Transfer in to Shawbrook Bank

Just a quick question to those that have done this.  I have opened a Shawbrook fixed term ISA and completed all the sections to transfer from Aldermore.  Account opened without any problem, but I'm not sure if I have to print off the ISA transfer form, sign and send it to them or is it all done through the online form I filled in?  There was no mention when completing that I had to print off and send it to them, but I noticed that on the form itself it does have a space for a signature and date.  They are closed now so can't ring them.  Thanks in advance
Angela

Comments

  • Rusty190
    Rusty190 Posts: 188 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Hi @GrubbyGirl_2.
    The information you need is under "Additional Information" in the Shawbrook ISA page.
    It says:
    "Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused".
    Personally, I'd complete the form and phone them tomorrow  - belt and braces.
  • Rusty190 said:
    Hi @GrubbyGirl_2.
    The information you need is under "Additional Information" in the Shawbrook ISA page.
    It says:
    "Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused".
    Personally, I'd complete the form and phone them tomorrow  - belt and braces.
    I think you're right, if I'll call them tomorrow - I may send it anyway!
  • isasmurf
    isasmurf Posts: 1,998 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You only need to print and sign the transfer form if either where you are transferring from or to is not part of the BACS cash ISA (electronic) transfer system. As you can see from the list Shawbrook provides Aldermore is part of this system. 
  • isasmurf said:
    You only need to print and sign the transfer form if either where you are transferring from or to is not part of the BACS cash ISA (electronic) transfer system. As you can see from the list Shawbrook provides Aldermore is part of this system. 
    Oh that's brilliant, thank you.  You just saved me the cost of a first class stamp and the uncertainty of when it will get there with the industrial action.
  • refluxer
    refluxer Posts: 3,130 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    I opened a Shawbrook Fixed Rate ISA on Friday (transferring in from Paragon) and asked the same question here...

    https://forums.moneysavingexpert.com/discussion/comment/79674668#Comment_79674668

    I received a message via online banking today, letting me know it'll be carried out electronically so you'll probably get a similar message tomorrow I would think. Just to add to the confusion, it'll come alongside a copy of the form you'd otherwise have to post but this is just for your records !
  • refluxer
    refluxer Posts: 3,130 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    Just as an update, the timeline for opening a Shawbrook ISA and transferring in from Paragon for me went like this...

    Friday - opened Shawbrook ISA online and requested transfer 
    Monday - received notification from Shawbrook that the transfer would be carried out electronically
    Tuesday - received notification that the transfer request had been accepted by Paragon
    Wednesday - transfer carried out and funds received (text message confirmation from Shawbrook)

    ...so the whole process was completed in 3 working days. Very impressed.

    Judging by the post I linked to above though, the speed of the transfer can obviously depend on the efficiency of both providers. In my case, both Shawbrook and Paragon appear to be very efficient, whereas the OP in the other post appeared to suffer poor service by transferring in from Nationwide.

  • Just thought I'd update on what happened.

    Friday morning - opened account and completed transfer request
    Friday afternoon - email from Aldermore stating they had received the instruction
    Monday - message from Shawbrook stating the  transfer request had been accepted
    Tuesday - money transferred to my account.

    Cannot fault any part of the process
  • isasmurf said:
    You only need to print and sign the transfer form if either where you are transferring from or to is not part of the BACS cash ISA (electronic) transfer system. As you can see from the list Shawbrook provides Aldermore is part of this system. 
    Thank you for posting that link, I just used it. I could have checked but remembered this link and  just made a screenshot.  Still worth checking it's correct at the relevant time but helpful to take a glance in advance.  :)
    Yeah, cheers but nah, I will stick with yes,  thank you and no. 

    Thank you. 
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