YBS ISA Transfer out delays

xylophone

Spoke to Shawbrook and explained above-they completed another electronic transfer, saying it needed to be completed in a particular way for YBS 

An electronic transfer request presumably?

Opened a Shawbrook ISA end of August, completed an online request to transfer the full ISA from YBS.
First attempt, only this years contributions transferred by YBS.

Then Shawbrook knew the "particular way"...... but failed to follow it on subsequent attempts?

getting_close

All now sorted, although I did have to chase Shawbrook to check if they had received the monies after YBS transferred the remaining balance plus interest on the 22nd.
I am down at least £50 in lost interest due to this 2 month transfer saga.
If YBS only communicated with Shawbrook  and explained why the 6 attempts or so to transfer the ISA had been declined etc it would have hopefully resolved the process a lot earlier.
If only YBS/Shawbrook had explained clearly to me what was happening. The back office (IT?) seem to be the ones not communicating to the front line advisers. The YBS frontline staff did refer to the IT section after running out of explanations.
Shawbrook picked the phone up quite quickly, YBS a lot longer wait for someone to answer
Still have the outstanding complaint with YBS-received an apology from YBS that it could  be a further 4 weeks before they reply. (taking them up to the 8 week limit) 

xylophone

Still have the outstanding complaint with YBS-received an apology from YBS that it could  be a further 4 weeks before they reply. (taking them up to the 8 week limit) 

Let's hope that you'll be compensated for the lost interest.

bristolleedsfan

Posts across different threads about Shawbrook ISA transfers, thought worth adding my latest twist to saga.

I replied to Shawbrook mentioning YBS seem surprised Shawbrook telling customers to contact YBS for info on why transfer has not gone through when it is new ISA provider that is supposed to be managing the transfer, also mentioned YBS need forms completed in a certain way which some Shawbrook staff are seemingly aware of. (keeping it low key as do not want Shawbrook to have a reason not to do ISA transfers into existing fixed rates at a later date)

Shawbrook response was that YBS rejected transfer insufficient funds. ( £1000 transfer from balance of £2000) asked me to make sure sufficient funds and to let them know if I wish for transfer request to be re-submitted)

I did not get any notification from YBS that they received a transfer request.

getting_close

Just for some sort of Balance-
Moved my wife's ISA from YBS to Virgin this week. It's taken only 3 days for it to show in the new Virgin account. Think the funds are showing as uncleared in Virgin account but still good going.

bristolleedsfan

Continuing saga following up on my most recent update, the day after Shawbrook informed me it had re-submitted ISA transfer to YBS, I received another message from Shawbrook saying contact existing ISA provider (again)

I have now run out of words to go back to Shawbrook, over the weekend will contact YBS detailing saga so as to get some words from them to go back to Shawbrook.

xylophone

Compare my part transfer Virgin to Skipton.

Requested yesterday morning and completed this afternoon.

orange-juice

My YBS ISA seems to be taking a while to transfer out too, to Moneybox. Requested on 6/11. Also having issues with the YBS app, buts that’s a separate issue.

Edit: all complete on 15/11.

getting_close

Received the follow up to my complaint to YBS-They apologized, but did gloss over some bits of the failed processes. Along with a small, but acceptable compensation payment.

bristolleedsfan

Response I have had from YBS regarding problems Shawbrook have had completing £1000 ISA transfer (in)

Original part transfer £1000 request I submitted 28 July at the same time as applying for 5 year fix, YBS say they did not receive ready for payment message from Shawbrook, as transfer was not progressing YBS advised Shawbrook to re-submit their request.

Since then, we received another request from Shawbrook for 2425.86 received on 23 October (start date showing as 16th). However, this was rejected by us as shown on the tracker status due to insufficient funds on the account. The customer holds a balance of only 2001.17. ( Part transfer request was £1000.00)