It shouldn't be this difficult - should it?

85 Posts


Back in October (13th) I applied, by post, (no option as couldn't get on-line option to work for some reason) to open an ISA with Bank B to be funded with whole balance of previous years cash ISA funds held at Bank A.
Bank A closed the account and transferred funds on 16th November.
Funds still haven't appeared in Bank B's ISA account.
Contacted Bank B yesterday to request an update.
They are waiting for a "transfer history form" from Bank A and they advised that "perhaps you would like to contact Bank A and request the form".
Thankfully, they have confirmed that they are in receipt of my money but they cannot fund my new account without this form apparently.
Is it not their job to chase up required documents they need if they accept transfers in?
It shouldn't be this hard should it?
I thought 15 working days was the time scale for this sort of transfer - am I wrong?
Anything else I could do to prompt some action here?
I have spoken to Bank A and requested said form and also sent a letter to them confirming this request.
Bank A closed the account and transferred funds on 16th November.
Funds still haven't appeared in Bank B's ISA account.
Contacted Bank B yesterday to request an update.
They are waiting for a "transfer history form" from Bank A and they advised that "perhaps you would like to contact Bank A and request the form".
Thankfully, they have confirmed that they are in receipt of my money but they cannot fund my new account without this form apparently.
Is it not their job to chase up required documents they need if they accept transfers in?
It shouldn't be this hard should it?
I thought 15 working days was the time scale for this sort of transfer - am I wrong?
Anything else I could do to prompt some action here?
I have spoken to Bank A and requested said form and also sent a letter to them confirming this request.
0
Latest MSE News and Guides
Replies
Unlikely that there's much you can do other than to complain to bank B (feel free to name them both btw) and to validate that they backdate interest correctly to the date the funds left bank A.
It is certainly not your responsibility to chase it.
See https://www.gov.uk/guidance/transfer-an-isa-if-youre-an-isa-manager
Where the old ISA manager does not send the transfer history form to the new ISA manager when transferring the ISA he should:
I shall, in the meantime, practice my yoga chanting!
Edited: Ignore me Ocelot. You clearly stated transfer out in your post.