Virgin 1 Year 4.25% - Transfer Glitch

bioboybill

Qyburn said:

Yes if you want it all in the 1 year fix. Open the new account, kick off the transfer process and then pay in the extra cash.  You say "just over £16K", is the because interest was paid, or did you pay in more than £16K.

I paid in just over £16K.

Qyburn

OK so transfer the existing account, then pay in "just under" £4K to keep within the limit. Don't do it the other way round, you're not allowed to pay into two Is as in the same tax year.

bioboybill

Qyburn said:

OK so transfer the existing account, then pay in "just under" £4K to keep within the limit. Don't do it the other way round, you're not allowed to pay into two Is as in the same tax year.

But wouldn't that be paying into two in the same year? I paid into the 3% one only a few weeks ago. I'm confused lol.

Aidanmc

bioboybill said:

Qyburn said:

OK so transfer the existing account, then pay in "just under" £4K to keep within the limit. Don't do it the other way round, you're not allowed to pay into two Is as in the same tax year.

But wouldn't that be paying into two in the same year? I paid into the 3% one only a few weeks ago. I'm confused lol.

When you do a full transfer, the initial ISA will be closed so you will be left with 1 active subscribing ISA which you can add the 'just under 4k' too

bioboybill

I opened the new ISA tonight successfully, but got the same transfer glitch as everybody else lol. Will see what happens in the next day or two.

guli

bioboybill said:

I opened the new ISA tonight successfully, but got the same transfer glitch as everybody else lol. Will see what happens in the next day or two.

usually it will be fine

bioboybill

I got onto livechat this morning to see if the transfer was on the system. Was a waste of time. They just said it should happen within 15 days. When I asked them to confirm the transfer was on the system I was instantly logged out and livechat wouldn't work for the rest of the day.

Aidanmc

bioboybill said:

I got onto livechat this morning to see if the transfer was on the system. Was a waste of time. They just said it should happen within 15 days. When I asked them to confirm the transfer was on the system I was instantly logged out and livechat wouldn't work for the rest of the day.

Don't worry, there's a good chance it will be completed tomorrow.

soulsaver

Live chat on Friday said confirming (the transfer was being processed) was nothing to do with them.
They gave a phone number that I told them I'd already tried holding on several times until I got cut off! 
Then, 'Is there anything else?'

Deplorable service, probably heading for a formal complaint if the transfer doesn't process.

Shedman

Anyone know if more than 1 one year fix 4.25% is permitted?  (It was with the flexi 3% one).  

 

Just that when I opened the first one I didn't instruct a transfer in at the time of opening as I wanted to wait a bit as I had to 'reload' another flexible ISA that I was planning to transfer in and need a couple of weeks to sort it.  But now want to transfer in my Virgin Flexi ones instead.  But I now find out that I've either got to phone them or fill in a form and post it.   Whereas it would be quicker and easier just to open another one and instruct transfers at time of opening (system glitch issue noted) and let the first one lapse.