How long to wait for ISA reactivation?

jedy

I gave my HSBC branch an ISA reactivation form and requested a small sum to be transferred from my HSBC current account a week ago. The woman I spoke to said it would be complete by Monday. A week later nothing has happened and I was wondering how long is reasonable to wait for the account to be reactivated. I've tried calling HSBC a few times but keep getting stuck with 30mins call waiting times which is inconvenient.

realaledrinker

Plenty of evidence on here regarding HSBC's rubbish processes so who knows. HSBC rival Halifax as the most useless organisation when it comes to business processes. Like Halifax telling you to visit a branch to activate an ISA that had converted from a JISA, only to be then informed that the paperwork had to go up to head office to sort out, freezing the balance in a 0.25% paying account for another couple of weeks.

typistretired

You can actually reactivate over the phone.

colsten

Check whether you really want an ISA, as there are countless other accounts that pay more interest than cash ISAs.

Westie983

realaledrinker wrote: »

Plenty of evidence on here regarding HSBC's rubbish processes so who knows. HSBC rival Halifax as the most useless organisation when it comes to business processes. Like Halifax telling you to visit a branch to activate an ISA that had converted from a JISA, only to be then informed that the paperwork had to go up to head office to sort out, freezing the balance in a 0.25% paying account for another couple of weeks.

Re-designation from JISA to adult ISA can be done in branch if you can be seen by an advisor, alternatively the form is filled out online and sent electronically so you wont need to wait a couple of weeks, the SLA is four working days.

You have to provide ID, as you have moved to a adult ISA and the NI number needs to be recorded, which is why you need to visit a branch.

Westie983

jedy wrote: »

I gave my HSBC branch an ISA reactivation form and requested a small sum to be transferred from my HSBC current account a week ago. The woman I spoke to said it would be complete by Monday. A week later nothing has happened and I was wondering how long is reasonable to wait for the account to be reactivated. I've tried calling HSBC a few times but keep getting stuck with 30mins call waiting times which is inconvenient.

Re-designation can be done over the phone as long as you pass the security questions, it taken as a verbal instruction and a confirmation sent in the post if you wish.

I would speak to your branch again and make sure its redesigned before you leave the branch, alternatively try again to speak to them over the phone?

Number I have found online is 03457 404 404, also worth trying the live chat option, so you have a record of what is said via a transcript or a print screen option.

realaledrinker

Weastie, I agree with what you say 100%. We went into the branch at Frodsham Street, Chester who have form for incompetence. True enough, despite us having 3 letters each saying the redesignation could be done in branch in less than 10 minutes, the advisor (I use the term advisedly) insisted that this could not be done in branch & paperwork had to go off to head office. As he was quoting off screen he was either correct, illiterate or just wanting to wind me up. In which case he succeeded!

jedy

colsten, Thanks for the advice but I already have an ISA and need to reactivate it as it has been locked due to over a year of inactivity. Seems my bank are pretty incompetent at this and their website is extremely vague when I search it for information.