SHAWBROOK BANK ISA TRANSFER IN NIGHTMARE

eskbanker

info_maniac said:

I've been burnt by Shawbrook as well. It took them nearly 1 month to transfer in a cash ISA from HSBC. My friend did a transfer from HSBC to Paragon at the same time which took just 3 days. After that I just avoid Shawbrook completely. 

To be fair, the mandated maximum timescale set out for cash ISA transfers is 15 working days, which can easily be nearly a month at a time of year when there are more bank holidays than usual.  Some providers do seem to be able to complete them faster than others, but the permitted window is quite wide....

jaceyboy

I had an easy access isa with Virgin and decided to move it to Shawbrook, it was a nightmare as they kept buggering it up by not selecting a box that told Virgin to close and transfer ALL funds across, after many calls too and fro I managed to get it transfered in the end

kitkat68

I moved a first direct isa to Shawbrook earlier in the year (Feb) and it was painless and was completed in around 4 working days

simbak

Finally my transfer was completed and Shawbrook admitted the delay was their fault. They gave me £50 compensation which is considerably less than the interest I lost. I am left with accepting that or taking a complaint to the financial ombudsman. 

auser99

simbak said:

Finally my transfer was completed and Shawbrook admitted the delay was their fault. They gave me £50 compensation which is considerably less than the interest I lost. I am left with accepting that or taking a complaint to the financial ombudsman. 

Ahh, this is obviously their standard, as I've had similar recently.
Because they didn't name themselves on the payment, just a 7 digit claim number from a letter (which I'd not clocked on reading it), it took a while to work out it from them.

Would have thought they'd send a letter confirming, and to expect the payment. Seems unusual to get the money and assume an explanation later.