Hold up with Skipton/HL processing LISA transfer?

Just wondering whether you'd sit & wait or get on the phone/write off to someone (Skipton/HL) about this. Bit of a timeline for you...

My brother sent off a S&S LISA transfer form to Skipton to transfer from HL to Skipton (cash LISA) which would've probably been sent off the week beginning 20 Nov. At this point he hadn't opened a cash LISA with Skipton.
We find we actually have a Skipton in town so my mother goes in midweek with my sisters same style form filled out in the same manner & asks about the correct procedure.

She was told an account needs to be opened up first, but not deposited in to and that (although it doesn't say it's a must) they must come in to the branch (good job we had one then) to provide 2 forms of ID - both of them (brother & sister).

FFWD....

Sat 2nd Dec : I go in to town (Skipton) with both my brother & sister. Their transfer forms get handed in, ID gets taken & photocopied. Transfer forms now contain their Skipton account numbers.
The only difference this time is my brother includes a note on the transfer form to say that he had previously submitted that form, just since then he had opened an account with Skipton hence the 2nd form being submitted with account info.


Staff in the branch say everything is now A-ok, on your way & job done....

Brother...

1st Dec - gets email from Skipton to say transfer in progress (so i guess the 1st form was actually good enough then)
11th Dec - Hargreaves Lansdown email to say there's a secure message regards his transfer - sorry to see you go blah blah
13th Dec - HL again email to say they've received dealing instructions for [fund invested in].
18th Dec - the LISA is no longer listed in his HL account portal.

Sister...

7th Dec - gets the same email my brother got on 1st Dec (but remember he'd submitted his form before her).
....and nothing since. Nothing from HL. No notes on her HL account, no recognition of any transfer, no dealing instructions, nothing.


Obviously they're wanting this transfer to get sorted so that they can then transfer over their cash HTB ISA from Halifax all before the deadline.

For the record the balance is showing as £0.00 in my brothers Skipton portal so i don't know how long it takes to properly finalise the transfer.

Just sit tight & give it some more time or contact (i assume Skipton)?

Comments

  • Alexland
    Alexland Posts: 9,639
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    edited 19 December 2017 at 11:23PM
    If you think there has been a delay with your sister's there's no harm phoning Skipton asking for an update. Sometimes transfers get stuck as both sides think they are waiting on the other for some information. Things could be going a bit slow because of Christmas.

    On the brother's transfer it does take a few working days for the bank transfer to occur and be recognised and associated with the correct account.

    Alex
  • All good apparently.

    They said the delay can be due to the fact it can take 30 days to process these ISAs so since it started on 1st December then it can take up to early January. Especially with it being Xmas.

    He asked about my sisters although not specifically to talk about her account as he knew they couldn't, just to talk about the fact that more time has elapsed with no follow up emails from HL like he (brother) had.

    Skipton said that this is likely normal as they've obviously received her transfer request and unless she has contact to say there's a problem then there shouldn't be one but that if she has any concerns then to call up.

    So at the moment at least all seems well.
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