SVS Securities - shut down?

sweeter_strudel

rnf11 said:

sweeter_strudel said:

iWeb transfer of ISA out.... progress and news of sorts

Did the little matter of any cash emerging from ITIC crop up in your discussion?

More broadly, if those numbers for IWeb are in any way typical of other popular brokers, then it does rather highlight the numbers that ITIC must be having to deal with - with all the email/phone call bombardments on top. Morale must be lousy there by now.

Didn't talk cash, sorry, rnf11. Mainly cos I took a deep breath in a couple of weeks ago and phoned the ITi dealing desk to fully invest all the dividends that had accrued since Aug 19 in that ISA. I've got about twenty quid left which will I guess eventually move to iWeb, when the skies are full of pigs, along with all the missing dividends that should've arrived since 23rd July to present day..... That'll be when hell freezes over. 

toad333

I'm transferring my positions and cash to Interactive Brokers in the US. ITI sent me a closure form, but the cash balances are wrong. I've been trying to confirm what they should be. 1) Should I wait till the information is correct before filling in the form? 2) Step 1 asks for "Your withdrawal bank account details" - do they mean the broker's details? The emails I've sent to ITI's transfers email account have been ignored.

SteveJohnson56

According to this board those complaints upheld, some have been offered compensation £100-250,  but their transfers have still not fully completed from July, delays ongoing. It would be foolish to accept/if at all until all problems have been rectified surely?
The compensation offered I assume will be nowhere near the total sum awarded by the FOS for depriving of cash and assets 8% statutory interest, £650 admin cost + possible fine to ITI.
If I was to receive 8% interest on my cash balance since 23 July - Sep when I gained access to my accounts and up until a recent cash withdrawal I would be owed £1k not a fob off take it or leave it final offer of £100-250.

 

shiznit76

has anyone successfully transferred out to Iweb yet?

johnburman

iWeb transfer for us is still ongoing: not been completed.  
Also, once the share transfer is "settled" (completed) only then is the cash requested.  Hence a yet further delay.  If it is too long, you could always ask for interest.  If they don't give it - ask the FOS for a ruling.  

Jamesram

Question to account management

From: James Ram*** <james.ram***@rocketmail.com>

To: accountmanagement@iticapital.com <accountmanagement@iticapital.com>

Sent: Thursday, 8 October 2020, 16:58:28 BST

Subject: My ITI account

Good day. I am contacting to ask you if you could advise me what time it is please

Thank you

James Ram***

ITI account management Response

Note:This is not my usual email address. This is the only "enquiry" I have sent to ITI using this address, so there can be no doubt what "enquiry" they are allegedly "reviewing". I conducted this exercise with a view to the future action I  intend to take against the company- it shows conclusively what we all suspect. This ITI  response email is a nonsense.

Can I please ask- has anyone received a follow-up email from ITI after this one, actually addressing the issue raised? None of the 3 enquiries that I am aware of have been answered after a period of at least 5 days from receipt of the above holding/blocking email message.

Thrugelmir

Only conspiracy theorists suspect. The rest of us look on in utter bemusement.  Unbelievable the amount of wasted time that's being generated. Talk about scoring own goals. 

jenwrendorset

Michael_Reynolds said:

Nbs222 said:

Gibson81 : I understand these monies are not visible in our ITIC accounts because it is being held in some sort of holding account because technically our accounts have been closed since we made our transfer requests.
If above is true then ,why can't ITI communicate this to everyone , It will save us lot of stress but also ITI will have less emails from us.

Because if they have to take the time to communicate with all those annoying SVS Clients then they might just as well use the time to update their Quort accounts. It's only Russian logic don't you see that? They just decided to do neither.

Just to contradict the above - we've one account which is not waiting on a transfer but is still waiting on a Legal & General dividend that was due to be paid on 24 September - I've sent letters and not even get the bog standard acknowledgement now.

jenwrendorset

shiznit76 said:

has anyone successfully transferred out to Iweb yet?

Yes but just one of our three accounts (finally on 30 Sep) - the other two are still waiting on a valuation from ITI, all transfer forms were included in the same envelope on 20 August - just waiting to have webchat with iWeb re. other two valuations.

SteveJohnson56

Jamesram said:

Question to account management

From: James Ram*** <james.ram***@rocketmail.com>

To: accountmanagement@iticapital.com <accountmanagement@iticapital.com>

Sent: Thursday, 8 October 2020, 16:58:28 BST

Subject: My ITI account

Good day. I am contacting to ask you if you could advise me what time it is please

Thank you

James Ram***

ITI account management Response

Note:This is not my usual email address. This is the only "enquiry" I have sent to ITI using this address, so there can be no doubt what "enquiry" they are allegedly "reviewing". I conducted this exercise with a view to the future action I  intend to take against the company- it shows conclusively what we all suspect. This ITI  response email is a nonsense.

Can I please ask- has anyone received a follow-up email from ITI after this one, actually addressing the issue raised? None of the 3 enquiries that I am aware of have been answered after a period of at least 5 days from receipt of the above holding/blocking email message.

If you inquire as a potential new client in my experience they will reply within 20 mins, but when you reply and turn the tables on them letting them know you are already a client wanting answers to current problems/ inaction's on their behalf, the fob off defensive excuses are the order of the day. "They will get back to you." ,....But do they?