ISA TRANSFER NOT HAPPENED YET.

**woody123**

On the 6th April I filled out an online transfer form to transfer my existing West Bromwich Building Society Cash ISA to Lloyds for easy access.
15 working days have now passed and the transfer hasn't happened, and my funds still remain in my West Bromwich ISA account.  15 working days is the time that Lloyds say the transfer should happen in.

I remember when filling out the ISA transfer form that it asked for the Account No. & Sort code of my existing West Bromwich ISA account.  I put the account number and sort code from when I transferred funds from my bank to my ISA.  I also my put my West Bromwich Building Society Account No. as a reference number in the box below.

I just wondered if I filled out the form correctly in the first place or whether the transfer is taking longer than usual.

eskbanker

**woody123** said:

15 working days have now passed

Not quite, bearing in mind a couple of bank holidays during that period, but I suspect you're going to need to cut them some slack during these troubled times, which will inevitably compromise service levels (for either or both parties), especially at the peak of ISA season.  I'd suggest that if you haven't heard anything in another week, then it might be worth chasing at that stage....

dunstonh

15 working days have now passed and the transfer hasn't happened, and my funds still remain in my West Bromwich ISA account.  15 working days is the time that Lloyds say the transfer should happen in.

You may have heard but there is a virus going around that has caused most banks and providers to either shut their call centres or severely restrict them.

The requirement to transfer within the usual deadline is suspended.    If both sides can use the automated transfer system, then it should go through as most ISA managers are still doing those as they can be done remotely. However, if either side is not handling paper forms, then it will be delayed.

Albermarle

I recently transferred a cash ISA and it definitely mentioned 15 days, not working days . Quick google check confirms this .
Although mine was an electronic transfer it actually took exactly 15 days( I reminded them on the 14th day so maybe that helped) so I presume will be longer for a paper based one .

**woody123**

**woody123** said:

I remember when filling out the ISA transfer form that it asked for the Account No. & Sort code of my existing West Bromwich ISA account.  I put the account number and sort code from when I transferred funds from my bank to my ISA.  I also my put my West Bromwich Building Society Account No. as a reference number in the box below.

Thanks for the replies.  I will leave it longer before I contact Lloyds.
I've quoted from my OP above.  Does it look as though I've filled the form out correctly?

**woody123**

Albermarle said:

I recently transferred a cash ISA and it definitely mentioned 15 days, not working days . Quick google check confirms this .
Although mine was an electronic transfer it actually took exactly 15 days( I reminded them on the 14th day so maybe that helped) so I presume will be longer for a paper based one .

Thanks.  Mine was also an electronic transfer as I filled out a form online.  I will still leave it longer before contacting them.

eskbanker

Albermarle said:

I recently transferred a cash ISA and it definitely mentioned 15 days, not working days . Quick google check confirms this .
Although mine was an electronic transfer it actually took exactly 15 days( I reminded them on the 14th day so maybe that helped) so I presume will be longer for a paper based one .

Don't know where you saw that but the scheme-level timescale for cash ISA transfers is definitely 15 working days:

https://www.gov.uk/individual-savings-accounts/transferring-your-isa

ISA transfers should take no longer than:

• 15 working days for transfers between cash ISAs
• 30 calendar days for other types of transfer

https://www.gov.uk/guidance/transfer-an-isa-if-youre-an-isa-manager#cash-isa-transfers

Cash ISA to cash ISA transfers must take place within 15 business days of the transfer instruction being received by the new ISA manager, unless the investor stipulates that the 15 days starts on a later date. This 15 days is broken down as follows:

The new ISA manager has 5 business days to forward the instruction to the old ISA manager.

The old ISA manager has 5 business days in which to send the funds and information to be provided to the new ISA manager.

The new ISA manager has 3 business days to apply the funds to the new ISA.

The other two days are to allow for time taken for first class post between managers.

This timetable does not apply to cash ISA to stocks and shares, innovative finance or Lifetime ISA transfers or to stocks and shares, innovative finance or Lifetime ISA to cash ISA transfers. Managers should complete such transfers in accordance with their ISA terms and conditions.

Shedman

Going the other way my ISA transfer from Lloyds to Paragon only took 3 days in early April, which totally surprised me.  My guess is that its West Brom that are the slow link in this one.  Have you had any email from West Brom or message when you log on to your WBBS account to say that they have been contacted by another provider re transfer of ISA as I think they have to let you know in case the transfer is erroneous.  That way you would know that the process has at least started.  If not I suggest you try contacting WBBS and checking they have had the request from Lloyds.   

Albermarle

Don't know where you saw that but the scheme-level timescale for cash ISA transfers is definitely 15 working days

I looked at the paperwork for my own transfer that was going through and nowhere did it mention working/business days.

Also a quick look at a couple of google results did not mention that either.

Happy to stand corrected but even some of the providers are not giving exactly the right info. 

eskbanker

Albermarle said:

Don't know where you saw that but the scheme-level timescale for cash ISA transfers is definitely 15 working days

I looked at the paperwork for my own transfer that was going through and nowhere did it mention working/business days.

Also a quick look at a couple of google results did not mention that either.

Happy to stand corrected but even some of the providers are not giving exactly the right info. 

There's definitely room for both to be true rather than one being right and the other wrong, in that some providers can choose to quote a more ambitious timescale than the government-mandated one, but it seems rash to do so when the process inherently involves parties outside of their direct control!

Anyway, this is all somewhat moot as OP confirmed that "15 working days is the time that Lloyds say the transfer should happen in"....

**woody123**

I got the information regarding the transfer time from the Lloyds website.
Shedman: No, I've had no contact at all from the West Brom BS, either emails or messages when logging on to my account.  I will call them on Monday and see if they have heard anything.  I could be that I have got some details wrong and the transfer is void.