Td direct transfer to iweb very slow

lejog2003

quaybab wrote: »

There's no link as they are keeping hush about it unless your a customer but it covers a fair few ETFs they offer.

IanManc has summed up the situation perfectly, all platforms are either start providing research for these funds or withdraw them. I assume since there hasn't been an outcry about other platforms, that few other platforms offer these complex assets anyway. I would guess if you want access to these funds, you'll have to pay for investment advice.

There's lots of new MiFID II regulations coming into force on 3rd Jan. Its hardly hush hush, they apply to the industry EU-wide.

EdGasketTheSecond

I had an email from ii on 20th Nov. saying cash had been transferred (completed) to iWeb but it has not appeared in iWeb. Is that normal? How can the transfer be complete with no money in my new account?

Also is it OK to carry on trading while the transfer takes its time or will that mess it up?

System

EdGasketTheSecond wrote: »

I had an email from ii on 20th Nov. saying cash had been transferred (completed) to iWeb but it has not appeared in iWeb. Is that normal? How can the transfer be complete with no money in my new account?

Also is it OK to carry on trading while the transfer takes its time or will that mess it up?

I had an email that said that the cash transfer to IG had been completed, but the cash is still in my account with ii so obviously it has not been completed!

IanManc

quaybab wrote: »

There's no link as they are keeping hush about it unless your a customer but it covers a fair few ETFs they offer.

Rubbish. They are not "keeping hush about it". IWEB are simply implementing new EU Regulations relating to complex investments which will apply to every other execution only broker in exactly the same way.

They're not "scaling back their business" and what you said isn't true. Execution only brokers are no longer allowed to sell complex assets. That is in the public domain, and all the execution only brokers complying with the Regulations does not amount to any single one of them, or all of them, scaling back their business because the assets are niche products which ordinary investors shouldn't be buying without advice anyway.

Stop saying that IWEB are "scaling back their business" and "keeping hush about it" because neither are true. The business isn't changing and the Regulations aren't a secret.

EdGasketTheSecond

Anyone else noticed the option to view the status of transfers has been removed from the TD / ii platform? It was there last week.

System

EdGasketTheSecond wrote: »

Anyone else noticed the option to view the status of transfers has been removed from the TD / ii platform? It was there last week.

Yes. Another improvement to the website!

jimjames

EdGasketTheSecond wrote: »

I had an email from ii on 20th Nov. saying cash had been transferred (completed) to iWeb but it has not appeared in iWeb. Is that normal? How can the transfer be complete with no money in my new account?

Yes it can be normal. The same is likely to apply to funds, I've found they can take quite a few days to be fully visible in the iWeb portfolio.

Rollinghome

EdGasketTheSecond wrote: »

I had an email from ii on 20th Nov. saying cash had been transferred (completed) to iWeb but it has not appeared in iWeb. Is that normal? How can the transfer be complete with no money in my new account?

Also is it OK to carry on trading while the transfer takes its time or will that mess it up?

Cash is still transfered by cheque sent through the post and the receiver will wait until the cheque has been banked and cleared before crediting your account. It's likely ii will be quicker at sending you an email than drawing a cheque and getting it in the post.

When I transfered a S&S ISA from Fidelity to Iweb a few years ago it was exceptionally fast by comparison with others - about 2 weeks iirc. I more recently transfered the rump of Mrs R's cash ISA from Nationwide to Iweb in several tranches and all arrived in under 2 weeks.

EdGasketTheSecond

Yes but I'm not even sure its been sent as the cash is still showing in the ii account and has actually increased due to a dividend coming in. How can they claim the transfer is complete when the money is still there, apparently?

JohnRo

My timeline for one account I moved recently (GIA)

19 Sep - IG acknowledge transfer instruction
25 Sep - TD/II acknowledge transfer has started
04 Oct - TD/II apologize for delay (unprompted)
10 Oct - TD/II state transfer date agreed
13 Oct - IG provide details of transferred assets as trades executed
13 Oct - TD/II notification that the transfer is complete
13 Oct - TD/II notify account closed (as requested via telephone)
27 Nov - IG still haven't credited the transfer incentive cash bonus... 3 days to go