Barclays to Virgin ISA transfer rejected

My Barclays fixed ISA is up and I wanted to transfer to another fix. I opened a new ISA with Virgin Money and made the transfer request as part of the account opening.

I've now noted a letter from Barclays on my online account stating they have rejected the transfer. "Unfortunately we haven't been able to validate your ISA transfer information" is all the explanation provided.

I've got a printout of my transfer request and have carefully checked the details. The name, address etc. held by both banks definitely match. Clearly I provided correct Barclays account details or they wouldn't have known who to write to... I don't see any error.

Does anyone have any clue what the issue could be? I'm a bit tempted to take the 'rejected passport photo' approach and just submit again.
«13456789

Comments

  • eskbanker
    eskbanker Posts: 29,765
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    Ask Virgin Money what the issue is, as it's up to them as the receiving provider to resolve it one way or another - it's plausible that they've messed up and sent Barclays something that didn't correspond closely enough with what you submitted to them (VM) in the first place, for example....
  • I had the same transferring from Lloyds to Gatehouse. When things hadn't happened rang Lloyds who said they hadn't received the transfer request. Rang Gatehouse who said the transfer had been rejected by Lloyds. Gatehouse sent the request again. After a few days nothing had happened so rang Lloyds again who said they hadn't received the second request. Rang Gatehouse who said Lloyds had rejected the transfer again as they couldn't locate the account. Have given up and will try again elsewhere.
  • refluxer
    refluxer Posts: 2,521
    First Anniversary First Post Photogenic Name Dropper
    Forumite
    edited 13 December 2023 at 6:32PM
    Judging by the complaints about them on this forum, Virgin Money struggle to even manage internal transfers so it's not surprising to hear they also struggle with external transfers. Transferring away from them can also cause issues, too. There is a long thread about Virgin Money ISA transfers and their poor customer service here.
  • If you live near a virgin money store then that's the best way imo to do ISA transfers. My local store (now closed down) would check my form, scan it and email it to the ISA department. Transfers took 2 days this way.
    HTH

    sx
  • refluxer said:
    Judging by the complaints about them on this forum, Virgin Money struggle to even manage internal transfers so it's not surprising to hear they also struggle with external transfers. Transferring away from them can also cause issues, too. There is a long thread about Virgin Money ISA transfers and their poor customer service here.
    I wouldn't touch Virgin Money with anyone's barge pole.

  • fuzzzzy
    fuzzzzy Posts: 36
    First Post First Anniversary
    Forumite
    My Barclays fixed ISA is up and I wanted to transfer to another fix. I opened a new ISA with Virgin Money and made the transfer request as part of the account opening.

    I've now noted a letter from Barclays on my online account stating they have rejected the transfer. "Unfortunately we haven't been able to validate your ISA transfer information" is all the explanation provided.

    I've got a printout of my transfer request and have carefully checked the details. The name, address etc. held by both banks definitely match. Clearly I provided correct Barclays account details or they wouldn't have known who to write to... I don't see any error.

    Does anyone have any clue what the issue could be? I'm a bit tempted to take the 'rejected passport photo' approach and just submit again.
    When did you open the VM account? Had your Barclay's ISA already matured into easy access? I have a Barclay's ISA maturing on 19 December. I opened a VM ISA online on 2 December and filled in the transfer form at the same time. I was hoping that VM would do some preliminary admin before the maturity date and that the transfer would be quick but when I enquired in branch was told they were not allowed to set anything in motion until the maturity date, so am anticipating some delay now, especially being so near to xmas.
  • I have to say I'm impressed with Aldermore.  I opened an account this afternoon in order to transfer a recently matured Shawbrook ISA.  Email confirming account was open sent then a second email arrived 7 minutes later confirming they had recieved my ISA transfer instruction and had already sent the request to Shawbrook
  • Albermarle
    Albermarle Posts: 20,994
    First Anniversary First Post Name Dropper
    Forumite
    I have to say I'm impressed with Aldermore.  I opened an account this afternoon in order to transfer a recently matured Shawbrook ISA.  Email confirming account was open sent then a second email arrived 7 minutes later confirming they had recieved my ISA transfer instruction and had already sent the request to Shawbrook
    Also when you add new money to one of their savings accounts, they e mail you to confirm it has arrived.
    Means you do not have to login to check. Also the confirmation was quite quick ( < 2 hours), so looks like they have generally speeded up their processes . Or the Newcastle centre service facility they use ( along with a few others) have speeded up. 
  • fuzzzzy said:
    When did you open the VM account? Had your Barclay's ISA already matured into easy access? I have a Barclay's ISA maturing on 19 December. I opened a VM ISA online on 2 December and filled in the transfer form at the same time. I was hoping that VM would do some preliminary admin before the maturity date and that the transfer would be quick but when I enquired in branch was told they were not allowed to set anything in motion until the maturity date, so am anticipating some delay now, especially being so near to xmas.
    Hmmm so I made the request before it had matured. It matured today and I ticked the box that they should wait until the maturity date to action. I made the request to Virgin on 4th and see this letter online from Barclays dated 6th although I only just noticed it. I've not heard anything from Virgin that it was declined.

    It was a partial transfer and I made another request at the same time to YBS so I may see if that goes through or how long it takes Virgin to get in touch - whichever is first!
  • eskbanker said:
    Ask Virgin Money what the issue is, as it's up to them as the receiving provider to resolve it one way or another - it's plausible that they've messed up and sent Barclays something that didn't correspond closely enough with what you submitted to them (VM) in the first place, for example....
    Completely plausible yes! They haven't been in touch with me, I noticed this myself on Barclays online. I will try and get in touch with them although I do know from other dealings with them that they're a real pest to get hold of...
Meet your Ambassadors

Categories

  • All Categories
  • 341.4K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.5K Work, Benefits & Business
  • 605.8K Mortgages, Homes & Bills
  • 172.3K Life & Family
  • 246.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards