Iweb ISA Transfer in - 2months and counting!

Umiamz

iWeb now saying 15 weeks for an ISA transfer...

mika_dm

My transfer now stretches to 3 months...and counting. After intermediating messages between HL and iWeb, it seems that HL blames iWeb for not sending some papers to them. iWeb blaming HL for not responding to papers they claim they sent. Both parties keep telling me they sent some new correspondence to the other party in the same day they responded to my emails. Well, transfer still didn't go through.
If I wouldn't have chased it, it would still being stuck at: they don't respond and they didn't sent this; but no one chased why that didn't happen.

So, my advice: start chasing them(both sides) everyday.

wmb194

My cash Isa transfer from Barclays has taken four months so far. Barclays tells me iWeb hasn't provided a transfer authority form and iWeb still hasn't done anything despite my chasing them a couple of times.

A brokerage account transfer from Barclays initiated in February partially completed with shares transferred in late April but there's an outstanding OEIC, so this is about six months now.

When I called about these in early June the young sounding guy I spoke to couldn't have cared less and I don't really fancy waiting 50mins on hold for another, "we're busy, dunno, we haven't agreed a date with Barclays" brush off. I wrote a letter to chase, and included Barclays' correspondence, a month ago, but, as you'd expect, I've received no response.

Robert_McGeddon

wmb194 said:

My cash Isa transfer from Barclays has taken four months so far. Barclays tells me iWeb hasn't provided a transfer authority form and iWeb still hasn't done anything despite my chasing them a couple of times.

I've just completed a cash ISA transfer from Barclays to a Hargreaves Lansdown S&S ISA. 3 working days. Barclays didn't seem to be a problem......

Aylesbury_Duck

I've had two on the go in recent months.  A S&S ISA transfer from Vanguard to iWeb that was started in late January, and a cash ISA transfer from Paragon started in April.  The cash transfer completed today, the S&S ISA is partly there - it's gone from Vanguard since last Thursday but is yet to show in iWeb.  Six months and counting...

mika_dm

So, after all it is the iWeb which is causing the problems. Good to know in the future. No more transfers to them I presume.

Aylesbury_Duck

mika_dm said:

So, after all it is the iWeb which is causing the problems. Good to know in the future. No more transfers to them I presume.

It depends what service you're after.  If you want an extremely low cost platform to hold funds you aren't going to fiddle around with or access for years, they're very good.  I got in at the £25 opening fee stage, so having sizeable holdings in there that cost nothing by way of platform fee is very much worth the long wait for an annual transfer of funds I don't need to access whilst they're in transit.  

mika_dm

Aylesbury_Duck said:

mika_dm said:

So, after all it is the iWeb which is causing the problems. Good to know in the future. No more transfers to them I presume.

It depends what service you're after.  If you want an extremely low cost platform to hold funds you aren't going to fiddle around with or access for years, they're very good.  I got in at the £25 opening fee stage, so having sizeable holdings in there that cost nothing by way of platform fee is very much worth the long wait for an annual transfer of funds I don't need to access whilst they're in transit.  

I plan to hold ETFs, ITs and shares. As I already have opened the account and I'm in the process of transfer I will keep this S&S ISA. But I won't transfer in another one. I will use probably Fidelity or HL as their cap limit is £45/year for ETFs, shares and ITs.

Just had another chat with iWeb about my transfer: they are waiting for HL to reply as they sent paperwork again(hence HL just told me yesterday they didn't receive anything from iWeb). Also filled a complain regarding my transfer with iWeb- they will contact me once they will check all the paperwork. Interesting to find out how this will develop.

Grenage

I started my transfer from fidelity to iweb last week; they did say it was probably going to take a few months.  I have no plans to trade the shares held so it doesn't really matter how long it takes.

iweb have been pretty decent.  Their range of shares is a little thin compared to Interactive Investor, so I might move their way next year.

mika_dm

Grenage said:

I started my transfer from fidelity to iweb last week; they did say it was probably going to take a few months.  I have no plans to trade the shares held so it doesn't really matter how long it takes.

iweb have been pretty decent.  Their range of shares is a little thin compared to Interactive Investor, so I might move their way next year.

If I wouldn't have chased the transfer, it would have lasted forever as neither iWeb, neither HL moved to see why it doesn't go forward. When I started iWeb site said transfer will last 6-8 weeks. Now it has been 3 months and still on the first stage of the transfer.