H & L customer service issues

MarcoM

Hello,


For the first time I am having problems with HL.
I provided a bed and isa instruction on 11 April and this still has not been completed.
They have sold the share from my fund and share account but
they are still showing as cash so have not yet been bought back in the ISA.


Is anyone else having problems with them at the moment?


I am considering requesting some compensation, do you think this is reasonable?
Please note that I have sent several messages regarding this and all I am getting is apologies for the delay.


Thanks

AnotherJoe

Have you phoned them?
I've found they are pretty good by the private message facility but I think you should be escalating this now by phone, 2 weeks is wholly unacceptable, it is Bed & ISA, not two weeks holiday and ISA

If the share price has gone up I'd want to be compensated for that, eg get the price you shoudl have next morning, if its gone down, I'd be happy to get it at the new lower price, plus in either event say £25 for the aggravation as it shouldn't be necessary to be contacting them to chase.

dunstonh

I am considering requesting some compensation, do you think this is reasonable?

You have to allow a reasonable time for the sale and repurchase. What would be considered reasonable by the FOS is a lot longer than the time you have given here (30 days is often given). So, its a bit early for compensation requests.

AnotherJoe

Eh?
If the OP sold the shares (seconds) they could have transferred the money (second)s and then bought again (seconds). So its possible in a couple of minutes.

The whole reason for the monicker 'bed and ISA' is because it is overnight, not done to package holiday deadlines.

To say 30 days is acceptable is completely unacceptable, especially from HL who pride themselves on service. So irrespective if FOS finds it acceptable, I doubt HL do and I certainly wouldn't if i was experiencing this.

dunstonh

To say 30 days is acceptable is completely unacceptable,

I didnt say that. I said what the FOS would generally consider allowable before an award of compensation.

jimjames

First stage is to call HL. No one here will know why it hasn't gone through, I've done bed and ISA with iWeb and although a manual transfer of money it did happen instantly.
SPeak to them and let them sort it - then complain if they don't

ColdIron

HL's telephone service is usually tip top but you're paying for it. Make them earn it and don't faff about with secure messaging

Totton

HL do say they will make the first transaction for a Bed & Isa within 4 working days. I find it is quicker to sell the holding and give them a quick phone call to transfer the cash across to the ISA. However that does cost an extra £11.95 as you will not then save on the nil dealing fee for the sale.

This year I tried the Bed & Isa so as to save the dealing fee, the whole thing saw them make the first transaction within the 4 days, a couple of others came a day or two later.

Note that any monies raised from the sale in the fund account will see your ISA sales made but your ISA cash account will show red until the cash is finally transferred after the T+ trading that is standard.

HTH,
Mickey

C_Mababejive

HL are very good at marketing ,have a very informative website and are responsive on the phone and via messaging.

I have had two recent gripes which are causing me to consider moving away from them.
1) I cant set individal reivestment choices,its all or nothing.
2) I cant reset my total costs for an investment. With TDW i simply click and change.