Contacting Hargreaves Lansdown

Sebo027

I have called Hargreaves Lansdown a number of times and have always found their customer service to be absolutely spot on. Never tried transferring out, though.. 

Transfers in usually come with a letter within a day or so - they are also beholden to the other party when it comes to transfers so that slows things down a bit. 

garmeg

olbas_oil said:

Thrugelmir said:

olbas_oil said:

I have read that it is very much in their interests to delay transfers out.

Suspect the bigger issue is that their plush Bristol offices are too Covid friendly. With many staff now working from home in a limited capacity. 

There were complaints about HL taking a very long time to perform transfers out long before Covid. https://www.telegraph.co.uk/investing/isas/investors-quitting-hargreaves-lansdown-face-huge-delays/
So, although Covid will have exacerbated the situation, it is not the primary cause.
I received an automated reply from HL stating that they were now processing emails received four weeks earlier. If anyone from HL is reading this, what I'd like to know is:
1) What is the delay on processing emails for transfers in?
2) What is the relative size of teams between transfers out and transfers in?
I would think Covid would affect both teams in the same way.
I also note that IWeb froze all transfers from lockdown until early June. But having re-opened, they appear to giving a responsive service.

I can confirm that (partial) transfers in from my employer pension scheme (run by Aviva) to my Hargreaves Lansdown SIPP takes 12 days from keying in the request on Hargreaves Lansdown's web site to the funds appearing in my SIPP.

Two transfers have been requested during lockdown and they both took 12 days (including weekends).

fiscoking

An old thread I know, but I thought I'd update for 2024.

Nothing has changed.

I've just tried to move some money from the H&L 'Cash Hub' to my nominated bank account. The website notification said it would take 2 hours. 5 hours later nothing, and a call to customer services has told me it could take 2-3 days. This is using faster payments as well, which should complete in minutes.

The staff seem helpful, but are unable to do anything other than offer excuses and raise complains on your behalf, which only ever generate an email response.

Mrs_Z

Good to know, and bear to in mind, especially given the new financial year just about to start. I’ve never had a reason to contact them as not tried withdrawing any of my funds yet.

ColdIron

fiscoking said:

An old thread I know, but I thought I'd update for 2024.

Nothing has changed.

I've just tried to move some money from the H&L 'Cash Hub' to my nominated bank account. The website notification said it would take 2 hours. 5 hours later nothing, and a call to customer services has told me it could take 2-3 days. This is using faster payments as well, which should complete in minutes.

The staff seem helpful, but are unable to do anything other than offer excuses and raise complains on your behalf, which only ever generate an email response.

Whenever I've made a withdrawal early, I would usually do it before 10:00 AM, it's always arrived the same day. The CS people have to say it could take 2-3 days, it's out of their control. The fact that it's FP isn't really relevant, they batch up customer instructions and execute them all at once rather than trigger on individual instructions

Bear in mind that this is their busiest time of the year