Clydesdale/Yorkshire Bank ISA transfer delays

iwant2asave

Hi,

I sent my completed ISA transfer form on 7th April (by handing form into branch to be posted) and it is still not transferred yet. I received a letter on 14th April saying they received it that day (7 days after handing into branch).

Has anyone else had similar delays or gone through quicker with Clydesdale/Yorkshire Bank ISA transfers? In the past I have had ISA transfers with other providers have gone through within 2 weeks at the most.

I'm getting a measly 0.5% from my current provider until the transfer goes through so hoping it goes through ASAP.

Sam

MARTYM8`

When I opened my ISA with them it took nearly 3 weeks for the transfer to complete – I did a similar transfer with my bank around the same time and it took 4 days.

I expect they are busier now due to their 17 April cut off for transfers in.

So don’t worry – they are just a bit slow!

beefturnmail

Yep me too - letter dated 15th April. Nothing yet. Hopefully they won't be so slow in processing straight deposits. Maybe they need 40 days notice for everything l:D

Yorkshire_Pud

I sent my completed transfer form to YB using their supplied First Class Post envelope ten days ago. I phoned to check on progress at the weekend and they said they don't have it.

I got proof of posting, I know it went in the mail sack behind the PO counter. They duly sent out more almost blank forms for me to re fill and I've sent it off again.

From now I'm expecting about two weeks to process, they ain't the fastest, in fact I think they are the slowest. They are very busy of course;)

Then the other bank has up to 15 days from request by Yorkshire Bank so that will be within 24 hours in my experience.

The delays are all Yorkshires. I have politely suggested backdating my interest to when they would have got my first application.

I like to think they are charmingly old fashioned, so that I don't start hitting my head against the wall:o

iwant2asave

Still no sign of the transfer going through - just called Clydesdale and they said they are waiting for the current provider to send the funds and the current provider has 15 days to do so.

Interestingly they couldnt tell me when they had asked my current provider to do so...given that I handed my form into the branch on 7th April and I received a letter from Clydesdale on 14th April with my account number then I would have thought that 15 days were already up.

Has anyone who has applied for a Clydesdale/Yorskhire Bank ISA transfer within the last month actually had theirs go through yet?!

iwant2asave

iwant2asave wrote: »

Still no sign of the transfer going through - just called Clydesdale and they said they are waiting for the current provider to send the funds and the current provider has 15 days to do so.

Interestingly they couldnt tell me when they had asked my current provider to do so...given that I handed my form into the branch on 7th April and I received a letter from Clydesdale on 14th April with my account number then I would have thought that 15 days were already up.

Has anyone who has applied for a Clydesdale/Yorskhire Bank ISA transfer within the last month actually had theirs go through yet?!

Futher update - just called my existing provider who claim they have not received any request for the transfer...

beefturnmail

hmmm, I know the existing provider has to release the funds in a set time scale, but are Clydesdale under any obligation to process within a certain period? Tempted just to cancel and go with Punjab instead...

eskbanker

Re the references to 15 days in earlier posts, under the HMRC guidelines cash ISA transfers should be completed from start to finish within 15 working days, i.e. three weeks.

iwant2asave

eskbanker wrote: »

Re the references to 15 days in earlier posts, under the HMRC guidelines cash ISA transfers should be completed from start to finish within 15 working days, i.e. three weeks.

I think Clydesdale/Yorkshire Bank needs to update its letters that it sends out to say 15 working days instead of 15 days.

beefturnmail

Still nothing and been 3 weeks (15 working days now)....

Going to call tomorrow, but starting to wonder if this is worth it for 0.5%

iwant2asave

beefturnmail wrote: »

Still nothing and been 3 weeks (15 working days now)....

Going to call tomorrow, but starting to wonder if this is worth it for 0.5%

Yes always worth calling. You may try calling existing provider first to see if they've received the transfer request, then you know exactly who is causing the delay.