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Is it safe to move money / have money in the "ether" at the moment?
Maureen43
Posts: 518 Forumite
As the title says really. I want to move some money from an ISA with one provider to another ISA with another provider, but am wondering if now is a safe time to do so?
I just don't know whether financial transactions are being affected by the current Covid crisis. I don't want to lose money!
Can anyone comment on whether they have had issues with transfers at the moment?
Thank you!
Maureen
I just don't know whether financial transactions are being affected by the current Covid crisis. I don't want to lose money!
Can anyone comment on whether they have had issues with transfers at the moment?
Thank you!
Maureen
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Comments
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No problem at all . I transferred an ISA all within 3 days online.Maureen43 said:As the title says really. I want to move some money from an ISA with one provider to another ISA with another provider, but am wondering if now is a safe time to do so?
I just don't know whether financial transactions are being affected by the current Covid crisis. I don't want to lose money!
Can anyone comment on whether they have had issues with transfers at the moment?
Thank you!
Maureen0 -
ISA and other transfers are no more risky than they ever were, i.e. not at all if you are operating within the FSCS limits and if you are dealing with accounts covered by FSCS. They might just take longer at present due to staff shortages.0
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I just don't know whether financial transactions are being affected by the current Covid crisis.
UK is having a crisis but we have not turned into some lawless rogue state , so no there are no problems with financial transactions.
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I just don't know whether financial transactions are being affected by the current Covid crisis. I don't want to lose money!
It is mainly logistical issues that financial firms are suffering. In every financial crisis (which occur on average every 7 years) the sectors and people affected varies each time. So, banks are not going to fail each time there is a financial crisis.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I requested an ISA transfer on 18th March which appeared in new account on 19th. I requested another on 10th April which appeared on 21st. Could be indicative of taking slighter longer, but still well within the 15 working day guideline.0
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