Has anyone tried to transfer out from moneybox?

dunstonh

care: old thread revival

Could you say which ISA account you managed to transfer to easily from moneybox I'm concerned re the problems people are having with other ISA institutions not recognising Moneybox

Why would you have problems?
I have transferred several ISAs out of moneybox to different platforms and none had any problems.

Curious_forever

Ah that's good to know. Just various threads seemed to indicate people had difficulty and I will want to transfer in 3 months time.

pecunianonolet

No problems with transfer out as such but had to chase them up and as soon as they received my transfer out request they froze the account and instead of paying me interest until they sent the funds they reduced the rate to 0.75% from that day, when they advertised 4.2% as underlying rate after my promotional rate came to an end. 

Lost around 10 days of interest, waiting for a response to my complaint and was advised they will investigate and come back within 8 weeks. I am not expecting them to reply any day before that, probably hoping I forget or won't bother any longer. 

BaZza81

Having issued a transfer out of an isa from Moneybox 6 weeks ago.
They have misled and ignored the transfer-out request even though it was done as per their instructions twice now. (Have the other provider email it to them at transfersout@moneyboxapp.com).
Have put a complaint in as per the ombudsman guidelines.
Many other forums state that various customers have had issues with transfer out.
Moneybox rates may be good but the service and information over the chat is just awful/non-compliant!.

NewYorkNo1fan

pecunianonolet said:

No problems with transfer out as such but had to chase them up and as soon as they received my transfer out request they froze the account and instead of paying me interest until they sent the funds they reduced the rate to 0.75% from that day, when they advertised 4.2% as underlying rate after my promotional rate came to an end. 

Lost around 10 days of interest, waiting for a response to my complaint and was advised they will investigate and come back within 8 weeks. I am not expecting them to reply any day before that, probably hoping I forget or won't bother any longer. 

Id be interested on the outcome of this.
i have had the same issue whereby my interest was reduced to 0.75% whilst transfer out took place last week. Ive raised a complaint but awaiting the transfer teams response

pecunianonolet

NewYorkNo1fan said:

pecunianonolet said:

No problems with transfer out as such but had to chase them up and as soon as they received my transfer out request they froze the account and instead of paying me interest until they sent the funds they reduced the rate to 0.75% from that day, when they advertised 4.2% as underlying rate after my promotional rate came to an end. 

Lost around 10 days of interest, waiting for a response to my complaint and was advised they will investigate and come back within 8 weeks. I am not expecting them to reply any day before that, probably hoping I forget or won't bother any longer. 

Id be interested on the outcome of this.
i have had the same issue whereby my interest was reduced to 0.75% whilst transfer out took place last week. Ive raised a complaint but awaiting the transfer teams response

I had this as well with them reducing the rate and raised a complaint. They admitted system issues and paid the outstanding interest for that period plus 50 quid compensation.