Help to Buy ISA Transfer to Lifetime ISA

aj23_2

Santander transferred my money from my Help to Buy ISA to my Lifetime ISA with Skipton Building Society on the 7th March last week and I've had a letter from Santander confirming the transfer, but the money hasn't been deposited to the Lifetime ISA yet.

Anyone else had this? If it's in neither of my accounts, where is the money?!

Ed-1

aj23 wrote: »

Santander transferred my money from my Help to Buy ISA to my Lifetime ISA with Skipton Building Society on the 7th March last week and I've had a letter from Santander confirming the transfer, but the money hasn't been deposited to the Lifetime ISA yet.

Anyone else had this? If it's in neither of my accounts, where is the money?!

They can't send it direct to your account as Skipton aren't a clearing bank. It's up to Skipton to credit the money to your account. I'm in the same boat and they informed me that the money should be in there by the end of the month as there's a backlog.

Riff_Raff

I transferred in January before the rush and there were a few days when the money didn't appear in either account. I wouldn't worry. They must be extremely busy.

aj23_2

Ed-1 wrote: »

They can't send it direct to your account as Skipton aren't a clearing bank. It's up to Skipton to credit the money to your account. I'm in the same boat and they informed me that the money should be in there by the end of the month as there's a backlog.

I know, that's why I said Skipton haven't deposited the transfer.

I thought the transfer actually happened quite quick. I posted my form on 1st March and they confirmed it on the 2nd and Santander transferred on the 7th.

aj23_2

I sent them a secure message about a cheque that they hadn't deposited for five days yesterday and they said they have a large backlog of cheque deposits for Lifetime ISA's so that is why they are taking a long time to make the transfer deposits.

peter_333

I did my transfer from Nutmeg to Skipton a few months ago, and even then it took a good few days to turn up. Hold tight. It'll get there.

aj23_2

Santander sent a cheque to Skipton Building Society and Skipton deposited the transfer amount yesterday.