Why do I have to go in to branch to transfer an ISA?

xylophone

The Cynergy ISA does not appear to accept a transfer in from a stocks and shares ISA but you can open and at that point   apply to transfer in  your cash ISA.

It might be easier to transfer your S&S ISA to your Nationwide ISA and then transfer the combined sum to Cynergy or elsewhere?

Reed_Richards

refluxer said:

I've never personally done a S&S to Cash ISA transfer though, which might be a bit more of an involved process than a Cash ISA to Cash ISA transfer.

Presumably the easiest way to do this is to sell all the stocks and shares so the Vanguard ISA only holds cash.  Otherwise Vanguard will have to do the same thing when asked to transfer the ISA but there might be a bit of toing and froing whilst they confirm with you that that is what you want.

Albermarle

Reed_Richards said:

refluxer said:

I've never personally done a S&S to Cash ISA transfer though, which might be a bit more of an involved process than a Cash ISA to Cash ISA transfer.

Presumably the easiest way to do this is to sell all the stocks and shares so the Vanguard ISA only holds cash.  Otherwise Vanguard will have to do the same thing when asked to transfer the ISA but there might be a bit of toing and froing whilst they confirm with you that that is what you want.

One issue with a transfer in cash is that you are out of the market for a period. During this time the market could suddenly go up or down a few per cent, meaning you either gain or lose out.
Normally the existing provider will sell your investments to cash only once all the paperwork for the transfer is sorted out . So although the transfer process may take a couple of weeks or more, you will probably be only be in cash a few days at most.
However if you sell to cash yourself at the start of the process, you will be in cash longer, and could be a lot longer if there is a delay in the process, which is not uncommon.

Reed_Richards

Albermarle said:

One issue with a transfer in cash is that you are out of the market for a period. 

Whilst this is entirely true, it seems the OP wants to transfer to a Nationwide Cash ISA and thereby exit the market.

ANGLICANPAT

Ive just transferred  cash from Iweb isa  to existing  loyalty Nationwide  isa for same reasons as you  and had to go into branch as well. 

badmemory

One of the things about the Nationwide seems to be that as part of their know your customer they do actually like to know their customer.  As in actually speak to them.  Remember they are not actually a remote bank but a building society.

masonic

badmemory said:

One of the things about the Nationwide seems to be that as part of their know your customer they do actually like to know their customer.  As in actually speak to them.  Remember they are not actually a remote bank but a building society.

It doesn't seem to be the case generally though, just with certain products and services. For example, I've opened, used and closed multiple current accounts and non-ISA savings products with them over many years and have not once had any cause to speak to a member of staff, either in branch or via telephone (and that's how I like it). I've been able to do everything I needed online or via secure messaging (or occasionally by post).

callum9999

badmemory said:

One of the things about the Nationwide seems to be that as part of their know your customer they do actually like to know their customer.  As in actually speak to them.  Remember they are not actually a remote bank but a building society.

In what way? Nationwide knows absolutely nothing about me that my banks don't also know (despite Nationwide being my very first account back when I was a small child). If they were a tiny single-branch building society I could understand the personal-touch you're describing, but they are the biggest BS on the planet and have over 16 million members. They couldn't possibly get to know us even if they wanted to (which I'm 100% certain they don't!). 

Albermarle

masonic said:

badmemory said:

One of the things about the Nationwide seems to be that as part of their know your customer they do actually like to know their customer.  As in actually speak to them.  Remember they are not actually a remote bank but a building society.

It doesn't seem to be the case generally though, just with certain products and services. For example, I've opened, used and closed multiple current accounts and non-ISA savings products with them over many years and have not once had any cause to speak to a member of staff, either in branch or via telephone (and that's how I like it). I've been able to do everything I needed online or via secure messaging (or occasionally by post).

Same for me mostly. Branch visits in last year were to pay in a cheque, and pay in some old Pound coins I found. In the same year I have opened a fix rate non ISA, a fix rate ISA and a regular saver.
Although Nationwide's saving rates are often not competitive, in the cases above they were at the time.

B0bbyEwing

I don't know if this is normal but on the topic of Nationwide, this certainly seems strange to me.

My mortgage is with Nationwide. When I moved house my address was updated.

I want to upgrade an account. I have 2 current accounts with them.

Story short, they have my OLD address linked to one account, even though that address isn't in my personal info & they have my current address tied to the other account.

How they've managed this I've no idea but I now need to phone up to update my address. 

Some may think this is perfectly normal. I think it's perfectly ridiculous.