Marcus ISA Transfer

xylophone

The transfer is complete and date of receipt is indeed recorded as the date on the cheque.

searching4bestrates

I think I've managed to transfer my ISA out of Marcus and into Nationwide by going into branch.

(Possibly) helpful hint: "Marcus by Goldman Sachs" isn't searchable on their systems. The account needs to be described as Goldman Sachs International Bank.

I was advised it would take 2 weeks for Marcus to transfer the funds over to Nationwide...

For such a user-friendly online only account, I do find it crazy that their ISA is so restrictive/old fashioned with respect to transfers.

2010

Marcus is not a member of the Electronic ISA Transfer scheme.

https://www.cynergybank.co.uk/media/2021/s-marketing-products-cash-isa-isa-transfer-current-list-of-bacs-electronic-isa-scheme-members-website-1110119.pdf

They seem to want paperwork with an actual signature sent to them and then they send a cheque by post.
Antiquated to say the least.

I filled out an ISA transfer form to NBS and posted it last Sunday.
Not heard or seen any movement in either account yet.
Won`t be using Marcus savings ever again once it`s done.

xylophone

Just an addition to this topic - last Friday (7th) I instituted a partial transfer from my Yorkshire BS ISA to my Coventry ISA (expecting fairly rapid action as Yorkshire BS is a member of the electronic ISA transfer system).

Still no action on either account.

2010

Just an addition to my post above, two weeks tomorrow since I posted my ISA transfer form to NBS.
I know they have received it but they don`t seem to be in any hurry to send it to Marcus.
"It will be sent in due course", was the reply I got.
NBS is either swamped with ISA applications or they are still working from home.

southone

I started the process of moving my Marcus isa to Coventry last Sunday receive the filled out transfer form from Coventry Wednesday and posted it back the same day so we wait to see how long that takes fingers crossed

xylophone

NBS 

Did you mean CBS?

As you know from my previous, my ISA transfer from Marcus to Coventry BS started on 1st September and wasn't finally completed (showing in Coventry a/c) until 5th October, albeit that the transfer was backdated to 26th September (date of Marcus cheque).

The assumption was that this took so long because (unlike my transfer from Nationwide to Coventry which took three days),Marcus is not a member of the electronic transfer system.

However, YBS is a member of the ETS and though a week has passed, my transfer request has still not been actioned.

2010

NBS
Newcastle B/soc 3.6% issue 61 ISA 1yr fix.

xylophone

However, YBS is a member of the ETS and though a week has passed, my transfer request has still not been actioned.

And now a fortnight has passed and no action.....

I am quite surprised at this as the Nationwide to Coventry was so rapid  - just a couple of days.

I had thought that this was because both were members of ISA ETS but perhaps not.

2010

They all seem to be apathetic to ISA transfers.

I opened a Newcastle on the 29th Sept, filled in the transfer forms, posted them and waited.
Two days ago I got a letter saying they had sent the transfer request to Marcus.
They also warned that if I failed to get the money into the new account within 30 days of opening they would close the account.
So, it`s my fault if there`s a delay, after they were inert for 21 days.

I promptly phoned Marcus and told them if they eventually get a transfer request from Newcastle to ignore it.