Transfers FROM Vanguard, what's the deal please?

Aminatidi

I'm contemplating transferring an ISA from Vanguard to IWeb.

I've read some absolute horror stories about transfers from Vanguard taking an unacceptable long time and simply stalling in many cases.

The ISA is a couple of hundred grand so there's an argument that whatever it costs me in fees at least it's not "stuck" in an inaccessible state.

Appreciate that people tend to moan about transfers that go badly but may not be as quick to mention ones that go as you'd hope.

So has anyone any recent experience of transferring from Vanguard and if so what was that experience please?

mick08

I tried to transfer in, an isa, it never happened, I think I had a lucky escape, still have an older isa with them which will be moved in April. Looking at the Facebook forum, their customer service leaves a lot to be desired.

Not having an app nowadays is strange!

granta

I have done various transfers in and out of different providers, usually in specie if allowed, and generally nearly all experiences have been positive in terms of accuracy and speed (2-6 weeks max).

BUT - my ongoing transfer OUT of Vanguard has been an outlier in these experiences. Started it in April, still not complete and no sight of the end with pretty poor communication. I may have just been unlucky and maybe once it got stuck in some kind of error loop, that prolonged the delays. 
I guess if you're not in a hurry and you're doing it in specie, then perhaps it doesn't matter so much. I've been able to trade on the account even though it's in progress.

They've acknowledged a complaint but won't look at it until the transfer completes.

Swipe

mick08 said:

Not having an app nowadays is strange!

A Vanguard UK app is on the horizon

sausage_time

Swipe said:

mick08 said:

Not having an app nowadays is strange!

A Vanguard UK app is on the horizon

Why?  The Vanguard web site works well on a mobile browser.

mick08

Swipe said:

mick08 said:

Not having an app nowadays is strange!

A Vanguard UK app is on the horizon

Too late for me I'm afraid, I'll be away in April.

sausage_time

Aminatidi said:

I'm contemplating transferring an ISA from Vanguard to IWeb.

I've read some absolute horror stories about transfers from Vanguard taking an unacceptable long time and simply stalling in many cases.

The ISA is a couple of hundred grand so there's an argument that whatever it costs me in fees at least it's not "stuck" in an inaccessible state.

Appreciate that people tend to moan about transfers that go badly but may not be as quick to mention ones that go as you'd hope.

So has anyone any recent experience of transferring from Vanguard and if so what was that experience please?

My recent Vanguard to iWeb transfer took just a few working days (in specie).  Comms from both sides was good.

Rich1976

They were just awful when we tried to transfer a Sipp back to our original provider . They simply couldn’t just do the basics without some mistake happening and finally failed to transfer the remaining tax relief which came in a few weeks after the rest of the balance had transferred. I am not sure if their customer services is outsourced but they are hardly shining lights for a company which has a good name. Even the short period of time we were with them there were a few basic errors 

unfortunately it put us off using them directly again. If they can’t get the basics right there’s not much hope.

Lifematters

I started transferring my pension out of Vanguard in January this year. Still waiting for transfer to go through.  Loads of excuses and promises from them. I have put in two complaints and also referred to financial ombudsman. Vanguard have been so incompetent and caused me so much stress over it I really want nothing more to do with them after this. 

Quorden

I initiated my transfer request from Vanguard on 9th August, my funds were disinvested on 4th September and then they were transferred to II on 2nd October. 
Did chase a couple of times but apparently "we are waiting for our internal teams to authorise the transfer out."
Not the best but by sounds of it not the worst experience of a transfer/

Aminatidi

Thanks all and this illustrates the dilemma.

Some "it was really quick" and some where I'm scratching my head thinking !!!!!! at how it can take so long.