Yorkshire Isa Transfer

Frogletina

Update so far

I visited my local YBS branch a few days ago and completed forms there to transfer the second Virgin easy access ISA into my Flexible YBS ISA. This was rejected by Virgin and I was told via an online message from YBS to contact Virgin as YBS hadn't been given a reason.

YBS said they had definitely sent the transfer request to the right place in Virgin (first question I asked them) but after I made a call to Virgin and spoke twice more to YBS, they said they had sent it to the incorrect part of Virgin (08 sort codes instead of 05 sort codes)

So I raised a further complaint, and found out that despite my continual chasing of the original issue I had with not being able to arrange online transfers, no-one was currently dealing with it! The IT team had previously told the ISA team that the issue was not resolved, so I cannot understand why they were not dealing with it still and why it was not chased up after I raised my first complaint and gave the advisor full details of the issue once again and a screenshot of what I was seeing on the website.

However, my Virgin transfer has now completed, and I now await the outcome of my second complaint.

 

Rich2808

I requested three isa transfers into my virgin isa in late November. Two went through within 48 hours - the other from Yorkshire BS has still not happened.

Clearly there are some communication issues between the two. Perhaps its time I raised a complaint too!

soulsaver

Appears to work for me: manage ISA/transfer in/Switch another ISA to YBS/choose from drop down.

Shows several Virgin options.

Win 10/11 & Edge

Frogletina

Update on my second complaint about not being able to transfer ISAs online into YBS

Apparently when I transferred my current years ISA funds out in full, leaving just previous years funds, a block was put on any transfers in, which I have now been told is an error with the system, and has still not been resolved.

I have arranged a second transfer in, this time by post, and that is going through - it is just online transfers that have been affected.

The compensation I was offered in my opinion was not sufficient so I asked for a higher amount, which was accepted 

Rich2808

Frogletina said:

Update on my second complaint about not being able to transfer ISAs online into YBS

Apparently when I transferred my current years ISA funds out in full, leaving just previous years funds, a block was put on any transfers in, which I have now been told is an error with the system, and has still not been resolved.

I have arranged a second transfer in, this time by post, and that is going through - it is just online transfers that have been affected.

The compensation I was offered in my opinion was not sufficient so I asked for a higher amount, which was accepted 

I am still (as above) having the opposite problem with a transfer out from YBS to Virgin Money.

Sent 3 transfer requests on paper forms to Virgin in late November - the other two (with Skipton and Paragon) went through in 48 hours.

Virgin claim to have sent the request - a second time after YBS apparently rejected the first request. But YBS claim to have absolutely record of having received either transfer request.

No idea who to believe - but given there were no issues with my other transfers I can only assume its a YBS issue/problem?!

What to do - its a transfer into a 5.85% one year isa which is a pretty good rate now vs November! Perhaps its time for a formal complaint - which I believe I have to make via Virgin as the one accepting the transfer.

Frogletina

Rich2808 said:

Frogletina said:

Update on my second complaint about not being able to transfer ISAs online into YBS

Apparently when I transferred my current years ISA funds out in full, leaving just previous years funds, a block was put on any transfers in, which I have now been told is an error with the system, and has still not been resolved.

I have arranged a second transfer in, this time by post, and that is going through - it is just online transfers that have been affected.

The compensation I was offered in my opinion was not sufficient so I asked for a higher amount, which was accepted 

I am still (as above) having the opposite problem with a transfer out from YBS to Virgin Money.

Sent 3 transfer requests on paper forms to Virgin in late November - the other two (with Skipton and Paragon) went through in 48 hours.

Virgin claim to have sent the request - a second time after YBS apparently rejected the first request. But YBS claim to have absolutely record of having received either transfer request.

No idea who to believe - but given there were no issues with my other transfers I can only assume its a YBS issue/problem?!

What to do - its a transfer into a 5.85% one year isa which is a pretty good rate now vs November! Perhaps its time for a formal complaint - which I believe I have to make via Virgin as the one accepting the transfer.

Yes, you would need to make a formal complaint to Virgin. The 5.85% Virgin account was the one that I transferred my current ISA funds into from YBS, which has caused my problem, but I had no problem with the transfer of those funds which was done in October. 

The 5.85% ISA is a fixed one and no longer accepting transfers in, but if it is an error with Virgin, they should still be able to fix it for you. I'm not sure what the position is if it is an error with YBS, but I'm assuming that Virgin should have chased this up with YBS at the time.

Frogletina

Third complaint now raised with YBS - sorry, a rather long update

The IT issue is still outstanding from October, but when I sent a secure message to YBS last week, I was sent a message back to say that this had already been resolved and that I should have received a letter. Yes, I did receive a letter - and that said that the issue was still outstanding and was being monitored - which it is. 

My message was also about moving my ISA away from YBS now that it had matured, and that was also answered incorrectly, so I rang them rather than sending another message.

I explained to the advisor that my transfer away from YBS had been refused as I had requested the transfer of previous years funds only, but it was rejected by YBS saying that it included current years funds. The advisor spoke to the ISA team and told me that it did contain current years funds. I disagreed.  I tried to go through the list of transfers with him, but he was quite rude and told me to listen to him. He could see that I had arranged for 3 transfers in (I'd done this by going to the branch, due to not being able to do this online), but he said that these were replacing the current years funds, and therefore the ISA still had current years funds in it. I told him that these were previous years ISA funds but he was adamant that I had to amend my transfer out to say it contained current years funds. I said I would not do that as it was incorrect as my current years funds were in a Fixed ISA with Virgin. He wouldn't pass me to the ISA team and shortly after that put me on hold and I got cut off.

(I was hoping that since the ISA matured and got transferred to a different ISA my troubles would be over but it has the same account number and the same issues)

I rang again and spoke to another advisor, who was more understanding, but she said the issue was that the ISA once contained current years funding and that I need to tell the new ISA provider that - hmm, that seemed odd - she said I would have to ring them and tell them. I didn't.

I then spoke to a member of the complaints team - she looked into my issues in detail and rang me back. Transfer is now going through without my intervention as she only had to get a marker removed from the online account, and authorised it - no idea what the IT team are doing, but I got a call back from the person monitoring that side of the problem the next day, and they still don't have a solution. 

My new complaint is with the problems with transferring my ISA away from YBS, and with the first advisor. The lady in complaints told me that she listened to his call, and that while he was only telling me what the ISA team told him, it was clear that he was rude to me on the call. 

It was worth staying with YBS at 5.20%, but I've no reason to now. I will keep minimum funding in the new 2024 ISA, which hopefully will have not have any IT issues, but the rest is going.