Cash ISA to a platform - how long should it take

schiff

Did this once in October, went like a dream, transfer completed in a few days.

Trying to do exactly the same currently - with the Nottingham BS. They received the platform's request on April 8th, can't complain about that. But they have to 'process' it with the platform and HMRC and it could take 7-14 working days - from my phone call about the delay this morning.

Is this reasonable or not? If it is, how could Marks & Spencer Money have been so speedy in October?

eskbanker

The SLA for cash to cash ISA transfers is 15 working days, as per https://www.gov.uk/guidance/transfer-an-isa-if-youre-an-isa-manager#cash-isa-transfers, even though some may naturally beat this.

Transfers to other types of ISA aren't subject to this maximum timescale but I'd have thought it would be a reasonably indicative estimate of what to expect, so wouldn't see Nottingham as dragging their feet at this stage if they only received the request at the start of this week....

schiff

Thank you. No mention of HMRC having to cast its beady eye over it, I see. I'll have to be patient. It's a big chunk of cash earning nothing which was making me concerned.