Cash ISA transfer to Virgin Money

[Deleted User]

About 3 weeks ago, I opened online a Virgin Money 1 year Fixed Rate E ISA paying 1.81% pa. The purpose was to move 3 cash ISA's (all previous years' subscriptions) which had just come out of fixes with Nationwide (2) and Bank of Scotland (1).

Anyway, the account opening all went through easily and I then, as instructed on the Virgin website, posted to them at Gosforth 3 completed ISA transfer forms, one for each of the ISA accounts to be moved. The forms were posted on the Wednesday and by the Tuesday following all 3 transferred balances were showing in the Virgin account.

All brilliant and efficient.

However, I've had nothing hard copy in the post from Virgin. I know it's an online account but you usually get a welcome letter or "pack" just confirming that the account is open, with account number etc. Is this normal? The only "proof" I have of the existence of the account is online. What happens if the website is scrubbed or catastrophically fails?

I was also expecting closing statements from Nationwide and Bank of Scotland but haven't received anything. At the time of transfer, all 3 accounts had transmuted into Instant Access cash ISA's with daily interest accruing. The only was I have if knowing what the closing interest was is by looking at the transfer amount for each account on the Virgin website (which doesn't show the old account numbers but I can deduce which is which from the amounts) and subtracting the relevant previous maturity figure advised to me by NW or BoS.

It's all a bit, well, casual and leaves me nervous. Should I be nervous?

moneyfoolish

I shouldn't worry too much. I've just transferred 2 old ISAs from the Halifax and Tesco to a Virgin ISA and have had nothing in hard copy. I've also had no information from the Halifax at all other than I can see my ISA has disappeared from my account and although I had an email from Tesco telling me I had a document relating to the account I didn't look at it for a few days by which time the ISA had disappeared from my account and the document with it! I checked online just an hour ago and found that the transfer from Tesco is already in the Virgin ISA but the transfer from the Halifax still hasn't got there yet.

[Deleted User]

Thanks, monefoolish, your experience is very similar to mine. My Bank of Scotland ISA has, likewise, disappeared from online banking (I didn't have online banking with Nationwide). The difference from you is that all 3 of my transferring accounts have reached Virgin, and that happened in 6 days from me posting the transfer forms to Virgin (they require the forms hard copy, as you will know). None of the transferees have been in touch with me, except Bank of Scotland sent me a four liner letter saying that they'd received a transfer request from Virgin and, if this wasn't me, I was to get in touch with Virgin pronto.
This is my first foray into ISA transfers for a long number of years, certainly since online accounts became the norm, so I guess I'm just a bit feart.