SVS Securities - shut down?

Nbs222

I just tried using Phoenix Trading (stable)  demo ,  to me it is very complicated to use , it's really designed for traders  . Do we have to create Phoenix Account . I am really scared of using it.

My2penneth

I received a text msg from iWeb to say that they have received the transfer request on my 2 accounts and they have posted the paperwork to ITI Capital to initiate transfer.

I've just filled in the transfer paperwork with Interactive Investors for my wife's accounts and will post off tonight.

Unsurprisingly, ITI Capital wasn't recognised by iWeb nor Interactive Investors so they will have to transfer accounts "manually" and not by electronic transfer. So I had to supply contact details (good luck getting through on the phone).

There's 4 accounts that ITI Capital have lost.

My2penneth

Leonard Curtis had a face to face meeting with ITI capital today (August 3rd) and should shortly give an update on their (LC's) website.

wulfwigthewig

I’ve also heard nothing, apart from the ‘48 hrs....’ emails. No invite to ‘onboard’, nothing.
Leonard Curtis and ITI have really made a mega !!!!!! up of this, despite being paid vast sums in fees and drawing it out for a year.
Perhaps the threat of a reverse transfer en masse would get them thinking?

pafpcg

ITI email: "What happens next"  circulated at 17:46  - changes [almost] everything!  Option to withdraw with no need to create ITI account/ID etc!  That's my quick interpretation - looks like LC have understood our complaints & read the riot act to them!

I must have been in the last batch - I looked at my temporary account this afternoon and the holdings looked correct.  I have concerns about their terms of business and sent them an email saying "what if we say no?" - 30 mins later out comes this ITI email which answers my question!

Update:  One downside to an immediate transfer is that we'll get no chance to withdraw cash before transferring equity holdings to a broker, but that's a price I'll accept. No details on what ID documents ITI will demand.

Nbs222

It looks like for people choosing "NO"  can have their assets (stock) transferred  by ,asking  their broker to initiate a transfer request and send it to accountmanagement@iticapital.com.

The cash can be transferred directly to clients bank account by asking ITI ( "NO" point 7 )

For those who have already  chosen 'YES' can do them same  , can't they ?

shiznit76

anyone having problems loging in tonight?

My2penneth

I reckon it would be better to on board with ITI Crapital now and that at least will give you access to your accounts to withdraw cash/buy/sell within the next few days (he says optimistically). 

If you say "no", then it all goes back into a black hole awaiting ITI handling of the matter...... 

My2penneth

shiznit76 said:

anyone having problems loging in tonight?

No , I've just logged in at 6:40pm

shiznit76

anyone else having issues when trying to create a ticket with support? Can't get it to send.

Don't suppose anyone else is having a similar problem with wrong share price showing for a company also?