shawbrook isa - missing funds ??

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  • billn
    billn Posts: 318 Forumite
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    saudi said:
    have Shawbrook gone bust ? my isa has disappeared - it matured yesterday and has not been reinvested - the balance IS NIL -  THEY SEEM TO HAVE STOLEN MY MONEY >??
    AMYONE ELSE WITH MISSING MONEY - Please help
    Have you checked your closed account as others on here have suggested and if you have is the money still showing in the matured account?

    I had an ISA mature yesterday and selected to have it reinvested as you have, the new account is open but empty and my matured account is still showing the full balance including the interest on closure, as far as I can remember this is the same as the last time I had an ISA mature with Shawbrook.

    I do not want to sound condecending but take a moment to check the old account and try not to worry about the money not appearing in your new account but give it time to adjust.

    If at first you don't succeed, sky diving is not for you!
  • dali21
    dali21 Posts: 175 Forumite
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    Anyone else with a matured ISA still waiting for it to be transferred to their chosen maturity option?

    It's almost 2 weeks since my maturity but Shawbrook still have not moved the funds and it's stuck in the closed account.
  • I foresee lots of compensation in your futures.
    Loss of interest, time on calls etc, had to borrow cash from family to meet the bill.
    Ka-ching.
  • billn
    billn Posts: 318 Forumite
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    I'm still waiting for mine to appear in the new account, I rang them at the begining of the week and got the same answer as the op that they knew about it and were dealing with it and there would be no loss of interest because it would be back dated. I'm not sure if this is only affecting reinvestments and not those wishing to cash in or transfers to other providers.

    I have sent a message to them just to remind them because my phone call wasn't account specific.
    If at first you don't succeed, sky diving is not for you!
  • Not sure what’s happening with Shawbrook right now.
    My wife is waiting for an ISA to be transferred from Nationwide which should have happened on Oct 15th (fixed rate) but still hasn’t.
     I had one also from Nationwide which transferred on the same day it matured so was very efficient.
    Wife has contacted Shawbrook and they said they’ll contact Nationwide again. Very strange as so far, Shawbrook have been extremely efficient.
  • billn
    billn Posts: 318 Forumite
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    My matured Shawbrook ISA has finally been transferred into my new Shawbrook ISA 1 year fixed @5.83%, it took them 12 working days but got there in the end. From what I could gather from the reply to my message was they had to process them manually and it was done in date of maturity order.
    If at first you don't succeed, sky diving is not for you!
  • Albermarle
    Albermarle Posts: 21,929 Forumite
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    billn said:
    My matured Shawbrook ISA has finally been transferred into my new Shawbrook ISA 1 year fixed @5.83%, it took them 12 working days but got there in the end. From what I could gather from the reply to my message was they had to process them manually and it was done in date of maturity order.
    Good, hopefully the OP's money also appeared, unless they have had a heart attack from the stress !
  • billn
    billn Posts: 318 Forumite
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    edited 27 October 2023 at 12:39PM
    I can sort of see where the OP was coming from but I think saying the money had been stolen was a bit strong. I hope Shawbrook have sorted out the problem my wife has an ISA maturing in December. :'(
    If at first you don't succeed, sky diving is not for you!
  • Just jumping on this as I have a shawbrook ISA maturing at the beginning of December.  It's close to the £85k limit.  Will they allow me to fix half and put the other half in a cash ISA so I can ultimately transfer it away?
  • billn
    billn Posts: 318 Forumite
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    I don't think you would be able to do what you want as a maturity instruction, I think it has been mentioned on this forum before, you would have to have to let the ISA mature into the Cash ISA Matured Account then transfer it from there.

    This is copied from my maturity letter.

    Your maturity options
    It’s time to tell us what you’d like to do next. You can choose one of the following options.

    Transfer your full balance to one or more of our other ISA accounts (You can review our
    accounts below and on Shawbrook.co.uk/savings)

    Transfer your full balance to another ISA provider

    Transfer part of your balance to one or more of our other ISA accounts. Withdraw the
    remaining balance to your nominated account

    Transfer part of your balance to another ISA provider. Withdraw the remaining balance to
    your nominated account

    Withdraw your full balance to your nominated account

    If you transfer your balance to another ISA you will keep the tax-free status on that amount. If you
    make a withdrawal, you will lose the tax-free ISA status on the amount that you withdraw.
    If we do not hear from you before 10/10/2023 , we will convert your account to a Cash ISA
    Matured Funds account paying 0.10% Gross/AER (variable). You can move your money from
    this account at any time.

    If at first you don't succeed, sky diving is not for you!
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