Td direct transfer to iweb very slow

xylophone

I have now been advised that II intend to transfer the cash by BACS......

EdGasketTheSecond

A recent reply from ii as to why nothing was happening on the transfer front:

"At the moment our transfer team are dealing with a spike of activity due
to the integration between Td Direct Investing and Interactive Investor.
Whilst we are doing our best to ensure transfers are being dealt with as
quickly as possible, such requests are taking longer than normal. The usual
timescales for a broker transfer is 4- 6weeks.

If there are any problems with the counterparty we will email you.

A completion email will be sent upon successful closure of transfer

A 6 week update will be sent if for any reason the transfer is still
ongoing"


Ref: "our transfer team are dealing with a spike of activity"

hmmm could have seen that one coming without much difficulty

Archi_Bald

I posted my transfer request on November 14, and everything had been transferred by December 7. Can't fault them on this occasion.

mgarl10024

mgarl10024 wrote: »

Halifax said if TD (III) could send a CHAP payment the cash would come across quickly, but TD (III) said that they had to send an old style cheque as it goes along with the ISA declaration.

Economic wrote: »

My cash left my TD/ii ISA one afternoon and was in my IG ISA the next morning so I doubt it was a cheque!

I received an email from TD (III) on Dec 5th which said:

If we have sent cash to your broker, we will always try to send the cash via faster payment, if they accept payment in this way expect to see the cash on your account within 24 hours.If your broker is unable to accept faster payments then we will issue a cheque, please allow 4 working days for the funds to be applied to your account.

As I write this on Dec 11th, Halifax is not showing the funds. Therefore I can only conclude that they are being sent by cheque.

Perhaps Halifax doesn't support Faster Payments, although I find that hard to believe.

xylophone

Perhaps Halifax doesn't support Faster Payments, although I find that hard to believe.

Well, I was told by iweb that II would be making a BACS transfer of the cash - however, the II account page (last before closure) shows a Faster Payment......we'll see.

philng

Update my ISA shares & Cash now showing in IWEB account following complaint last Monday.

Wife account ISA investments now not showing at either III or IWEB so I assume in process now of transfer so hopefully show on IWEB account tomorrow. Cash still showing in III account.

Wonder what happens to dividends in next couple of weeks that had already gone Ex Div? I want to now close the III account asap to avoid charges but don't want to mess up any dividends due imminently.

xylophone

Wonder what happens to dividends in next couple of weeks that had already gone Ex Div?

I was told that any monies arriving in II would be transferred to iweb.

xylophone

Cash appeared in iweb this morning.

philng

Update:

My transfer now completed

Wife all complete except 1 Investment Trust (JPM Claverhouse) has not been transferred and is now not showing on either III or IWEB account & awaiting cash transfer!

Will be glad when everything has been fully complete & I can close the III accounts.

michael1234

Arghh, I wish I'd read this thread before starting my own! I'm also trying to move to iWEb but ii have my name spelled incorrectly so asked what I need to do to change it.
Well it took them more than a week just to tell me I needed to send in physical certified copies of my passport (the passport itself not being acceptable).

Very frustrated.