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Transfer in to Shawbrook Bank

GrubbyGirl_2
Posts: 913 Forumite

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
Angela
0
Comments
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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.0 -
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.0 -
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.2
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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.0
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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 !0 -
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.
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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 process1 -
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.Yeah, cheers but nah, I will stick with yes, thank you and no.
Thank you.0
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