I feel a message of complaint coming on ...............

gterr

Had an email from Charles Stanley Direct (to whom I've transferred my ISA from HL) confirming that my funds have transferred over, but asking me to check if anything was outstanding. I told them the cash was still stuck at HL (been there weeks now, despite assurances from HL that the cash would transfer over "within a few working days"). CSD have offered to chase it on my behalf. I've also sent HL yet another secure message to ask why there is such a big delay. Looks like HL is the slowcoach when it comes to transfers to CSD and to iii.

Doctor_Who

LHW99 wrote: »

Today I got an apology from II for the slow transfer, basically saying they had been chivvying H-L with no effect, so perhaps I'd like to have a go.

Ditto here......secure message sent to HL this evening asking if there was anything else I could do to speed up the transfer of my SIPP