Iweb ISA Transfer in - 2months and counting!

easterbunni

easterbunni said:

Not sure when this happened, I haven't been logging in every day, but so far the shares (ITs) and ETFs have transferred from Halifax to iWeb, but the funds are still with Halifax at the moment. So roughly four weeks for that to happen. Sadly no forum records here though.

All funds and shares transferred, but cash still sitting at Halifax

Aylesbury_Duck

Spoke to iWeb today, because the transfer in that I Initiated in January still hasn't completed.  The funds disappeared from the donor account in mid July but still aren't available in iWeb.  I've registered a formal complaint, because although I'm fortunate that I don't need to access the funds, had I needed to they would have been inaccessible for a month so far.  

sairy.gamp

sairy.gamp said:

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?

My inward Cash ISA transfer completed a few days ago, and so it has taken an incredible 3 1/2 months. That of my partner is still outstanding though (initiated at the same time). We have sensed utter incompetence and deceit from Iweb throughout.

Aylesbury_Duck

I've been chasing iWeb after six months, and they're now blaming Vanguard for not yet releasing the funds!  The funds disappeared from Vanguard a month ago now.  This is so frustrating.  And not a little unnerving that between them, two financial companies can't definitively agree where my investments are!  It might be time to go to the ombudsman because I'm fed up of each blaming the other and in the meantime, I can't access or even see my investments.

Lychee

I was prepared to be waiting a long time for my cash to be transferred but it hasn't been a nightmare after all. Cash ISA transferred from Coventry BS to iWeb just completed, took 3.5 weeks

valiant24

Aylesbury_Duck said:

I've been chasing iWeb after six months, and they're now blaming Vanguard for not yet releasing the funds!  The funds disappeared from Vanguard a month ago now.  This is so frustrating.  And not a little unnerving that between them, two financial companies can't definitively agree where my investments are!  It might be time to go to the ombudsman because I'm fed up of each blaming the other and in the meantime, I can't access or even see my investments.

I am 4 months and counting with transfers from Embark and Selftrade (now EQi, now ii) to iWeb.   Spoke to the iWeb lady again last week and she blames each of the other two, saying they can't cope following takeovers.

As you say the most frustrating thing is to be stuck in the middle, not really knowing whose fault it really is in either case.

pip895

I have cash sitting around in a small Funding Circle ISA which is winding down.  Basically as loans are repaid they sit in cash until I either transfer them out or withdraw them.  Earlier this year I transferred two batches of £1000 across to iWeb - they took about 3 weeks each I suppose - not a big issue.
Having seen this thread I have decided not to bother again so I have just withdrawn the cash.  Next year I will have spare ISA allowance anyway and can just drop it in on the 6th of April.  I don’t want either to get involved in a saga lasting months or to add to the chaos being experienced by others. It would take a very large (>0.25%) cost saving to induce me to move platforms with my main ISA!

soulsaver

Interactive's £100 isa transfer bonus extended: August '21 — MoneySavingExpert Forum

I cancelled my IWeb transfer in  (from Kent RBS) and switched it on line to II  - took 10 days to arrive. With the current £100 incentive it may suit some.

The transfer only has to be initiated in August to qualify for the bonus for when the min £20k arrives. 

Aylesbury_Duck

pip895 said:

I have cash sitting around in a small Funding Circle ISA which is winding down.  Basically as loans are repaid they sit in cash until I either transfer them out or withdraw them.  Earlier this year I transferred two batches of £1000 across to iWeb - they took about 3 weeks each I suppose - not a big issue.
Having seen this thread I have decided not to bother again so I have just withdrawn the cash.  Next year I will have spare ISA allowance anyway and can just drop it in on the 6th of April.  I don’t want either to get involved in a saga lasting months or to add to the chaos being experienced by others. It would take a very large (>0.25%) cost saving to induce me to move platforms with my main ISA!

Indeed.  I've played the game where I drip-feed my annual allowance into Vanguard, then dump the lot into iweb and start again with Vanguard.  I suspect this will be the last transfer into iWeb for a while - I'll just suck up the 0.15% platform fee from Vanguard for a year or two until (if) iWeb get themselves straight.

Aylesbury_Duck

valiant24 said:

Aylesbury_Duck said:

I've been chasing iWeb after six months, and they're now blaming Vanguard for not yet releasing the funds!  The funds disappeared from Vanguard a month ago now.  This is so frustrating.  And not a little unnerving that between them, two financial companies can't definitively agree where my investments are!  It might be time to go to the ombudsman because I'm fed up of each blaming the other and in the meantime, I can't access or even see my investments.

I am 4 months and counting with transfers from Embark and Selftrade (now EQi, now ii) to iWeb.   Spoke to the iWeb lady again last week and she blames each of the other two, saying they can't cope following takeovers.

As you say the most frustrating thing is to be stuck in the middle, not really knowing whose fault it really is in either case.

I'm fairly certain it's iWeb's fault.  They are the common denominator in all of these examples, it can't be that all the other companies mentioned are simultaneously incompetent or understaffed.  I've had three different answers to the same enquiry in as many weeks on two webchats and one phone call, so they're clearly just saying things to fob me off or kick the can down the road.  They really should have considered halting inward transfers when it was apparent they hadn't got the resources to deal with the existing backlog.  I'll give them another two weeks then I'll be starting the ombudsman process.  After seven months and counting, my patience has run out.