SVS Securities - shut down?

shiznit76

Got my iweb letter today also

jenwrendorset

Nbs222 said:

SteveJohnson56 : Ring IWEB UP, explain your assets have moved to linked PX accounts, give the linked account numbers, ask them to submit both SC and PX accounts when IWEB next request valuations from ITI.

I have been doing that since early September , sending email every week  to say they must  send  valuations from my both SC and PX accounts but still they sent just SC account valuations. I have now filled another request for PX account. I have never had any response from ITI to the emails I sent.  I have also logged it with FOS

This is an extract from a webchat my son had with iWeb earlier today - he was checking on the progress (or not) of his transfer and also to alert them that his account had been moved to a linked PX account.  My husband did the same earlier today but wasn't given the same advice.   I'm guessing we're going to have to complete more transfer forms unless anyone out there has any other bright ideas - I've rung the Transfer Team number three times today but guess they've all taken the day off , left it ringing for ages but to no avail.

A.   "I know we issued letters at the beginning of the week providing an update on the transfers in from them

The system is still showing that we haven't received a valuation as of yet however I am aware that we received some details from them recently that are currently being worked through as these were sent in bulk so contain multiple customer details.

The only problem is that because the account is under a different reference number and we don't have a request for that account we won't have anything on the system. Can you please log another transfer for the account with the other number and e-mail this to us at brokkertransfers@Halifax.co.uk so we can get it on our system at least.

Q.   Ok, I presume having two transfers in for basically the same account won't mess things up (any more than they are now with ITI)?

 - 4:41 PM

A.   Because they are under different account numbers we would need to request the information for this one as a new request however if they are both ISA accounts for example it wouldn't affect the account overall.

 - 4:42 PM

Q.   Presumably this would take me back to square 1 time-wise? ITI have both numbers on the dashboard so they should be able to identify the account, shouldn't they

 - 4:43 PM

A.   It's mostly for our records we need the transfers to match the details for the accounts they are coming from i.e the numbers and the valuations also.

We've  received contact from a number of customers who are experiencing the same so it's something our transfers team are aware of. We are in regular contact with ITI so it will be raised to ensure we can continue as quickly as possible etc.

 

Clairabella

I actually managed to speak to someone at ITI who promised to expedite my cash withdrawal. Today I have received an email from him asking for a copy of my bank statement, strange as I’ve already provided my bank’s  sort code and account number on the withdrawal form. Has anyone else had to do this? Is it safe? 

Panzanansis

Hopefully a ray of hope for some: I have *finally* got my money back from ITI. Took over a month after opening the Phoenix account (which took two months), two submissions of withdrawal forms (they lost the first set) several phone calls, E-mails, and threats to take action through the Financial Ombudsman to get it, but it's now in my bank account, so hopefully I will no longer have to deal with this shambles of a company. The only advice I can give is to keep calling / E-mailing, even if you have been promised that action is going to be taken. In a lot of the dealings I've had with them, one person does their part of the task, hands it over to someone else, then it vanishes into the second persons queue and either stalls again or gets lost entirely.

Good luck to all those still trying to reclaim their shares and cash.

Panzanansis

Clairabella said:

I actually managed to speak to someone at ITI who promised to expedite my cash withdrawal. Today I have received an email from him asking for a copy of my bank statement, strange as I’ve already provided my bank’s  sort code and account number on the withdrawal form. Has anyone else had to do this? Is it safe? 

Yes, I had to do that. Twice (as they lost the E-mail the first time I sent it). Is it safe? Probably not. Is it necessary if you want to get your money back? Unfortunately yes. You'll need to fill in their two-page withdrawal form as well. As in print it out, scan it in, and E-mail it. Yes, it's that 20th Century.

Panzanansis

Panzanansis said:

Clairabella said:

I actually managed to speak to someone at ITI who promised to expedite my cash withdrawal. Today I have received an email from him asking for a copy of my bank statement, strange as I’ve already provided my bank’s  sort code and account number on the withdrawal form. Has anyone else had to do this? Is it safe? 

Yes, I had to do that. Twice (as they lost the E-mail the first time I sent it). Is it safe? Probably not. Is it necessary if you want to get your money back? Unfortunately yes. You'll need to fill in their two-page withdrawal form as well. As in print it out, scan it in, and E-mail it. Yes, it's that 20th Century.

Sorry - just spotted that you already said you'd sent the withdrawal form. But yes, sending in a copy of bank statements for a withdrawal is stated in their FAQ.

SteveJohnson56

jenwrendorset said:

Nbs222 said:

SteveJohnson56 : Ring IWEB UP, explain your assets have moved to linked PX accounts, give the linked account numbers, ask them to submit both SC and PX accounts when IWEB next request valuations from ITI.

I have been doing that since early September , sending email every week  to say they must  send  valuations from my both SC and PX accounts but still they sent just SC account valuations. I have now filled another request for PX account. I have never had any response from ITI to the emails I sent.  I have also logged it with FOS

This is an extract from a webchat my son had with iWeb earlier today - he was checking on the progress (or not) of his transfer and also to alert them that his account had been moved to a linked PX account.  My husband did the same earlier today but wasn't given the same advice.   I'm guessing we're going to have to complete more transfer forms unless anyone out there has any other bright ideas - I've rung the Transfer Team number three times today but guess they've all taken the day off , left it ringing for ages but to no avail.

A.   "I know we issued letters at the beginning of the week providing an update on the transfers in from them

The system is still showing that we haven't received a valuation as of yet however I am aware that we received some details from them recently that are currently being worked through as these were sent in bulk so contain multiple customer details.

The only problem is that because the account is under a different reference number and we don't have a request for that account we won't have anything on the system. Can you please log another transfer for the account with the other number and e-mail this to us at brokkertransfers@Halifax.co.uk so we can get it on our system at least.

Q.   Ok, I presume having two transfers in for basically the same account won't mess things up (any more than they are now with ITI)?

 - 4:41 PM

A.   Because they are under different account numbers we would need to request the information for this one as a new request however if they are both ISA accounts for example it wouldn't affect the account overall.

 - 4:42 PM

Q.   Presumably this would take me back to square 1 time-wise? ITI have both numbers on the dashboard so they should be able to identify the account, shouldn't they

 - 4:43 PM

A.   It's mostly for our records we need the transfers to match the details for the accounts they are coming from i.e the numbers and the valuations also.

We've  received contact from a number of customers who are experiencing the same so it's something our transfers team are aware of. We are in regular contact with ITI so it will be raised to ensure we can continue as quickly as possible etc.

 

I queried several weeks ago if I would need to submit more transfer forms for the PX accounts. I was told I didn't need to, they made a note on my transfer details at IWEB linking SC and PX. I contacted them the other day with web chat and I asked them to quote to me the accounts they were requesting transfers from ITI. They confirmed they would be sending both SC and PX numbers to prevent the scenario were ITI say there is nothing to transfer ie from SC only.

My2penneth

SteveJohnson56 said:

GeorgieC / My2p

I have only given the SC, PX account numbers for my transfers, when I realised there was also a U account I am now concerned  I should also give this.

So is it not necessary to give the U account number???

No, just the SC and PX numbers.  

My2penneth

SteveJohnson56 said:

I queried several weeks ago if I would need to submit more transfer forms for the PX accounts. I was told I didn't need to, they made a note on my transfer details at IWEB linking SC and PX. I contacted them the other day with web chat and I asked them to quote to me the accounts they were requesting transfers from ITI. They confirmed they would be sending both SC and PX numbers to prevent the scenario were ITI say there is nothing to transfer ie from SC only.

This is what iWeb told me and they added the PX account numbers. I also sent them a spreadsheet (in pdf) saying what should  be transferred.

jenwrendorset

Clairabella said:

I actually managed to speak to someone at ITI who promised to expedite my cash withdrawal. Today I have received an email from him asking for a copy of my bank statement, strange as I’ve already provided my bank’s  sort code and account number on the withdrawal form. Has anyone else had to do this? Is it safe? 

Yes, we do it every time......otherwise they come back and ask you for it so more delays......and is anything safe with ITI, I doubt it very much, no security questions are ever asked.