SVS Securities - shut down?

pafpcg

At last!  A response from ITI a few hours short of exactly seven days since I submitted my closure request using the "non-boarding" transfer-straight-out procedure.  Unfortunately, the message, received by email and in the Support Centre list of tickets, doesn't say how I can proceed! 

Here's the Support Centre ticket:
Date: 11 Aug 2020   
Type: Request    
Category: Closure/ Withdrawal Details Submitted (Doc Based KYC)    
Status: Details Required    
Remarks: Kindly complete the withdrawal application along with providing a photo ID and a recent bank statement.    

So where is this withdrawal application form and how do I submit it?  Can anyone help?

Jools2001

pafpcg said:

At last!  A response from ITI a few hours short of exactly seven days since I submitted my closure request using the "non-boarding" transfer-straight-out procedure.  Unfortunately, the message, received by email and in the Support Centre list of tickets, doesn't say how I can proceed! 

Here's the Support Centre ticket:
Date: 11 Aug 2020   
Type: Request    
Category: Closure/ Withdrawal Details Submitted (Doc Based KYC)    
Status: Details Required    
Remarks: Kindly complete the withdrawal application along with providing a photo ID and a recent bank statement.    

So where is this withdrawal application form and how do I submit it?  Can anyone help?

pafpcg said:

At last!  A response from ITI a few hours short of exactly seven days since I submitted my closure request using the "non-boarding" transfer-straight-out procedure.  Unfortunately, the message, received by email and in the Support Centre list of tickets, doesn't say how I can proceed! 

Here's the Support Centre ticket:
Date: 11 Aug 2020   
Type: Request    
Category: Closure/ Withdrawal Details Submitted (Doc Based KYC)    
Status: Details Required    
Remarks: Kindly complete the withdrawal application along with providing a photo ID and a recent bank statement.    

So where is this withdrawal application form and how do I submit it?  Can anyone help?

In same boat as you, ,"non-boarding" transfer-straight-out procedure., but only did this yesterday, not done wifes yet,as wanted to see how long it takes, but tempted to do hers as well,. as its taking  everyone else sooooooo long!!  This  ITI shower is absolutely diabolical,
anyone staying with them, must be off their heads!!

englishmas

Thanks for giv8ng me the information how to draw cash.
Has anyone  succesfull in  withdrawing the cash?
It will be grat if ITI make statement   to g8ve the updateand let us know what are the problem they are facing and how long will it take them to slove them. 

supersaverg

Everyone expects teething issues, when moving so many accounts, in a heavily regulated environment - but this is unpalatable.
Even base level communication to clients is terrible. This speaks volumes as there's really not too much technical about sending an email to your new customers.
Personally, my advice is get a new broker, and get them to transfer the assets for you. I'm with Hargreaves now - whom are now handling my transfer -  after this tragic SVS  / ITI shambles. 
Very reasonable fee's. EXCEPTIONAL web & mobile app. I only wish I had started with them.
Hang in there...I'm sure it will get sorted, but it's just part of the risk of investing in the stock market.

johnburman

but it's just part of the risk of investing in the stock market.

No it is not.  I expect my broker to accept my instructions and answer the 'phone when they do not. 

ITI do neither. 

pixaar123

they are on FB - hit them where it hurts. I just posted on it. I can't post links here but just search for ITI capital - they have around 8.7K followers. 

My2penneth

englishmas said:

Thanks for giv8ng me the information how to draw cash.
Has anyone  succesfull in  withdrawing the cash?
It will be grat if ITI make statement   to g8ve the updateand let us know what are the problem they are facing and how long will it take them to slove them. 

Yes, on 2 accounts. One for me and one for the wife's accounts. 

it took 5 days in total from submitting the form to the money landing in our accounts.
(see page 248 my post)

meuok

I made a cash withdrawal request on Monday, and it is showing up as pending transaction on my internet banking today (Tuesday)...

englishmas

I do not whats going on with ITi web site softwere .
I just checked my onboard account , my assests total value is just showing £94 , where the individual  holding value is currect which 8s in thousands, it seems the system canot add up.
Has anyone recently  checked their account.

Nbs222

englishmas said:

I do not whats going on with ITi web site softwere .
I just checked my onboard account , my assests total value is just showing £94 , where the individual  holding value is currect which 8s in thousands, it seems the system canot add up.
Has anyone recently  checked their account.

I had that some time back but it corrected itself.

If  individual stock qty and cash balance are  correct , the price of stock displayed  is not  that important.

It looks they have more than one  set of data  and often they are not in sync. e.g   one of my screen has letters missing in my name but other  screens have name spelt correctly.