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NSI Cash ISA - slow/stalled transfer
sausage_time
Posts: 1,912 Senior Ambassador
With the demise of interest on the NSI Cash ISA, I finally kicked off a transfer to Vanguard on 6th April. Vanguard e-mailed me a form to fill in and sign (NSI don't do on-line xfers), and sent it back to Vanguard within a few days. Transfer shows as "In Progress" on Vanguard, but no sign of any movement from NSI. How long before I chase, and who do I chase? I'm watching the market closely in case I lose out. is compensation possible?
Anyone else seeing timely transfers from NSI?
Anyone else seeing timely transfers from NSI?
I’m a Forum Ambassador and I support the Forum Team on the Credit Cards, Savings & investments, and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.
All views are my own and not the official line of MoneySavingExpert.
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Comments
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You chase Vanguard as the receiving party is responsible for the transfer.1
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In my experience Vanguard aren't the quickest at this kind of thing. Took more than 3 weeks for them to confirm my identity when I first opened my S&S ISA with them. I daresay Covid didn't help (staff working from home, some self-isolating etc.)Trying hard to be a good moneysaver.0
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Give it three months at least...Vanguard, HL, AJB all quoting 8-12 weeks for ISA transfers in or out nowadays.0
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Ah, found this on Vanguard FAQ site:
I'll just sit tight for a bit longer, and enjoy basking in the 0.1% interest.If your provider requires signed paperwork, then the transfer could take 8 to 10 weeks but it can sometimes take longer.I’m a Forum Ambassador and I support the Forum Team on the Credit Cards, Savings & investments, and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0
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