Cash ISA provider with electronic transfers from Hargreaves

samtaylor99

Tried to open a Virgin Cash ISA to transfer cash in a Hargreaves S&S ISA but they want a paper transfer which I can't do as I'm outside the UK for another month. Does anyone know of any provider who has Hargreaves on their 'electronic' transfer list?

mebu60

Do you mean Virgin require you to complete and sign a paper form? Wouldn't be surprised if most providers require the same to be able to provide proof to HL that you authorise the transfer.
If VM would accept a scanned completed form maybe you could email it to them? 

refluxer

Virgin and Hargreaves Lansdown are both on the list of providers who use the BACs ISA transfer service, so that's odd. If the problem is particular to Virgin, then I guess you'll just have to try another provider from the list (see link below).

Shawbrook currently have the second highest-paying 1 year fixed rate cash ISA at 4.98% and accept electronic transfers (in theory) from HL.

https://help.shawbrook.co.uk/hc/en-gb/articles/5598619267474-Electronic-ISA-Transfers

samtaylor99

mebu60 said:

Do you mean Virgin require you to complete and sign a paper form? Wouldn't be surprised if most providers require the same to be able to provide proof to HL that you authorise the transfer.
If VM would accept a scanned completed form maybe you could email it to them? 

Yes, Virgin required a completed and signed transfer form.They have a list of providers with whom they can transfer electronically but Hargreaves isn't on it. Thanks for the helpful comments, I'll try Shawbrook .

refluxer

mebu60 said:

Do you mean Virgin require you to complete and sign a paper form? Wouldn't be surprised if most providers require the same to be able to provide proof to HL that you authorise the transfer

When both the sending and recieving ISA providers are both on the BACs ISA transfer list, then paper forms and signatures shouldn't be required. The fact that a signature is required in this case makes it unusual but, then again, Virgin get mentioned on here quite often with regards to ISA transfer problems.

boingy

I've been rejigging my ISAs this year and I've been amazed how many providers still require paper forms. It must cost them a fortune.

I think many of the reported problems with Virgin transfers are caused by Virgin being several different organisations under the hood. So if your form ends up in the wrong office it causes problems and/or delays. It's also why some ISAs can be opened immediately in their app and others need you to apply from afresh on a website. They really need to sort it out but I suspect the major obstacle is the difficulty in mashing together two or more different IT systems.

newatc

Is the problem that HL Active Savings has no sort code and no account number ?

Albermarle

newatc said:

Is the problem that HL Active Savings has no sort code and no account number ?

OP is wanting to transfer a S&S ISA from HL, Active savings has not been mentioned. 

newatc

Albermarle said:

newatc said:

Is the problem that HL Active Savings has no sort code and no account number ?

OP is wanting to transfer a S&S ISA from HL, Active savings has not been mentioned. 

Sorry, rushed read.