Iweb ISA Transfer in - 2months and counting!

sairy.gamp

Both myself and my significant other instigated in very late April a cash ISA transfer to our existing ISA accounts on the Iweb platform. A few days ago our existing provider confirmed that they have as yet had no approach whatever from the quicksilver-like Iweb.

I was wondering what time frames others may have had (or are having) trying to move a cash ISA to Iweb?

We have both written (twice - no response whatever!) and held lengthy 'Livechats' to check on progress. In the case of 'Livechat' we have both been reassured more than once that our transfers are being dealt with. I must say that we both feel that we are being fobbed-off or deceived now.

We had similar problems last year transfering into I web, but nothing like as long as this.

Anybody in the same (slooow) Iweb boat?

george4064

Transfer from cash ISA to S&S ISA should take anywhere between a few days to a few weeks.

Questions for both of you;

Which provider are you transferring from?

How much cash are you transferring?
How much ISA allowance do you have left this tax year?
How much of your ISA allowance do you intend/expect to use this tax year?

Based on the answers above, provided you both have sufficient tax allowance and each of your ISA balances aren’t that high you could simply withdraw the funds and subscribe them to a new S&S ISA.

That would be the quickest way, just remember that the money will lose its ISA status and you will using up your ISA allowance when you add it to your new S&S ISA from your bank account.

sairy.gamp

Thanks, but we are keen to retain ISA status as it has been built up over several years.

We both think something has gone awry with our transfers at IWebs end and they are just not being upfront about it. I actually had a letter from them last week asking me to complete a form (3rd time) with was erroneous anyway (2nd time) in that it quoted the wrong account number from the existing provider and was for an S&S transfer to boot! There is no doubt that they are being very incompetent and possibly intentionally deceitful too.

In the interests of fairness, I feel I must add that we both very much enjoy using  the Iweb platform and would recommend it - it is just their transfer team that is far below par - unfunded/under-resourced perhaps?

csgohan4

my LISA from  EQI to AJB took almost 2-3 months. Kind of expected and within the timeframe ish. The money/Shares will not be lost, they will be protected in transit

Chickereeeee

I have been transferring a SIPP FROM iWeb since January....

I have been promised mine is receiving g the 'highest priority', so you will have to wait.....

soulsaver

see top of page 2..
ISA transfer long delay - Page 2 — MoneySavingExpert Forum

10 working days into Interactive after BS from IWebb.. and their admin has been criticised in the past..

soulsaver

PS And whilst II's platform isn't that great, it's way better than iWebb's (not just knocking - I use both ... have for years...).

tel_

2 months now for me and still no transfer from Vanguard to iWeb.

And for the second weekend no access to my account:

https://www.iwebsharedealing.co.uk/sorry/pages/unavailable.html

This is getting frustrating.

Umiamz

From their website:

Due to the unprecedented demand for our service transfers are taking longer than usual. Transfers are currently taking up to 12 weeks and there is currently a delay of 3 weeks to log your initial request. We are working hard to process transfers as quickly as possible and apologise for any inconvenience this may cause.

I started an in specie transfer of a S&S ISA from HSBC at the beginning of May. I received a letter from IWeb a couple of weeks later and my HSBC ISA was transferred out around the middle of June. It hasn't appeared in my IWeb account yet.

tel_

Not sure what was going on earlier, but the log-in page is now accessible for me.

No transfer in/activity on my account though 

 

Snapdragon

I have been waiting over 3 months for any update from them, having lodged the transfer paperwork in March, but mine is a S&S ISA transfer rather than cash ISA.

Just had a letter this week with a nonsensical message "We cannot proceed as account details must match one of the configured regular expressions. Please re-submit request." No idea what that means but presume I need to start again!

Not impressed. I only opened the IWeb account with the intention of transferring full ISAs in from Vanguard which is % based so more expensive as my ISA grows.