SVS Securities - shut down?

Danie6

At last! It appears that my shares have been transferred to Interactive Brokers yesterday. I am now waiting for my cash to hit the bank. Haven't heard anything since my first cash transfer request on 27 July 2020 and have so far submitted seven requests already.

Nbs222

Danie6  wrote :At last! It appears that my shares have been transferred to Interactive Brokers yesterday

That's promising ,  that means shares transfer doesn't take that long once ITI   acts on it. I  believe Danie6 selected  "NO" while most of us  selected "YES" option  initially when registering with ITI.

Hopefully ITI will start acting on all  the transfers they have received.

manted

Danie6 said:

At last! It appears that my shares have been transferred to Interactive Brokers yesterday. I am now waiting for my cash to hit the bank. Haven't heard anything since my first cash transfer request on 27 July 2020 and have so far submitted seven requests already.

Hello ! Very good news indeed. If my memory serves me right - you requested transfer out on 5th of August ?
Can you please give us a brief overview of steps taken as i know you had quite a few issues logging on and viewing assets.

My2penneth

Danie6 said:

At last! It appears that my shares have been transferred to Interactive Brokers yesterday. I am now waiting for my cash to hit the bank. Haven't heard anything since my first cash transfer request on 27 July 2020 and have so far submitted seven requests already.

Falls off chair in amazement!   Congratulations! 

olderbutnowiser

Seems that waiting for "cash to hit the bank". is the key here. ITI's belatedly sent withdrawal instructions make it clear that the shares go to your new broker and the cash to your bank. They are clearly not used to the concept of transferring shares and cash to a new broker which is, of course, essential with an ISA that has accrued 12 months of dividends.

Danie6 was presumably dealing with a non-ISA account and has got a good result. However I am not convinced that the rest of us who are part or completely on-boarded will not still have to wait a lot longer to get hold of our shares.

shiznit76

Right on boarding is complete (finally) and have phoenix account created. So the share values for my holdings are wrong, or don't appear at all in my holdings. How do i go about rectifying this?

manted

shiznit76 said:

Right on boarding is complete (finally) and have phoenix account created. So the share values for my holdings are wrong, or don't appear at all in my holdings. How do i go about rectifying this?

That my dear friend is the 240 Mn£ question ! We are all stuck with the same problems, values are incorrect since day1.

olderbutnowiser

shiznit76 said:

Right on boarding is complete (finally) and have phoenix account created. So the share values for my holdings are wrong, or don't appear at all in my holdings. How do i go about rectifying this?

I think you just wait until ITI get around to doing it "manually line by line" by which time some of us will probably be pushing up the daisies!

Out of interest, on the RHS in green, how does your account read? Mine show "On-Boarding Approved" for both Qort  accounts and "Open" against both Phoenix accounts. One Qort account shows a reasonably accurate amount for the shares whilst the other only has the value of  one share showing. Both accounts show the cash transferred from LC but no subsequent dividends. Both Phoenix accounts show zero for shares and cash.

Nbs222

olderbutnowiser wrote :

Out of interest, on the RHS in green, how does your account read? Mine show "On-Boarding Approved" for both Qort  accounts and "Open" against both Phoenix accounts. One Qort account shows a reasonably accurate amount for the shares whilst the other only has the value of  one share showing. Both accounts show the cash transferred from LC but no subsequent dividends. Both Phoenix accounts show zero for shares and cash.

Mine  are exactly the same as yours  ,  except I have received  dividends  since transfer  but have not received vod  and ng.

olderbutnowiser

Thanks Nbs222, that is interesting. Can you please give me an example of a  dividend that has been credited by ITI?