Iii

planteria

it really is hard going. just been your first 'Like'er, Ed;)

i had to choose which SIPP payment plan to go on this week too. a reduction in the annual fee, with additional quarterly fees which come with trading credits.. what have other folk opted for? i went for 'existing deal' (at this stage) as i am currently planning to just hold one fund in my SIPP

stringer_bell

so, I sent a formal complaint, this is response. Does anyone know the correct isa transfer address for natwest?

"I am sorry for the delay in concluding your Natwest Cash ISA transfer. I have viewed our database and spoken with our Transfers team and they have confirmed the request and subsequent chasers have been sent to the following address:

Natwest Investment Fund Ltd
PO Box 9908
Chelmsford
CM99 2AF

If Natwest have advised they have not received any of our correspondence I would ask that you confirm with Natwest the correct address to send our correspondence to and we will arrange for this to be as soon as possible."

masonic

stringer_bell wrote: »

so, I sent a formal complaint, this is response. Does anyone know the correct isa transfer address for natwest?

That address is clearly not correct for a Natwest Bank cash ISA, which should be obvious from the first line.

The correct information is not hard to find (as pointed out, this is the registered office and not necessarily where ISAs are managed, but at least it will be redirected to the correct place).

NatWest ISA Office
Princess House
27 Bush Lane
London, EC4R 0AA

Edit: or you could try the address from their ISA transfer in form:

NatWest, Retail Processing Operations, Chatham, Waterside Court, Chatham Maritime, Chatham ME4 4RT

You could probably even use your local branch address.

Edit 2: Followup question - which address did you give them in the "Your Current ISA Manager’s Details" section of their transfer form? I'm guessing not the one they've been trying to use?

masonic

Poking around the II site, I came across an interesting table of transfer times on their transfers page, which might be of interest to some.

[B][U]Type of holding           Typical transfer times[/U][/B]
Cash	                  Within 15 working days*

UK equities - eg stocks   Within 8 weeks
listed on the London 
Stock Exchange main 
and AIM market	

International equities	  Within 8 weeks

Funds and/or OEICS	  Within 8-12 weeks as a target but can
                          take longer**

*Some brokers will hold cash until the entire transfer process is complete to secure any transfer costs or outstanding fees.

**Funds and/or OEICS can take longer to transfer as there are a number of third parties involved, including your existing broker, the fund manager, transferring agent, fund custodian and ourselves.

xylophone

Have you kept a copy of the transfer form you submitted to II?

2shy

And finally ... after 6 months of waiting.. my transfer is complete.

I could have done without the hassle. I just have to look at the money I am saving.

xylophone

I just have to look at the money I am saving.

Laughing all the way to the bank?

Or a case of "If you didn't laugh, you'd cry....":)

2shy

xylophone wrote: »

Laughing all the way to the bank?

Or a case of "If you didn't laugh, you'd cry....":)

I think its option 2.

SIPP is only about 66k... so at HL that equals £297
At II I am currently £144

I was looking to move some ISAs there and benefit from it not costing any more to hold them there... but put off with the whole transfer debacle.

DiamondLil

Thank you 2shy - I am encouraged by your post.
Five and a half months in, and almost all my funds have transferred. I'm still waiting for two unwrapped funds to move over; of these, one fund requires me to send a completed stock transfer form which I have now done for the third time.....
The other fund ? This is a copy and paste of the message received from III this morning.

"I can confirm that our Transfer Team has chased with the fund platform provider, FNZ. They have confirmed that they have not received the funds from Invesco. After further investigation with Invesco, it was discovered that Invesco had re-registered funds incorrectly. Invesco have advised that they will escalate this matter internally and correct the re-registration. This process could take up to 15 days, however, they will try to process this as quickly as possible."

So, with luck, I too may only have to have waited for six months.

Borrowedtune

My monthly SIPP deduction is now arriving in my ii account about 3 days faster each month than the equivalent deduction that goes into my wife's HL SIPP, even though the payments go out of the same Santander business account on the same day.


When I first set up my SIPP it was taking about the same length of time, now ii are quicker.


So, some evidence at least that ii can be efficient when they want to be.